WASHINGTON (Diya TV) — President Donald Trump pardoned Nikola Corporation founder Trevor Milton for his 2022 conviction of defrauding investors with false statements regarding the electric truck manufacturer. The pardon was issued Thursday, two weeks after federal prosecutors advised Milton to pay more than $680 million in restitution to shareholders of Nikola.
Milton, 42, had been sentenced to four years in prison in December 2023 for securities and wire fraud but had remained free while appealing the conviction. In a video posted to Instagram, Milton expressed relief and gratitude, calling the pardon “probably the best day I’ve had in five years.”
The White House confirmed the pardon, which effectively eradicated Milton’s conviction and sentence, including a $1 million fine. The move blocks U.S. District Judge Edgardo Ramos from ordering restitution, which had been the focal point of the case.
Nikola, which Milton started, was in the news for having grand plans to make hydrogen and electric trucks, but has tumbled in recent times. In February 2024, the firm filed for Chapter 11 bankruptcy protection with liabilities of between $1 billion and $10 billion. The market value of the company, which had touched $30 billion in 2020, has crumpled with the fraud scandal.
Milton was indicted in 2021 after prosecutors alleged that he made false representations about Nikola’s products, including the purported creation of a working prototype of an electric truck. Prosecutors claim that the false statements encouraged amateur investors to invest in the firm.
Milton, in his statement, averred that the pardon not only vindicated him but also constituted a triumph for Americans who, in his opinion, have been unjustly dealt with by the justice system. He further likened his situation to that of President Trump, who was faced with numerous criminal charges while he was in office.
The pardon is one among several contentious clemency decisions by Trump.
