Nikola Corp founder Trevor Milton was convicted of fraud over allegations that he lied to its investors about the company's technical achievements. What Happened: A federal jury convicted Milton of one count of securities fraud and two counts of wire fraud. He may now face a maximum prison sentence of 20 years. Sentencing for Milton was set for Jan. 27. During the trial, the jury depicted Milton as a "con man" who sought to deceive investors about the electric- and hydrogen-powered truck maker's technology starting in November 2019. Milton was indicted on fraud charges in July 2021 and resigned as CEO amid allegations. According to the court filings, Milton was using social media and interviews on television to make false and misleading claims about Nikola's trucks and technology. Milton made false statements that Nikola built an electric- and hydrogen-powered Badger pickup from the "ground up" and developed batteries in-house, which he knew were purchased elsewhere, the report s...