Is this truck running by itself? This is the question asked by many nikola skeptics and as we'll soon cover in this video. This truck is actually rolling downhill. Over the past few days, there's been quite a lot of controversy, centering around a research report on nikola motors. In this report, hindenburg research provides some very long but extremely convincing evidence all pointing to the facts that nicola motors is an intricately woven fraud.

Many of you know that i've been skeptical about nikola, based on a few key factors. This recent report truly proved these skepticisms to be correct, as it includes evidence from previous employees lies and weeks of research to any nicola investors. Please be open-minded about this video because, while this certainly isn't financial advice, it is research that you should take into consideration. As a possibility in this video, i'm going to go over the intriguing but dark story about how trevor milton scans millions of dollars, out of not just nikola investors, but also his previous companies, welcome to cas gaines academy.

If you're new to the channel, please consider subscribing for more content like this and let's get right into it. Now before we get into nikola, let's backtrack earlier into trevor milton's career in november of 2009 trevor decided that he would drop out of utah valley university. To start his own company named saint george security and alarm, he convinced one of his friends to help him with the business and split it 50-50. However, after a very short period of time, trevor decided that he would sell the business and start a new one when pitching the business to potential investors trevor over promised on several metrics leading the final buyer.

To pay for a total loss in the end trevor walked away with three hundred thousand dollars and his business partner received one hundred thousand dollars so right off. The bat trevor already scams his business partner by claiming it was 50 50, but ends up taking 75 percent of the money. While this amount totals to 400 000 trevor always claims the amount to be two million and uh within a few within a few uh. Within about a year or two, i had sold it for almost two million dollars and i thought i was like on top of the world.

You know i was like. Oh i'm like expert at this thing. So now trust me, this is only the beginning and it gets a lot worse. After leaving the alarm business trevor started an online business named youpillar.com.

This website would sell used cars to people all around the world according to forbes and many other interviewers. This website had 80 million users per month and was on track to be the next amazon. You heard that right, the next amazon i took that money and uh reinvested it into a company called upiller.com that was uh way ahead of its time, actually um. We, if i was not in utah and if i would have been in silicon valley, we probably would have - we probably would have been what amazon is today, because we we were beating amazon at what they were doing.

We beat amazon, be ebay, we were growing, we had 80 million people on our site and ultimately, we would have ended up being amazon, but we were in utah and at the time utah had no clue what investment was around the internet. So we just grew too fast, and that was alert. That was a lesson for me as uh at that time was not to grow too fast and it really kicked our butt and we shut down the company lost everything. It was a really difficult thing to shut a company down.

That's growing! That's that's like one of the most difficult things to ever do when hindenburg research spoke to a former employee at u-pillar, they claimed that their traffic was so low. That much of our time was spent approving classified postings. We were always able to keep up with it with only a few of us approving them. In addition, u pillar did not have the first shopping cart as the first shopping cart was used in 1994.

However, u-pillar was founded in 2009, making trevor's statement not just incorrect, but extremely off, so after u-pillar went bankrupt, trevor decided he would enter the vehicle business with a company named d-hybrid trevor milton's third business d, hybrid, planned to store natural gas in trucks, essentially allowing for Diesel trucks to run on natural gas at first the company went well and was able to secure a 16 million dollar contract with a trucking company named swift transportation. Swift's ceo, who was later impressed that trevor's later found to be misleading numbers, invested two million dollars for nine percent of the company. However, the ceo had some skepticisms and asked for trevor to convert 10 of its trucks before committed to the 16 million dollar contract for 800 trucks. Immediately d hybrid failed to meet the agreement.

Trevor was only able to convert five of the trucks and those trucks did not meet up to trevor's promises. Swift, which realized that the hybrid was a fraud filed a lawsuit against the company. Trevor's new company was in huge trouble and he frantically searched for new investors when pitching his company trevor claims that his contract with twist is worth 250 million dollars, when is only worth 16 million. In addition, he also told investors that they were saving swift's 38 of their fuel costs, which swifts later confirmed to be false.

Instead, d hybrid was only saving at maximum 24 of swift's fuel bill on the five trucks that converted to natural gas. With these over promises, trevor was set to find a buyer that was interested leading him to find a company named sustainable power group. Sustainable power group entered negotiations to purchase the company, but after one month the company backed out and terminated negotiations suing trevor milton for quote-unquote significant misinterpretations. This lawsuit allegedly stated that d hybrid had not as represented completed development of the d hybrid system.

In addition, d hybrid had not begun. The epa certification process that they claimed have been falsely representing fuel, cost savings and was misrepresenting results from swift's five diesel semi-trucks after being caught for these fraudulent claims. Trevor then pitched to more investors, but didn't have a chief technology officer and guess what happens next. He puts a fake cto into his presentation in an attempt to sound, more professional yup trevor, put a non-existent cto into his presentation, a man who was later found to be steve, scott, a person not even affiliated with trevor's company.

Now, because d hybrid was under investigation. Trevor decided he needed to create a new company in 2012 trevor created a new company named d hybrid systems, which was the exact same company from before, but with systems behind it. Despite the facts that he created, a new company trevor claims that the hybrid systems had been operating for years and in 2014, after concealing potential fatal product issues, he sold the company to worthington industries for 15.9 million dollars. Yet, despite this, he claims in interviews that he sold it for 20 million dollars.

