Nikola Founder Trevor Milton denies allegations of fraud amid GM merger and SEC, DOJ investigations

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Investors and customers may be a little confused right now since Milton wasn’t honest about the Nikola One truck. They may be wondering how functional Nikola Two is and if this has anything to do with hydrogen anymore.

Investigations underway

The Justice Department joined the SEC in investigating Hindenburg Research’s’ allegations. The regulators are looking into the charge that Nikola misled investors by exaggerating its technology.

The Justice Department’s inquiry will be handled by the Manhattan U.S. attorney’s office, in coordination with the SEC.

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