S10 Ep141: The Mirage (Nikola Motor Company)
Summary
This episode of Swindled exposes the fraudulent rise and collapse of electric vehicle startups Lordstown Motors and Nikola. It details how CEOs Steve Burns and Trevor Milton misled investors with fake pre-orders and non-functional prototypes, inflating their valuations to billions before Hindenburg Research’s short-selling reports revealed the deception. The narrative covers the subsequent stock crashes, SEC investigations, and bankruptcies that left retail investors holding the bag.
Topics discussed
The Rise and Fall of Lordstown Motors
Trevor Milton's Early Life and Business Ventures
Founding Nikola and the Hydrogen Vision
Sponsor Message: Swindled Valued Listener
Bloomberg Exposes the Fake Truck Demo
Hindenburg Report and Milton's Resignation
Sexual Assault Allegations and Blackmail Scandal
Criminal Indictment, Trial, and Sentencing
Trump Pardons Milton and Aftermath
Nikola's Bankruptcy and Podcast Outro
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