Just one year later, in 2015, worthington wrote down the value of d hybrid's assets, claiming a 2.3 million dollar impairment and a 1.5 million dollar warranty expense. Now, with d-hybrid out of the way we can move on to the company, we all know today, nicola motors, in 2016, after selling d, hybrid trevor founded nikola motors, today's so-called tesla killer nicola was preparing to release its first vehicle, the nikola one. This vehicle will be revealed in a hyped-up event, where trevor claims that the vehicle will be fully built. These events are known as nikola world, which are nikola events where the company shows off its new vehicles.

However, on nicolas unveil the nikola one, a bloomberg reporter by the name of edward ludlow, spotted the fraud, the nikola one shown on the stage, was inoperable with several missing parts. Of course, bloomberg was right and, as more evidence was unveiled, edward refused to back down on his claims. Soon. Trevor had no choice but to admit that the truck was not functionable.

In november of 2016, trevor achieved a new record hydrogen breakthrough and opened up reservations for nicola's new hydrogen truck, which officially replaced the previous natural gas nikola one and was also called the nikola one. While trevor claims that the nikola one was hydrogen, the truth is that it was still operating on natural gas when unveiling the new nikola one to the public. The truck did not actually have hydrogen according to an anonymous nikola insider brayton energies applied the natural gas turbines which were hidden deep inside the truck so that nobody could see it in order to power. The interior cabin trevor used a cable that was under the truck in 2018, when investors were asking to see the nikola wanted.

Movement trevor had an idea how about they rolled the nikola one down a hill, but make the camera angle seem like the truck is going uphill. A former employee revealed that this is exactly what they did. The employee stated. I asked kevin how it was going to work and he said they would tow it to the top of a super low grade hill and let it roll now.

You might be skeptical of this employee and so is hindenburg. So hindenburg research sent an investigator to see if they could roll their car in the exact same location. The results showed that they could roll their honda for 2.1 miles and reach a top speed of 56 miles per hour sounds about just right for nicola. In april of 2019 trevor unveiled nikola's off-road vehicle that would rival the best of the best when we unveil is pay close attention to the workmanship, the interior, the exterior it rivals some of the best automotive engineering in the world.

This is on an off-road vehicle. This is a moment that people from around the world have been waiting for. I want to focus on the design and how proud i am of the team. Just look at this.

What's amazing about this, is it's more like a vehicle and less like a classic off-road toy? If you look at the current market out there, it literally is plastic parts everywhere as cheap as they can possibly make them that you're putting your family into what hindenburg later found out about this nzt vehicle was that the design shown on stage was not even functionable. Leading nikolai to claim that they would do a quote-unquote massive redesign before the company could bring the nzt to market in the same month. Trevor also made another lie that nicolas headquarters had 3.5 megawatt hours of solar installed on its roof. We are the only off-grid headquarters that we know of uh completely off of hydrogen battery and solar.

We have 3.5 megawatts of solar up on the roof, producing about 18 megawatts of energy a day in our headquarters and we're storing 10 000 kilograms of hydrogen and using what drone shots show. On the other hand, is that nicholas buildings have no solar panels whatsoever. Yet another blatant lie in november of 2019 trevor claims that nikola achieved a record battery breakthrough according to trevor himself, you're talking 600 plus mile range in a model 3 tesla you're, talking 50 less cost than lithium ion you're talking mass adoption of zero emission vehicles could Be worth hundreds of billions, if owned by one company, that we decided to share with the competition for the greater good when asked about whether it was real trevor stated. It's real i've seen it with my own eyes and watched them cycle as we'll soon cover this battery never existed, niklas announcement of its partnership with gm pumped nikola stock up by almost 40 percent and gm stock by about 8.

In one day, however, if any nikola and gm investors are watching, this don't get too excited. The battery does not use nicola's, quote-unquote groundbreaking battery or hydrogen breakthrough technology which never existed in the first place. Contrary to what we all believed, the battery will use gm's battery and hydrogen technology, making it quite obvious that nikola never had the groundbreaking technology that the company claims to have mary. As part of this deal, gm says it expects to receive an excess of four billion dollars of benefits.

What you're calling benefits between the equity values so we'll call that the two billion dollar value, along with cash contract manufacturing of the badger? So i'm assuming those are going to be contracts that that that that nicola is going to be paying you is that right, sure, uh. You know, in addition to all the technology that we're bringing in the value from both an ultim and a hydrotech technology perspective. There also, then, is uh we'll be doing the manufacturing and validation and engineering. So all of that comes together and again it's for the badger, but it's also for the fieldset fuel cell technology for the nikolai products in the class, seven and eight truck business.

So this is a huge growth opportunity for us and, as trevor said, as we started to talk, we realized we shared a common uh vision of the world of creating an all-electric feature. The teams have already begun discussions and i there's there's really good chemistry between the technical teams, so we couldn't be more excited about working with nicola when nicola announced that it would manufacture the badger with gm's technology that truly exposed the fraud. That is trevor milton once and for all. Do you see the pattern with all of trevor's previous companies? He inflates the valuation through over promises doesn't deliver and attempts to sell the company by overstating the delivery, leaving trevor with a boatload full of money with nikola we're.

Currently, in stage one over promises now, because i don't want to make this video 30 minutes, there are a few points that i didn't mention from the hindenburg report. If you're interested in reading the article i'll have it linked in the description below, let me know whether or not you believe the statements made by hindenburg. Do you think that nikola has been exposed, or do you believe that the claims made in the report were false? If you enjoyed this video, please hit the like button and subscribe and i'll see you in the next one.