Edward Imperatore spoke with the Wall Street Journal about the jury's verdict in the securities fraud trial of Nikola Corp. founder Trevor Milton. The jury returned guilty verdicts on counts of securities fraud and wire fraud but acquitted Milton on another securities fraud count that involved the same theory and conduct. Jurors told the Journal that they did not think Milton had acted with criminal intent.
Edward discussed whether the jurors may have misunderstood the law, because criminal intent was a required element for conviction on both securities-fraud counts.
"'The intent requirements of [the securities fraud counts] are essentially the same,' said Edward Imperatore, a former Manhattan federal prosecutor now at Morrison & Foerster LLP. He said the two wire-fraud counts also required criminal intent. 'If they didn't find criminal intent, they should have acquitted him for every count,' Mr. Imperatore said."
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