Trump Grants Pardon to Nikola Founder Trevor Milton

President Donald Trump granted a pardon to Trevor Milton, founder of Nikola, who had been convicted of securities and wire fraud in 2022. Milton was accused of misleading investors about the capabilities of his company’s zero-emissions trucks.

Trump Calls Conviction Injustice

In a video shared on social media, Milton revealed that Trump had reached out to him, calling the conviction an “injustice” and claiming it was part of a broader effort by the U.S. Attorney’s office in Manhattan to target him and his supporters.

Fraudulent Claims About Nikola’s Trucks

Milton was convicted after a Manhattan jury found he misled investors about Nikola’s technology. A deceptive video showed a truck that appeared operational but was a non-functional prototype. He maintained his innocence, arguing that prosecutors selectively used his statements. Milton believes prosecutors manipulated evidence to build their case against him.

Trump Defends the Pardon

Trump explained in an Oval Office statement that many recommended the pardon, aiming to correct an unjust prosecution. He emphasized Milton’s unjust persecution. Trump claimed prosecutors destroyed Milton’s life through their actions. The pardon reflects Trump’s belief in correcting this injustice.

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Milton’s Financial Contributions to Trump

Campaign finance records indicate that Milton and his wife donated over $1.8 million to Trump’s fundraising committee in October. This contribution has sparked scrutiny, especially given Milton’s recent pardon.

Nikola’s Struggles and Milton’s Departure

Milton founded Nikola in 2015 and took it public in 2020. He resigned after allegations of misrepresentations. Nikola briefly surpassed Ford’s market value but filed for bankruptcy last month. The company faces high costs and challenges in the trucking industry.

Ongoing Legal Battles for Milton

Milton faces civil securities fraud charges from the SEC, which continues despite the pause of the criminal case. Prosecutors seek nearly $661 million from Milton. They aim to recover shareholder losses tied to the fraud. This case remains ongoing as both proceedings continue separately.

Trump’s Pattern of Pardons

Trump issued this pardon in line with his broader pattern of granting pardons, including to figures like Devon Archer. He also pardoned Ross Ulbricht, the Silk Road founder. Throughout his presidency, Trump criticized the Justice Department’s actions. This pardon further reflects his approach to executive clemency.