The billionaire founder of electric truck firm Nikola has been charged with three counts of fraud for allegedly lying to investors about 'nearly all aspects of the business.'

Trevor Milton, 39, was indicted on two counts of securities fraud, including making false statements about the company, and wire fraud, the US Department of Justice announced Thursday.

The former CEO and executive chairman of Nikola voluntarily surrendered to authorities Thursday and has been taken into federal custody in Manhattan, New York. He will make his first appearance in court later today.

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Nikola Founder Indicted For Misleading Investors

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