The Wall Street Journal announced a new collaboration with Alex Gibney’s Jigsaw Productions and Story Force Entertainment to produce a multi-episode podcast series about Nikola Corp. and its former chief executive Trevor Milton.
Milton founded Nikola with ambitions of disrupting the commercial-trucking industry by selling and leasing large semi-trucks powered by batteries and hydrogen fuel. He resigned from the company in September 2020, amid allegations from a short seller that he misled investors.
Milton is now charged with two counts of securities fraud and two counts of wire fraud, according to the indictment. He faces a maximum 25-year prison term if convicted of the most serious securities fraud charge. The trial is scheduled to begin this summer. Mr. Milton has denied the allegations and pleaded not guilty.
“Even at a time when a lot of startups and investors are making big promises about new technologies and greener energy, Nikola stands out as a cautionary tale for the hype and the hope. We’re excited to team with Alex Gibney and Jigsaw to dive into this riveting story,” says Matt Murray, editor in chief of The Wall Street Journal and Dow Jones Newswires.
“We are delighted to partner with the outstanding reporters at The Wall Street Journal and the potent Story Force team,” comments Alex Gibney, filmmaker. “Certain stories are so rich and vital that we can render them in different media in ways that allow for real narrative synergy.”
“When we first heard this jaw-dropping story and explored it with Hindenburg and the whistleblower team, we were blown away,” explains Blye Faust, executive producer at Story Force Entertainment. “We couldn’t imagine more ideal collaborators in The Wall Street Journal and Jigsaw with whom to rigorously report and further unpack this complex story.”