Nikola (NASDAQ:NKLA) – The famous Nikola rolls down the hill Video Will

Nikola (NASDAQ:NKLA) – The famous Nikola rolls down the hill Video Will

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A video from a truck Nikola Corp NKLA became the talk of the financial world after a brief report questioned whether the truck was actually driving. Nikola later admitted that the truck rolled downhill.

The famous video will be a piece of evidence in the upcoming trial against Nikola’s founder and former CEO.

What happened: A fraud case against Nikola founder and former CEO Trevor Milton will see video of Nikola One’s prototype truck being played before the jury on the case.

Jury selection for the fraud trial is set to begin on Monday, with the entire process expected to take up to five weeks Reuters. Milton is accused of making false claims for Nikola across several business areas.

The video could be an important piece of evidence, as prosecutors have argued that Milton misled investors when he knew the prototype didn’t work. Prosecutors said Milton showed Nikola he had early success with the Nikola One tractor-trailer when the video didn’t include a working prototype.

Bradley Bondi, Milton’s attorney, wanted the video thrown out because it was filmed before items from the fraud case began. The attorney also argued that Milton admitted that the truck was not under its own power.

“They want to bring it in because they want to stir up the jury,” Bondi said.

Bondi before served as part of Tesla Inc TSLA chairman Elon Musk’s Legal team in a Securities and Exchange Commission (SEC) complaint over a tweet to take the company private. Musk’s legal team was able to negotiate an agreement.

The judge called the video “direct evidence” of the allegations against the Nikola founder.

Milton has pleaded not guilty to the charges.

Nicola paid $125 million in indictments that misled investors from the SEC. The company admitted no wrongdoing in the settlement.

Related link: Nikola appoints Michael Lohscheller as CEO

Why it matters: Milton stepped down from Nikola’s CEO role and sold part of his shares in the company last year pending the indictment…


Read full story here https://www.benzinga.com/news/22/09/28811350/the-famous-nikola-rolling-down-the-hill-video-will-be-part-of-trevor-milton-trial

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