The wealthy founder of Nikola Corp. was convicted of charges he deceived investors with exaggerated claims about his company's progress in producing zero-emission 18-wheel trucks fueled by electricity or hydrogen.

Those prosecutors alleged that Nikola — founded by Milton in a Utah basement six years ago — falsely claimed to have built its own revolutionary truck that was actually a General Motors Corp. product with Nikola's logo stamped onto it. There also was evidence that the company produced videos of its trucks that were doctored to hide their flaws.

Called as a government witness, Nikola's CEO testified that Milton "was prone to exaggeration" in pitching his venture to investors.

https://www.npr.org/2022/10/14/1129248846/nikola-founder-electric-trucks-guilty-fraud