Trevor Milton

The new charge concerns Milton's alleged effort to defraud the seller of Wasatch Creeks Ranch in Utah by making false and misleading statements about Nikola's products and business prospects.

Nikola declined to comment on the matter and Milton's attorney did not immediately respond to a Reuters request for comment.

After he surrendered he pleaded not guilty and was released on a $100 million bond.

Potential partners have been reluctant to move forward with Nikola amid the heightened scrutiny, but a deal could still come together, a recent report suggested.

Shares of electric-truck maker Nikola Corp tumbled 34% on Monday after founder Trevor Milton stepped down as executive chairman following a public squabble with a short-seller over allegations of nepotism and fraud.

The founder and executive chairman of embattled zero-emission truck maker Nikola has resigned, the company announced Sunday, after allegations of fraud which sparked a stock tumble and a regulatory investigation.

Nikola Corp said on Friday it could take legal action against Hindenburg Research, a day after the short-seller issued a scathing report accusing the electric truck maker of being a "fraud". Hindenburg had shorted the stock on Thursday and said it had gathered enough evidence to show that Nikola founder Trevor Milton made false statements about pos...

The new charge concerns Milton's alleged effort to defraud the seller of Wasatch Creeks Ranch in Utah by making false and misleading statements about Nikola's products and business prospects.

Nikola declined to comment on the matter and Milton's attorney did not immediately respond to a Reuters request for comment.

After he surrendered he pleaded not guilty and was released on a $100 million bond.

Potential partners have been reluctant to move forward with Nikola amid the heightened scrutiny, but a deal could still come together, a recent report suggested.

Shares of electric-truck maker Nikola Corp tumbled 34% on Monday after founder Trevor Milton stepped down as executive chairman following a public squabble with a short-seller over allegations of nepotism and fraud.

The founder and executive chairman of embattled zero-emission truck maker Nikola has resigned, the company announced Sunday, after allegations of fraud which sparked a stock tumble and a regulatory investigation.

Nikola Corp said on Friday it could take legal action against Hindenburg Research, a day after the short-seller issued a scathing report accusing the electric truck maker of being a "fraud". Hindenburg had shorted the stock on Thursday and said it had gathered enough evidence to show that Nikola founder Trevor Milton made false statements about pos...