What a risk gift we have received in the last week, in the form of Trevor Milton, founder of electric vehicle manufacturer – Nikola – being indicted by a federal grand jury on three counts of criminal fraud. The US Securities Exchange Commission (the SEC) has also filed a complaint against MIlton

I say risk gift, not because what is happening is wonderful. Milton’s indictment will see thousands of investors lose over the coming weeks. And Nikola leadership will have to steady a ship that is now without a captain.

I say risk gift, because what we are seeing with Milton’s indictment, is threat playing out in real time. For risk practitioners, these moments are rare and – when they happen – we’re almost honor bound to absorb every moment. Because the lessons we will learn are the lessons that make us better practitioners. And make our organizations stronger and more resilient.

On this week’s episode of the Risktory Podcast, I explore just how Milton and Nikola found themselves in this position.

The Risktory Podcast is created, written, hosted and produced by Jacinthe A Galpin.

All rights reserved.

Bibliography
https://hindenburgresearch.com/nikola/
https://en.wikipedia.org/wiki/Nikola_Corporation
https://www.sec.gov/news/press-release/2021-141
https://www.justice.gov/usao-sdny/pr/former-nikola-corporation-ceo-trevor-milton-charged-securities-fraud-scheme
https://www.cnbc.com/2021/07/29/us-prosecutors-charge-trevor-milton-founder-of-electric-carmaker-nikola-with-three-counts-of-fraud.html