Trevor Milton, who founded the truck company Nikola, will be sentenced on Monday in a fraud case that exposed the excesses in the electric vehicle business.
Nathan Anderson, who exposed evidence of fraud at Nikola, says he feels vindicated by its founder’s conviction.
Trevor Milton was accused of boasting about nonexistent technology to inflate the stock price of Nikola, a maker of electric trucks.
Prosecutors say Trevor Milton, former chief executive of Nikola, lured retail investors with lies about the electric truck company’s technology.
Federal prosecutors charged Mr. Milton with misleading investors about the technology for battery- and hydrogen-powered vehicles Nikola had hoped to manufacture.
The company’s top executive resigned after the struggling automaker released an investigation by its board.
A new agreement, supplying hydrogen fuel cell technology from General Motors, is less sweeping than the strategic partnership outlined in September.