Saturday, September 24, 2022

In Trevor Milton Trial He Wants Retail Investors Excluded after Courting Robinhood Demographic

 

By Matthew Russell Lee, Patreon Maxwell book
BBC Honduras - CIA Trial book - NY Mag

SDNY COURTHOUSE, Sept 21 – The trial of Nikola founder Trevor Milton for wire and securities fraud moved, on September 21, to the direct and cross examination of Nikola's social media manager Stephanie Amzallag. Notably, she called Tesla Charts, a podcast Milton was on, "pro Tesla."  Inner City Press was there. Thread here and below.

After the trial day, his lawyer Ken Caruso filed a letter seeking to exclude the testimony of retail investors as ill-informed. This after Milton said the purpose of the Badger pick up truck was so "Robinhood" investors could touch Nikola's product. Letter on Patreon here.

From Sept 21: OK - US v. Trevor Milton trial continues, now Nikola social media boss Amzallag on the stand, Bondi objecting to everything, mostly unsuccessfully.

AUSA: Did Mr. Milton comply with your social media policy?

Brad Bondi: Objection! Judge Ramos: Overruled.

 Stephanie Amzallag: No, he did not. AUSA: Did you suggest that Mr. Milton do the podcasts along with CEO Mark Russell.

Amzallag: Yes. But Trevor said he preferred to do it solo. AUSA: Are you aware of Tesla Charts? Amzallag: Yes, a pro-Tesla podcast. Trevor told us he wanted to do it.

AUSA: What is this? Amzallag: Elizabeth Fretheim's list of more than a dozen problems in what Trevor said on Tesla Charts.... AUSA: No further questions for Ms. Amzallag at this time. Judge Ramos: Jurors, we'll take a break. 

Jury is back. Judge Ramos: You heard about Nikola's internal social media policies. You may consider that, but I will be instructing you on the law at the end. Milton's lawyer Brad Bondi.  Bondi: How much time did you spend with the government?

Amzallag: Two hours. Bondi: In total?!?

 Amzallag: No, per day. Bondi: Would it surprise you to know, 15 hours? You created this document for the government?

 [After sidebar] Bondi: So this says that Trevor was offering to do a live stream chat? Amzallag: I'm not sure. Bondi: You sent it to others. You were monitoring Mr. Milton's tweets, right? Amzallag: I was. I was monitoring YouTube, too.

Bondi: Do you recall Trevor trying to delay his appearance on the Tesla Charts podcast so that he could prepare for it? Amzallag: I do not. Bondi: Does this refresh your recollection? Amzallag: No.

Bondi: So here, the podcasters tell Nikola it is going live at noon, they will send you the link - and you, Stephanie, will link to it - right? Amzallag: Yes.

They're back from break. Bondi: So this calls Trevor's performance on Tesla Charts as "truly phenomenal," right?

Amzallag: It says that. Bondi: Wouldn't you say this was an encouraging email? Amzallag: It provided positive reinforcement.

Bondi: You've said, I don't remember. Were you told to day that on cross examination? Amzallag: No.

Bondi: Did you meet with the lawyers for Nikola, Kirkland & Ellis? And Paul Weiss?

Amzallag: I'm not sure.

Bondi: No one told you to take down the Tesla Charts podcast, did they?

Amzallag: I don't think so

Bondi: And here you are, editing a promotion script for about the Badger [pick up truck sketch] for Heavy D of the Diesel Brothers on Discovery, right?

Anzallag: Yes

Trial will continue.


The case is US v. Milton, 21-cr-478 (Ramos)

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