Trevor Milton, Convicted Nikola Founder, Receives Surprise Trump Pardon
Staff Editor Trump Pardons Nikola Founder Trevor Milton, Convicted of Fraud
In a surprising turn of events, Trevor Milton, the founder of electric truck startup Nikola Motors, has been pardoned by former President Donald Trump. Milton, who was sentenced to four years in prison for fraud in 2023, announced the pardon via an Instagram video, stating that Trump had personally called him. The White House has since confirmed the pardon to Business Insider.
Milton founded Nikola in 2014, and the company quickly gained prominence in the electric vehicle market. At its peak, Nikola’s valuation surpassed that of Ford Motor Company. However, Milton’s tenure at the company came to an abrupt end in 2020 following a critical report by Hindenburg Research, which alleged that Milton had exaggerated the capabilities of Nikola’s trucks and faked promotional videos.
The allegations led to legal consequences for Milton, who was convicted of fraud for misleading investors about Nikola’s truck capabilities. Prior to the pardon, Milton had been free pending an appeal of his conviction.
The pardon comes at a time when Nikola is facing significant financial challenges. The company recently filed for Chapter 11 bankruptcy, and a judge had ordered Milton to pay $680 million to Nikola shareholders and an additional $15 million to investor Peter Hicks. The pardon raises questions about the status of these restitution payments.
Milton’s political connections have come under scrutiny in light of the pardon. In his Instagram video, Milton praised Trump and revealed that he had made significant political donations to Republicans, including $920,000 to a Trump fundraising committee. Milton described his situation as “the greatest comeback story in America.”
Representatives for Milton have not commented on the pardon, and there is uncertainty about its impact on his legal and financial obligations. The development has sparked speculation about Milton’s future endeavors and potential comeback in the business world.
As this story continues to unfold, many will be watching to see how the pardon affects Milton’s legal status and what it means for the future of Nikola Motors and its shareholders.
