>> trevor milton is charged with two counts of literary fraud and wire fraud. prosecutors convince the jury that firstly he lied or made misrepresentation about the company technology, its business progress, its commercial agreements, what it achieved, but more than that, they have to prove to the jury that those because retail investors to buy the stock. what he was saying was done in an effort to pump up the stock. the defense are going to argue that he genuinely believed what he was saying, he was telling the truth of what nikola was trying to achieve. there will be debate from the defense about issues of linguistics, what does a prototype mean. what the focus is him a genuinely believing in what he was doing. that argument may sound familiar. i'm thinking of elizabeth holmes and the trail you and i covered in san jose. the big differences this is a publicly traded company. emily: on that note, you're referring to the trial of elizabeth holmes, lengthy trial, several months. is that what you are expecting here? ed: we are expecting five weeks. the judge brie

this witness. >> this was the first witness who was a contract engineer who in 2016 worked with trevor miltonild the nichola -- nikola 1. onstage of that year, milton exaggerated the capabilities and progress, it was missing key parts. much of lackey's testimony was talking about that. he had cross examination by defense this morning and it emerged he participated in hindenburg, short-sellers report published in 2020 and he received a $600,000, some of the profits from the short position hindenburg health. the defense quizzed him about this and he told the jury he gave information in exchange for a share of those short profits. kriti: what about the arguments from the other side of the court case? ed: we are in the early stages but the prosecution argues and hopes to convince the jury that trevor milton who is facing two security fraud charges, two accounts of wire fraud, not only that he made misrepresentation and lied about the company's technology and business progress, but he has to demonstrate that retail investors out of the stock because of those statements made over a period of time w

trevor milton, the founder and former executive chair of nikola, went on trial starting this week chargedlying about the product to mislead investors. let's get back to ed ludlow, who was in court today. what happened? ed: he faces two counts of securities fraud, two counts of wire fraud and you are right, prosecutors have to prove that milton lied about the company's technology and in so doing, misled investors and therefore the investors made the choice to invest in his company based on the inflation. he arrives monday morning in manhattan for the trial, which is supposed to take place in june or july but the judge granted a delay until september 12, monday, so they could take on the fourth count of wire fraud. it is a five-week trial. we started monday with jury selection. tuesday, opening arguments with the prosecution having three weeks to present evidence, then the defense comes in. the burden of proof is on the prosecution. the trial could run through the end of october. the focus of the prosecution is convincing the jury that trevor milton misled investors about the progress, the

trevor milton the founder and former executive chair of nicola is on trial charged with lying about thects and propping up the stocks. ed ludlow is outside the courthouse in downtown manhattan. it is a five dollar stock and to billion-dollar company, what is the significance of the founder being on trial? ed: he was a poster child for the wave of ev companies in 2023 and 2021. i had not had any work with them until that point, and to keep at it going public through that mechanism is that you can make forward projections or statements about what you think your company can do. opening their argument the prosecution said that milton lied about all aspects on the business and the progress that it made on the trucks, the hydrogen fuel was detailed that it was developing. in response the defense was saying it did not lie and it was a distortion. he believed what he was saying and in terms of the investment errors -- investors, all of the information was available publicly through the website documents and the burden of proof is on the prosecution not just to prove that milton lied. he faces t

the founder of nikola, trevor milton, he is facing a securities fraud trial.ilities of electric trucks that didn't prove to fruition. so overhyped the technology. basically fraud is what they're contending in this case and a faked presentation with a truck that didn't work. but he rolled it downhill saying it did. he is indicted on two counts of wire fraud, two counts of securities fraud. jury selection begins on monday. trevor milton who has been on this program, he resigned from nikola in 2020 after being accused by short seller hindenburg research about stock fraud. the stock is down 45% this year. people say this was the start of the end of some of these spac deals. nikola is a spac deal. a lot of these spac deals have not played out as we say. stuart: rolled the truck downhill. susan: saying it was technology it was riding on. stuart: thanks, susan. take a look at the price of gas right now. we've got gas at 3.71. that is the national average. treasury secretary janet yellen says there is a risk gas prices could rise again this year as the european union