Financial Services Financial Services

With fraud charges against Nikola founder, US SEC head Gensler's SPAC pledge bears fruit

By Neil Roland
  • 29 Jul 2021 16:50
  • 29 Jul 2021 16:50
US Securities and Exchange Commission chief Gary Gensler’s promise to scrutinize special purpose acquisition companies yielded results today when criminal and civil fraud charges were filed against Trevor Milton, the founder of Nikola electric truck startup.

Milton exploited Nikola’s merger through its “blank check” initial public offering to allegedly lie about

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Neil Roland

Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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