Nikola Motors endeavoring to rehabilitate its reputation

SCANALYZER The Happening World
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Brings in Sandy Munro to take a look at its hydrogen fuel cell semi:

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https://electrek.co/2023/06/23/multiple-nikola-electric-semitrucks-caught-on-fire-company-claims-foul-play/

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huh?

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Markets of cars, and ideas are consolidating (to use a JP Morgan era term).

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And others in EV industry are getting along swimmingly

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h/t @1967mustangman

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This pardon was not deserved and essentially everything Trump has said about it is wrong.

People who date back to Ratburger will recall that I immediately declared something wrong with Nikola Motors when it filed a ridiculous lawsuit against Tesla. The true nature of its frauds came out later.

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Trump just said Trevor Milton did nothing wrong and is a good person

THIS IS INSANE

Is engaging in securities and wire fraud now "nothing"?

Trevor Milton belongs IN PRISON for misleading investors continuously. What a joke pic.twitter.com/5jV1c9ulC5

— Dillon Loomis (@DillonLoomis22) March 28, 2025
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Is the change of venue from Utah to the notorious Southern District of New York suspicious at all?

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Not for a securities case. Due to the location of stock exchanges in NYC, venue is typically proper there. In these cases, there was no change of venue (transfer of a case originally filed in UT). Milton failed to get transfer to UT in both cases. Given my recollection that Nikola’s management looked like a BYU business school alumni association meeting, transfer to UT would have been absurd.

12. Venue is proper in this District pursuant to Section 20 of the Securities Act [15 U.S.C. § 77t] and Section 27 of the Exchange Act [15 U.S.C. § 78aa]. Milton transacted business in this District, and certain of the acts, practices, transactions, and courses of business constituting violations of the securities laws alleged in this Complaint occurred within this District. Milton regularly communicated via multiple online platforms with users located in this District. Investors who bought Nikola stock, and were harmed by the conduct alleged herein, reside in this District. Nikola is traded on the Nasdaq, which is headquartered in this District. Trades in Nikola securities were handled and executed by trading personnel located in this District during the relevant period. Nikola’s corporate predecessor, VectoIQ Acquisition Corp., with which Nikola merged to become a public company, was also headquartered in this District.

https://www.courtlistener.com/docket/60092619/united-states-securities-and-exchange-commission-v-milton/

The Government respectfully submits this memorandum in opposition to defendant Trevor Milton’s motion to dismiss the charges against him for lack of venue or, in the alternative, to transfer venue to either the District of Arizona or the District of Utah, where the defendant owns houses. (Dkt. No. 11 (“Def.’s Mot.”).) Both requests are without merit. First, the Indictment alleges venue in the Southern District of New York, which alone defeats the motion to dismiss. Second, Milton offers no factors sufficient to justify a departure from the general rule that a criminal prosecution should be retained in the original district where the case was charged, as he must to succeed in a motion to transfer venue. To the contrary, Milton—whose scheme defrauded investors nationwide—will receive a fair, efficient, and convenient trial in New York City. His motion should be denied.

https://www.courtlistener.com/docket/60094811/united-states-v-milton/

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That was going well until they mentioned “a fair, efficient, and convenient trial in New York City”. :grinning:

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Imagine that. I didn’t dig back into it because I agree with you that this was an obvious fraud.

This sits up there with the meme coin frauds Trump and family have been pushing as well as the general crypto pump.

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Factory bought by Lucid. Both are located between Phoenix and Tucson:

Lucid is controlled by the Saudi PIF.

The PIF may have competed their involvement in the infamous effort to take Tesla private against Lucid, leading to their 2018 Lucid investment](Saudi investment fund invests $1 billion in Tesla rival Lucid Motors in blow to Elon Musk - CBS News):

Elon Musk’s rocky patch isn’t getting any smoother. Only weeks after the Tesla founder and CEO proclaimed he would take his company private with the help of Saudi Arabia’s sovereign wealth fund, the kingdom says it’s investing $1 billion in another U.S. electric car maker.

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