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Nikola Founder Milton Indicted Then Freed for $100M As Inner City Press Asks of Robinhood

By Matthew Russell Lee, Patreon Video Podcast
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, July 29 – Just after the indictment of electric vehicle maker Nikola's founder Trevor Milton was unsealed, a press conference was held in the Southern District of New York prosecutors' office. Inner City Press went and asked about the SEC complaint's reference to Milton targeting "Robinhood investors." Video here.

  US Attorney Strauss and her SEC colleague (on the job for all of one week) both deferred comment on particular companies or phenomena like Robinhood, or Elon Musk, or SPACs. But it seems there will be more prosecutions coming - including in the crypto-currency space?

  At 12:30 pm Milton was presented before SDNY Magistrate Judge Sarah Netburn, and freed on consent, on $100 million bond. Inner City Press was in the Magistrates Courtroom and live tweeted it, here: (and podcast here)

  Lawyers whispering about a property in Utah. Seems he'll be freed on bond.

In the front: Milton and four defense lawyers. Three  @SDNYLIVE  prosecutors, including Jordan Estes and Nick Roos. Two Marshals. Awaiting Magistrate Judge Netburn.  All rise.

Milton surrendered at 8 am. Case is assigned to District Judge Edgardo Ramos (who's also in One Coin cases.)

Milton pleads not guilty. Freed on $100 million bond. Less than Tom Barrack's $250 million

Milton can travel Utah, Wyoming, Idaho, Arizona, Virginia and DC (for lobbying?) No contact with investors unless Milton has a relationship with them. Morgan, Utah property appraised over $30 million (contrary to the Pre Trial Services report)

Milton's lawyer says his income is down, no $50 million in bank. Judge Netburn approved free today on $100 million bond. Surrender guns.

On the way from the courthouse to the presser, next to the MCC a dozen Federal law enforcement officers with shotguns stood by a line of white cars. They were not electric, and this was not for Milton.

Milton's reps, not allowed in to the press, have promised Inner City Press and others some answers. Watch this site.


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