Overview

• Nikola Corp. founder Trevor Milton, convicted of fraud, is seeking probation instead of prison time, with his lawyers arguing that his case is not comparable to that of Theranos founder Elizabeth Holmes, who is serving an 11-year sentence for fraud.
• Milton's lawyers claim he never acted in a 'greedy or mean-spirited way' and that any false statements were the result of his unwavering faith in his company.
• They argue that unlike Theranos, which had no successful product, Nikola is a 'real company with real products' and that Milton's actions did not put customers at risk.
• Milton's sentencing is scheduled for November 28, with court officials recommending between 17 1/2 years and 22 years in prison.
• Nikola, which continues to operate from an Arizona headquarters, paid $125 million last year to settle a civil case against it by the Securities and Exchange Commission, without admitting any wrongdoing.