Nikola founder Trevor Milton to be charged with making false statements — Transcript

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1. 0:00andrew federal charges will be filed
2. 0:01today against trevor milton
3. 0:03we just received the announcement from
4. 0:05the u.s attorney for the southern
5. 0:06district of new york
6. 0:08the charges will involve making false
7. 0:10and misleading statements to nicola
8. 0:12investors remember trevor milton was the
9. 0:14founder and the one-time
10. 0:16ceo and chairman of nicola until
11. 0:19everything came crashing down i want to
12. 0:21say was about about a year ago i don't
13. 0:23have the exact dates and
14. 0:24remember all of this started initially
15. 0:27with hindenburg research saying hey look
16. 0:29a lot of the comments
17. 0:30uh and the claims that were made by
18. 0:32trevor milton and by nicola
19. 0:34regarding the ability of their semis
20. 0:37uh to power themselves videos that were
21. 0:40shot etc
22. 0:41that they they're not accurate they
23. 0:42weren't accurate at the time and
24. 0:44ultimately trevor milton was bounced out
25. 0:47of the job
26. 0:48at nicola remember they had the deal
27. 0:50that was initially announced
28. 0:52with general motors where general motors
29. 0:54was going to take a stake in them
30. 0:56and did take a stake in them and was
31. 0:58going to be
32. 0:59a key partner in the development of
33. 1:01nicola
34. 1:02that ultimately fell apart and now they
35. 1:04have no more than a supplier
36. 1:06uh and customer arrangement even though
37. 1:08nicola is not yet
38. 1:09supplying any product to general motors
39. 1:11so again trevor milton
40. 1:13the founder and former ceo of nicola
41. 1:16will be charged today by the federal
42. 1:18government charges will be announced by
43. 1:20the southern district of new york
44. 1:22at 11 a.m as soon as we have more
45. 1:24details about the indictment guys we'll
46. 1:25send it to you
47. 1:27shepard smith here thanks for watching
48. 1:30cnbc
49. 1:31on youtube