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Nikola founder asks judge to block evidence of 'wealth', 'lifestyle' in fraud case

(Reuters) - Trevor Milton, the billionaire founder and former chief executive of Nikola Corp has asked a federal judge to block evidence related to his "wealth, lifestyle or...
Nikola founder asks judge to block evidence of 'wealth', 'lifestyle' in fraud case © Reuters. FILE PHOTO: Trevor Milton, founder and former-CEO of Nikola Corp., exits the Manhattan Federal Courthouse following an appearance in New York City, U.S., July 29, 2021. REUTERS/Eduardo Munoz/File Photo

(Reuters) - Trevor Milton, the billionaire founder and former chief executive of Nikola Corp has asked a federal judge to block evidence related to his "wealth, lifestyle or spending habits" at his trial for fraud charges.

A court filing from Monday showed that Milton's lawyers told U.S. District Judge Edgardo Ramos that details of Milton's wealth were "unfairly prejudicial" and could mislead the jury.

U.S. prosecutors have criminally charged Milton with defrauding investors by lying to them about Nikola, the Phoenix-based electric truck maker he founded in 2014.

Prosecutors say he wrongly claimed that Nikola had built an electric- and hydrogen-powered pickup from the "ground up", developed batteries he knew the company was buying elsewhere, and that the company was making progress on a truck prototype he knew did not work.

Milton also targeted retail investors with a public relations blitz of social media posts as well as television and podcast interviews to drive up Nikola's stock price, authorities alleged.

His lawyers on Monday also filed to exclude evidence of retail investors' circumstances during the COVID-19 pandemic, saying those circumstances did not affect whether or not Milton committed securities or wire fraud.

Nikola declined to comment on Milton's court filing.

Judge Ramos in November last year had rejected Milton's claim that he should not have been indicted https://www.reuters.com/business/autos-transportation/us-charges-nikola-founder-trevor-milton-with-lying-investors-2021-07-29 in New York for securities and wire fraud because his alleged lies were in Arizona and Utah, where he lives, and the case belonged there if at all.

The company's share price has fallen more than 90% from its June 2020 record high.

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08-07-2022 00:19:09 (UTC+7)

EUR/USD

1.0146

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EUR/USD

1.0146

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1.2001

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USD/JPY

136.04

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0.6830

+0.0055 (+0.81%)

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138.04

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0.9886

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1,740.20

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Euro Stoxx 50

3,488.50

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21,643.58

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1,765.40

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8,122.50

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41.300

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Bayer AG NA

56.59

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Allianz SE VNA O.N.

178.46

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Buy

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Adidas AG

169.28

+4.74 (+2.88%)

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5.764

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97.71

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Deutsche Bank AG

7.983

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 EUR/USD1.0146↑ Sell
 GBP/USD1.2001↑ Sell
 USD/JPY136.04Neutral
 AUD/USD0.6830↑ Sell
 USD/CAD1.2993↑ Buy
 EUR/JPY138.04↑ Sell
 EUR/CHF0.9886Neutral
 Gold1,740.20↑ Sell
 Silver19.198↑ Sell
 Copper3.5548↑ Sell
 Crude Oil WTI103.94↑ Buy
 Brent Oil105.79↑ Buy
 Natural Gas6.317Sell
 US Coffee C218.75↑ Sell
 Euro Stoxx 503,488.50↑ Sell
 S&P 5003,888.30↑ Sell
 DAX12,843.22Neutral
 FTSE 1007,189.08↑ Sell
 Hang Seng21,643.58↑ Buy
 Small Cap 20001,765.40↑ Sell
 IBEX 358,122.50↑ Buy
 BASF41.300↑ Buy
 Bayer56.59Sell
 Allianz178.46Buy
 Adidas169.28↑ Buy
 Lufthansa5.764↑ Buy
 Siemens AG97.71↑ Buy
 Deutsche Bank AG7.983↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,765/ 6,825
(0/ 0) # 1,893
SJC HCM6,785/ 6,845
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SJC Nhatrang6,785/ 6,847
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SJC Cantho6,785/ 6,847
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Cập nhật lúc 18:49:11 07/07/2022
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