00:00 It's Benzinga and here's what's on the block.
00:02 Nikola founder Trevor Milton was sentenced to four years in prison and fined $1 million
00:07 for defrauding investors of the electric and hydrogen-powered truck maker Nikola.
00:12 Milton was found guilty in October 2022 on two counts of wire fraud and one count of
00:18 securities fraud. U.S. Attorney for the Southern District of New York, Damian Williams,
00:23 said in a statement that the sentencing serves as a warning to startup founders
00:27 and executives about "fake it till you make it" not being an excuse for fraud that misleads
00:32 investors. Nikola agreed to pay $125 million to settle related civil charges brought by the SEC
00:39 in 2021. For all things money visit Benzinga.com
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