Nikola founder Trevor Milton faces new fraud charge

Trevor Milton, (C) 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

NEW YORK (Reuters) -U.S. prosecutors on Wednesday added a new wire fraud charge to their criminal case accusing Trevor Milton, the founder and former chief executive of Nikola Corp, of defrauding investors by lying about the electric- and hydrogen-powered truck maker.

The new charge concerns Milton's alleged effort to defraud the seller of Wasatch Creeks Ranch in Utah by making false and misleading statements about Nikola's products and business prospects.