Trump pardons Nikola founder convicted of fraud
Nikola founder Trevor Milton announced Thursday on social media that he had been fully pardoned by President Donald Trump.
"Today I was issued a full and unconditional pardon by @realdonaldtrump himself. He called me personally to tell me," Milton noted.
The Associated Press reported that the White House confirmed on Friday that the president had pardoned Milton.
Fox News Digital reached out to the White House on Friday but did not receive a response by publication time.
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"This pardon is not just about me—it’s about every American who has been railroaded by the government, and unfortunately, that’s a lot of people. It is no wonder why trust and confidence in the Justice Department has eroded to nothing... I saw firsthand the tactics they use to guarantee convictions. I am incredibly grateful to President Trump for his courage in standing up for what is right and for granting me this sacred pardon of innocence," Milton's social media post continued.
Milton and his wife gave more than $1.8 million to a Trump re-election campaign fund less than a month ahead of the 2024 election, the AP reported, citing the Federal Election Commission.
Nikola makes hydrogen-electric and battery-electric semi-trucks, but Milton has not been with the company for years. In 2020, the business announced that Milton was stepping down from the board.
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"In October 2022, MILTON was convicted by a jury of securities fraud and wire fraud in connection with his scheme to defraud and mislead investors about the development of products and technology by Nikola," the Department of Justice noted in a December 2023 press release.
Another December 2023 DOJ press release noted that Milton had been sentenced to four years in prison. Though the AP noted that he had not been locked up, pending an appeal.
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The company made a bankruptcy announcement last month.
"Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware," a February press release noted. "Nikola has also filed a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code."