Trevor Milton, the controversial founder of Nikola, is attempting to buy back the bankrupt electric truck company’s assets, according to court filings and a person familiar with the matter.
Nikola filed for in February and hopes to sell its business by mid-April. However, Milton’s bid was met with resistance. As previously reported by the Phoenix Business Journal, Nikola blocked him from personally inspecting the Coolidge, Arizona factory earlier this month.
Milton founded Nikola in 2014 and took it public in 2020 through one of the first high-profile He stepped down months later amid fraud allegations, was convicted of securities fraud in 2022, and sentenced to four years in prison in 2023. He was just last month.
A Nevada-based entity called ISSO LLC submitted a bid on March 21. Nikola allowed the group to inspect the factory with conditions — no photos or videos, and one representative barred from entering. That representative, according to court descriptions, appears to be Milton.
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