•   
  •   

World Judge Orders Nikola Founder Not to Contact Investors Following Not Guilty Plea

02:07  30 july  2021
02:07  30 july  2021 Source:   newsweek.com

Asian markets extend global retreat over Delta fears

  Asian markets extend global retreat over Delta fears Asian equities extended losses Tuesday following another rough day for global markets as the fast-spreading Covid Delta variant fuels concerns over the expected economic recovery. Investors have been rattled in recent weeks by data showing the highly transmissible virus surging across the world, forcing some governments to reimpose containment measures. Even countries with elevated vaccination rates have seen a big increase in new cases, though observers point out that hospitalisations and deaths are being kept down thanks to the jabs.

A judge ordered Trevor Milton, the founder and former executive chair of the embattled Nikola Corp., not to contact the company's investors on Thursday at his arraignment hearing, where he pleaded not guilty to charges of misleading those investors about his company's electric and hydrogen-powered truck startup.

a person standing posing for the camera: Audrey Strauss, the United States Attorney for the Southern District of New York, speaks during a news conference, in New York, Thursday, July 29, 2021. She announced that Trevor Milton, founder and one-time executive chair of Nikola Corp., surrendered Thursday in New York to face charges alleging he lied about the electric and hydrogen-powered truck startup, duping some financially struggling novice investors looking for income during the pandemic. © Richard Drew/AP Photo Audrey Strauss, the United States Attorney for the Southern District of New York, speaks during a news conference, in New York, Thursday, July 29, 2021. She announced that Trevor Milton, founder and one-time executive chair of Nikola Corp., surrendered Thursday in New York to face charges alleging he lied about the electric and hydrogen-powered truck startup, duping some financially struggling novice investors looking for income during the pandemic.

Milton, 39, resigned from Nikola in September after allegations of fraud surfaced. But he doubled down, saying he would defend himself against accusations that Nikola made false claims about its vehicles.

Harvey Weinstein denies 11 Los Angeles sex assault charges

  Harvey Weinstein denies 11 Los Angeles sex assault charges Disgraced Hollywood mogul Harvey Weinstein pleaded not guilty in a courtroom in Los Angeles on Wednesday to all 11 charges of rape and sexual assault against five women in California hotel rooms. The convicted rapist, who is already serving 23 years in jail in New York, has been brought across the country to face further sex crime charges in the city where he once presided over massive film deals. The 69-year-old Weinstein -- who could face an additional 140 years in prison if convicted on all counts -- was present to hear the latest charges against him in the downtown courtroom, slumped in a wheelchair and wearing a brown jumpsuit and ill-fitting blue mask.

Investors included novices and people struggling financially during the pandemic. In an unsealed indictment in a Manhattan federal court, Milton was formally charged with securities and wire fraud.

Milton was released on a $100 million bail after pleading not guilty, paid for by two Utah properties, Magistrate Judge Sarah Netburn ruled that Milton must not contact investors unless he had an independent relationship with them.

For more reporting from the Associated Press, see below.

Marc Mukasey, one of Martin's attorneys, alerted the judge that some financial information in the court record would have to be revised, including a statement that some Milton bank accounts contained $50 million.

Mukasey said it was "a lot less than that as we understand it."

Former UTS dean guilty of fake letters

  Former UTS dean guilty of fake letters Ex-UTS professor Dianne Jolley has been found guilty of sending fake threatening letters to herself including one which read "chop our future we chop yours".For months Dianne Jolley pretended to find alarming notes including one that read: "Goodbye, cya and good luck," with her photograph and a red line drawn through her face.

As he left the courthouse afterward in a suit and purple tie, Milton declined to answer questions.

His lawyers issued a statement through a spokesperson saying justice "was not served by the government's action today, but it will be when Mr. Milton is exonerated."

The statement called the case "a new low in the government's efforts to criminalize lawful business conduct. Every executive in America should be horrified."

"Trevor Milton is an entrepreneur who had a long-term vision of helping the environment by cutting carbon emissions in the trucking industry. Mr. Milton has been wrongfully accused following a faulty and incomplete investigation in which the government ignored critical evidence and failed to interview important witnesses," it added.

Manhattan U.S. Attorney Audrey Strauss said Milton from November 2019 through last September "brazenly and repeatedly used social media, and appearances and interviews on television, podcasts, and in print, to make false and misleading claims about the status of Nikola's trucks and technology."

