OK - US v. Trevor Milton trial, with Utah land seller on the stand, Inner City Press is covering the #Nikola case innercitypress.com/sdnytrial16nik… @NKLA tale and will live tweet, thread below patreon.com/posts/extra-to…
AUSA: Mr. Hicks, did there come a time that you filed a lawsuit against Mr. Milton?
Hicks: The winter of this year.
AUSA: What is the demand?
Hicks: $45 million. Under Utah fraud law, it's treble damages.
Hicks: The winter of this year.
AUSA: What is the demand?
Hicks: $45 million. Under Utah fraud law, it's treble damages.
AUSA: Who contacted who?
Hicks: The government contacted my attorney.
AUSA: Did you invest in Nikola based on that [recorded] call?
Milton's lawyer Torrey Young: Objection.
Judge Ramos: Overruled.
Hicks: Yes, I invested because of the call.
Hicks: The government contacted my attorney.
AUSA: Did you invest in Nikola based on that [recorded] call?
Milton's lawyer Torrey Young: Objection.
Judge Ramos: Overruled.
Hicks: Yes, I invested because of the call.
AUSA: If it turned out Nikola did not have the dedicated routes, would it have changed your view?
Hicks: Yes.
AUSA: If they had no contracts to produce hydrogen, would it have changed your evaluation of the deal with Milton?
Hicks: Yes.
AUSA: No further questions
Hicks: Yes.
AUSA: If they had no contracts to produce hydrogen, would it have changed your evaluation of the deal with Milton?
Hicks: Yes.
AUSA: No further questions
Judge Ramos: Cross examination.
Milton's lawyer Torrey Young: Mr. Hicks, you're seeking fooorty fiiive million dollars [says it slow] from Trevor Milton, correct?
Hicks: Yes.
Young: But you sold the ranch to Trevor for more than you paid, right?
Milton's lawyer Torrey Young: Mr. Hicks, you're seeking fooorty fiiive million dollars [says it slow] from Trevor Milton, correct?
Hicks: Yes.
Young: But you sold the ranch to Trevor for more than you paid, right?
Young: And you only sued after you found out that Trevor Milton was charged with a crime, right? Your lawyers called and made a threat?
Hicks: I'm not going to characterize it that way.
Hicks: I'm not going to characterize it that way.
Young: You proposed that Trevor pay $39 million for a property you'd paid $4 million for, right?
Hicks: It was a proposal to resolve the matter.
Young: And when Trevor Milton said no, you sued, correct?
Hicks: Yes.
Hicks: It was a proposal to resolve the matter.
Young: And when Trevor Milton said no, you sued, correct?
Hicks: Yes.
Young: You're a lawyer, right?
Hicks: I haven't practices law since 1984.
Young: But you have a law degree, yes?
Hicks: Yes.
Young: The phone call, it was recorded by Lucas Hicks on his phone and he gave it to the US, right?
Hicks: Yes.
Hicks: I haven't practices law since 1984.
Young: But you have a law degree, yes?
Hicks: Yes.
Young: The phone call, it was recorded by Lucas Hicks on his phone and he gave it to the US, right?
Hicks: Yes.
Young: When the call was recorded, you were in Massachusetts and you didn't tell Trevor in Utah that he was being recorded, yes?
Hicks: I think that's accurate.
Young: It was illegal, right?
Hicks: I don't know enough to say that.
Young: You've heard of immunity?
Hicks: I think that's accurate.
Young: It was illegal, right?
Hicks: I don't know enough to say that.
Young: You've heard of immunity?
Young: Your a real estate mogul, right?
Hicks: I wouldn't characterize it that way. I did my first land transaction in 1998.
Young: Let's play the recorded call.
[On it, Trevor says he doesn't enjoy SEC filings, that his forte is not running factories]
Hicks: I wouldn't characterize it that way. I did my first land transaction in 1998.
Young: Let's play the recorded call.
[On it, Trevor says he doesn't enjoy SEC filings, that his forte is not running factories]
Young: You've heard that stock goes up and down, right?
Hicks: I have. But while I was willing to take the market risk, I was not willing to take the fraud risk. Under Utah law --
Young: Objection! Move to strike!
Judge Ramos: Sustained.
AUSA: May we approach?
Hicks: I have. But while I was willing to take the market risk, I was not willing to take the fraud risk. Under Utah law --
Young: Objection! Move to strike!
Judge Ramos: Sustained.
AUSA: May we approach?
There's been an argument about the prosecutors' summary charts. Milton's lawyer Brad Bondi wants reference to Milton buying hunting rifle(s) omitted "for this New York jury." They'll be referred to as "miscellaneous" expenses.
AUSA reading long list of exhibits.
Now next witness, self-described mid-level investor Mark Schonberger. He lives in Fort Lauderdale, owns a medical sales company and trades on Robinhood.
AUSA: How did you hear about Nikola?
Schonberger: Multimedia, stuff on TV
Now next witness, self-described mid-level investor Mark Schonberger. He lives in Fort Lauderdale, owns a medical sales company and trades on Robinhood.
AUSA: How did you hear about Nikola?
Schonberger: Multimedia, stuff on TV
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