Nikola Corp. founder Trevor Milton, convicted of defrauding investors in 2022, received a presidential pardon from Donald Trump. Milton had been sentenced to four years in prison but remained free during an ongoing appeal of his conviction for securities and wire fraud. His legal troubles stemmed from deceptive claims about Nikola’s electric and hydrogen-powered truck technologies.
Milton’s pardon, granted two weeks after prosecutors sought $680 million in restitution, invalidates any future restitution orders. Expressing relief, Milton shared his gratitude in a video, calling it the “best day” of his life. He described the pardon as a chance to move forward without further legal threats.
In December 2023, Milton was sentenced to four years in prison, a $1 million fine, seizure of property, and three years of supervised release after serving his sentence. The charges stemmed from false statements he made about Nikola’s electric truck progress, including a faked video showing the Nikola One hydrogen truck running when it was only rolling downhill.
Trump, when questioned, defended his decision by saying Milton had been “exonerated” and faced undue persecution. He emphasized that Milton’s five-year ordeal was rooted in support for Trump during the presidential race. Trump’s comments centered on Milton’s innocence and the hardship he endured, highlighting a personal connection to his actions.
Milton’s case traces back to 2022, where misleading claims about Nikola’s technology contributed to financial losses for investors. Despite the conviction, Milton compared his experience to the political cases of Trump, drawing parallels between their legal battles. His continued political donations suggested a strong alignment with Trump’s allies.
Milton’s ties to Trump were further solidified by a reported $920,000 donation to Trump’s political campaign, or $1.8 million combined with his wife. He was represented by Pam Bondi’s brother in the case. Bondi is currently the U.S. Attorney General.
Nikola, the company Milton founded, has faced significant financial struggles in recent years. After filing for bankruptcy protection in February 2024, it revealed liabilities ranging from $1 billion to $10 billion. This financial decline is compounded by quality issues, including recalls of defective trucks, raising concerns about its future viability.
Nikola’s rapid rise to a $30 billion valuation in 2020 now seems like a distant memory. The company’s fall was fueled by misleading claims, particularly Milton’s promises about the company’s progress with electric trucks. Despite past highs, Nikola’s lack of viable products and mounting legal battles have tarnished its reputation in the tech and automotive sectors.
Milton’s legal troubles stemmed from claims made between 2019 and 2020 about Nikola’s product development. False statements regarding the Nikola One prototype and the Badger truck were central to the fraud charges. These actions led to investor losses, some of which involved significant personal savings, including retirement funds, fueling the case against him.
Though Nikola has since moved on with new leadership, producing battery and fuel-cell electric semi trucks without Milton, these efforts were not enough to stave off bankruptcy. The White House has confirmed the pardon, though it has not yet appeared in official records.
