Chad Everett Harris and Riot held two groundbreaking ceremonies, one in July and another in October. The Corsicana mining facility was announced in April and is supposed to be operational by summer 2023. If it took them 6 months to break ground (twice), then it feels like they are trying to generate excitement based on illusions. Who breaks ground twice?
Recently, Trevor Milton, the founder and former executive chairman of Nikola, has been found guilty on three counts of fraud for misleading the electric vehicle company’s investors about its business and technology.
In total, he was found guilty on one count of securities fraud and two counts of wire fraud. He was acquitted on one charge of securities fraud. His sentencing has been scheduled for January 27th. He faces up to 20 years in prison.
Milton was indicted by a federal grand jury on the charges last year, with prosecutors citing numerous alleged lies, including many made on Twitter, in podcast interviews and other media appearances. Prosecutors alleged he had lied about “nearly all aspects of the business” in an effort to boost the stock of the EV maker.
The SEC began investigating the company in 2020, after Hindenburg Research publicly accused Nikola of staging an “elaborate ruse” to mislead the public about the status of its electric semi, Nikola One. While the company had published a video purporting to show the truck “cruising on a road at a high rate of speed,” Hindenburg said the truck had actually been “towed to the top of a hill on a remote stretch of road and simply filmed it rolling down the hill.” The company ultimately paid $125 million to settle civil charges with the SEC in 2021.
During the trial, Milton’s defense lawyer argued that the video was merely “special effects” and that “it’s certainly not a crime to use special effects.” But prosecutors raised several other false claims by Milton, who was extremely active on Twitter. According to The Times, prosecutors said Milton also lied about having “binding contracts with trucking companies” that in reality were cancelable reservations for vehicles. Prosecutors also cited Milton’s claims about making “green hydrogen” when the company had not yet produced any.
Behind the Videos, Marketing & Hype – Whinstone, Chad Everett Harris, Riot, and Northern Data
Find the Northern Data — A Shady Bitcoin Mining Host, camouflaging under High Performance Computing/Artificial Intelligence Story article posted here.
Chad Everett Harris, Whinstone US, RIOT Blockchain, sued for $50MM, click here.
Chad Everett Harris, Whinstone, Riot Blockchain, Northern Data AG accused of accounting fraud Read that article here.
Chad Harris defaults on million dollar loan, click here to learn more. Be sure to read the court doc. It’s a hoot, He tries to play the victim. The judge ain’t buying it.
Chad Everett Harris owned this business while defaulting on loans and invoices. Click here to learn more.
Chad Everett Harris is a porn spammer? We believe he did that while sending email like these to the people he owed money to.