The founding of an electric truck company faces significant prison time for his role in a fraud case that demonstrates the destruction left behind by electric vehicle startups. Trevor Milton, the founder of Nikola Motor, is expected to be sentenced in Manhattan on Monday after being found guilty of securities and wire fraud. He is accused of inflating Nikola’s stock value by making false claims, with the prosecution seeking an 11-year prison term and a $5 million fine. Similar situations have impacted other electric vehicle startups like Canoo, Lordstown Motors, and Lucid Motors. Investors have suffered enormous losses, chilling investment in the electric vehicle industry. Even well-funded ventures like Rivian have seen their stock prices drop drastically. Nikola’s failings have left investors with more than $660 million in losses.
Entrepreneurial Visionary Facing Possible Incarceration for Alleged Fraudulent Activities
Elissa began receiving threatening messages early last year from a person calling themselves “Instamodelfan” targeting her daughter’s Instagram account. Despite having over 100,000 followers, the account has been under scrutiny for potentially exploiting children in exchange for money. However, the issue runs deeper than that. Research from The New York Times found that the platform […]Read More
Instagram maintains the 13-year-old minimum age for accounts, but parents can take control, largely for their daughters’ ambitions to become influencers. Parents initiate their child’s modeling career or gain favor from clothing brands, but a dark subculture emerges, controlled by men attracted to minors, as per The New York Times. The emergence of mom-run profiles […]Read More
Beijing’s Networks Expanding Hacking Efforts China has spread its hacking reach with new tools that exploit computer vulnerabilities and a network of contracted vendors. The large scale of China’s hacking operations poses a significant threat, with the FBI reporting China’s hacking program to be larger than all major nations combined. The U.S. has tracked consistent […]Read More