Attorney for 'QAnon shaman' says plea deal being 'earnestly' discussed

  Attorney for 'QAnon shaman' says plea deal being 'earnestly' discussed An attorney for Jacob Chansley, the self-described "QAnon shaman" who was photographed shirtless with face paint inside the Senate dais during the Capitol riot, said a plea deal is "earnestly" being discussed for his client. Chansley, 33, who has been diagnosed with multiple mental illnesses, was arrested Jan. 9, just three days after the Capitol riot. He was charged with civil disorder, entering and remaining in a restricted building, obstruction of an official proceeding, and other offenses.

She told a news conference that the charges were "where the rubber meets the road."

The Securities and Exchange Commission filed separate civil charges.

Shares of Nikola Corp., headquartered in Phoenix, Arizona, tumbled 7 percent before the opening bell Thursday. By 2 p.m., it had fallen by 10 percent.

Milton's claims were aimed at retail investors lacking professional experience in the securities markets, including people with no experience who began trading stocks during the coronavirus pandemic to replace or supplement lost income or to occupy time during the lockdown, the indictment said.

Some, it said, suffered hundreds of thousands of dollars in losses, including the loss of retirement savings or funds they had borrowed to invest in Nikola.

Meanwhile, Milton was motivated to mislead investors to "enrich himself and elevate his stature as an entrepreneur," the indictment said, noting that his holdings in Nikola were valued at $8.5 billion at one point, moving him closer to his dream of being listed among the world's 100 wealthiest people.

capital for startups and companies: These countries invest most in Europe

 capital for startups and companies: These countries invest most in Europe foreign investors are an important source of financial possibilities for many startups and companies. But the Corona pandemic caused less money to be taken in this location. A country defies this trend. © Ilolab / Shutterstock Investors are an important source of financial possibilities for many startups and companies in the EU. large companies from all over the world who fed interesting projects with their money were in many places the foundation for a successfully growing economy.

Milton was described in the indictment as a "serial entrepreneur from Utah with no formal background in engineering" when he started Nikola in 2015. After Nikola announced in March 2020 that its stock would be publicly listed, Milton "became increasingly preoccupied" with its stock price and keeping it high, it said.

The indictment cited numerous public statements Milton made as false and misleading, including his claims that the company had early success at creating a "fully functioning" semi truck prototype known as the "Nikola One." Milton knew the prototype was inoperable, it said, and was missing key parts, including gears and motors.

Last year, a report from Hindenburg Research said Nikola's success was "an intricate fraud" and based on "an ocean of lies" including a video showing a truck rolling downhill to give the impression it was cruising on a highway, and stenciling the words "hydrogen electric" on the side of a vehicle that was actually powered by natural gas.

The video was included in the indictment, along with Milton's explanation that the truck did not drive under its own power because motors and gears were removed for safety reasons and that Milton "never deceived anyone."

Milton also misled investors when he said Nikola had engineered and built an electricity- and hydrogen-powered pickup truck known as "the Badger" from the "ground up" using Nikola's parts and technology when he knew that wasn't true, the indictment said.

Texas Man Gets 11 Years for $24 Million Worth of Fraudulent COVID-19 Relief Claims

  Texas Man Gets 11 Years for $24 Million Worth of Fraudulent COVID-19 Relief Claims "Congress passed the Paycheck Protection Program to help struggling businesses stay afloat, not to fund faux entrepreneurs' luxury lifestyles," acting U.S. Attorney Prerak Shah said on Wednesday.U.S. District Judge Karen Gren Scholer handed 55-year-old Dinesh Sah the sentence and an order to pay $17,284,649.79 in restitution on Wednesday, just over four months after he pleaded guilty to money laundering and wire fraud charges, according to the Department of Justice.

The indictment alleged he misled investors as well when he said Nikola was producing hydrogen at a reduced cost "when Milton knew that in fact no hydrogen was being produced at all by Nikola, at any cost."

Related Articles

  • Nikola Founder Trevor Milton Charged With Securities Fraud, Making Misleading Statements
  • Outlook for Bitcoin Bright Despite Stumbles; Wind Power Moves Ahead of Hydro in U.S.
  • Massive Highway Sign Collapses Onto Car, Killing Driver
  • 50 Car Companies That No Longer Exist

Start your unlimited Newsweek trial

Utah convicted murderer’s death sentence reinstated after lower court overturned it: reports .
A Utah convicted murderer was back on death row Friday after a federal appeals court reinstated his sentence after it had been overturned by a lower court. The 10th U.S. Circuit Court of Appeals made its decision in the case of Von Lester Taylor, who was one of two defendants convicted in the Christmastime 1990 killings of a woman and her mother at a cabin in Summit County, Utah, FOX 13 of Salt Lake City reported. The mother was blind and partially handicapped, the Deseret News of Salt Lake City reported. Taylor pleaded guilty in 1991 to the murders, which happened Dec. 22, 1990, the station reported.

usr: 0
This is interesting!