Sector Regulation Sector Regulation

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 “nearly

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