Trefor Milton, which was It was convicted by a federal jury in 2022 The White House confirmed that the fraud in investors in the electric truck maker Nicolas had an amnesty from President Trump.
Mr. Milton, who was established and former CEO of Nicolas, was sentenced to four years imprisonment and a fine of one million dollars after being convicted by a New York jury on charges of securities and two charges of fraud in wires. He was free on bail while he resumed condemnation.
In addition to sparing Mr. Milton Time in prison, the amnesty means that he will not be asked to comply with a court order to compensate for the shareholders in Nicolas, who lost tens of millions of dollars after the collapse of the Nicolas share price. He can still face civil suits.
Mr. Milton was accused of wiping the value of Nicolas shares by submitting exorbitant claims about the company, including that it had initial models of long -free trucks, and had billions of dollars in binding and was producing low -cost hydrogen fuel. These statements were wrong, the general prosecutors argued during the trial.
Mr. Milton confirmed that he did not make any mistake, and his lawyers said he was exaggerated on the possibilities of his company.
Nicola presented to Banking protection in February He said in the court files that he intends to sell a lot or all its assets.
This is a developing story. Check again for updates.
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