fraud

Workhorse Group delivered 14 electric delivery vans to customers in the second quarter but it is going back to the drawing board to figure out how to add more cargo capacity before it resumes ramping up production. In many ways, the Workhorse (NASDAQ: WKHS) earnings report for the April to June...

Indicted Nikola Corp. founder Trevor Milton sold 7 million of his 79 million shares in the electric truck startup last week, pulling in $71.5 million that he may need for his legal fight against federal fraud charges. Separately, Bloomberg reported Milton has hired two lawyers who defended Tesla...

A week ago, Nikola founder Trevor Milton was charged by the U.S. attorney's office in Manhattan with three counts of fraud in connection with the investigation into the electric vehicle startup. Milton says he is not guilty, but Nikola immediately distanced itself from the negative news. We asked...

Nikola Corp. is unlikely to sell any battery-electric trucks this year because of semiconductor shortages for critical components, but it will let select customers and dealers use the trucks to build mileage and get retrofits later. The company said Tuesday it expects to deliver 25-50 nonsaleable...

The former CFO of Roadrunner Transportation Systems was convicted of violating federal securities laws in a complex, $245 million securities and accounting fraud scheme. A federal jury convicted Peter R. Armbruster, 62, of Milwaukee, on four counts, including securities fraud, misleading...

Trevor Milton, founder and former chairman of Nikola Corp., was handed down three federal fraud charges Thursday morning for his alleged involvement in misleading investors and retailers about Nikola's true equipment capabilities.  On this episode of Freightonomics, Zach Strickland and Anthony...

As U.S. Attorney Audrey Strauss began citing the numerous lies alleged against Nikola founder Trevor Milton during a Thursday news conference to discuss the grand jury indictment, she utilized an apt phrase given his former company's position as a green-vehicle maker. "Today's criminal charges...

The owners of three purported Georgia-based trucking companies are facing wire fraud and theft of government property charges after federal prosecutors claim the couple set up shell companies to obtain $364,200 in funds through the U.S. Small Business Administration's Paycheck Protection Program (...

The government is now questioning Holmes's lawyers why their legal draft didn't address the mental health defense they've been appealing to earlier. What Happened: In Elizabeth Holmes' trial, for her fraudulent business practices at the blood-testing startup...

A Missouri woman was sentenced to six years and seven months in federal prison for embezzling more than $700,000 from the family-owned trucking company and farm where she worked. Once released from prison, Christen Diane Schulte, 35, of Washington, Missouri, will serve five years of supervised...

Cryptocurrency project DeFi100 (CRYPTO: D100) has informed its investors that it defrauded them of their funds. What Happened: According to a Saturday tweet by a cryptocurrency analyst, DeFi100 announced that it scammed its users in the following unkind and inelegant message: “We...

Sameer Ismail, the chief compliance officer at crypto finance firm Uphold, has been fired amid accusations of fraud. What Happened: According to a Friday Coindesk report, Uphold said Ismail “wrongfully and fraudulently misdirected” corporate and user funds totaling...

The former president of Pilot Co. wants a federal judge to recuse himself from overseeing the retrial of a fuel rebate fraud case against him and two of his former staffers and is also seeking to have his case moved from Tennessee to another state. Mark Hazelwood was the highest-level executive of...

A former executive at Netflix Inc (NASDAQ: NFLX) faces up to 20 years in prison after a jury in San Jose, California, found him guilty of fraud. Michael Kail was Netflix's vice president in charge of internet technology, Fox2 KTVU in the San Francisco area reported. Prosecutors accused Kail of...

Online payment fraud is expected to increase to more than $20 billion in 2021, according to a new report from Juniper Research. Fraud reached $17.5 billion in 2020. The firm said e-commerce is making it easier for thieves to target consumers, especially as online sales grow at merchants that are...