Nikola founder Trevor Milton sentenced to four years in prison for fraud
www.cnbc.com
Nikola founder Trevor Milton was found guilty in October 2022 on two counts of wire fraud and one count of securities fraud.

Nikola founder to be sentenced for federal fraud charges::Nikola founder Trevor Milton was found guilty in October 2022 on two counts of wire fraud and one count of securities fraud.

  • piskertariot@lemmy.worldEnglish
    28·
    7 months ago

    4 years and $1m fine.

    Billions in fraud. Guy is set for life and will absolutely be out of “jail” in a year.

    The judge: “Let this be a lesson”

    Everyone: fucking what?

    • BearOfaTime@lemm.eeEnglish
      42·
      7 months ago

      Fines for this stuff need to work like courtroom penalty of destroying records: assume the records were the worst-possible evidence.

      Let’s assume most-possible profit, make the fine 10x that.

      Then whatever BS “liar figuring” is done, it’ll still be a massive fine. One that can’t be escaped via bankruptcy.