US President Donald Trump has fully and unconditionally pardoned Trevor Milton, the founder of electric truck startup Nikola, expunging his convictions for securities fraud and wire fraud, Engadget reports.
The pardon comes two weeks after federal prosecutors asked the court to order Milton to pay $680 million in damages to Nikola shareholders and another $15.2 million to a victim of wire fraud. The presidential pardon means the court will now be unable to make either decision.
In 2022, a jury found Milton guilty on three counts, including securities fraud and two counts of wire fraud. Prosecutors alleged that he systematically misled investors about the company’s capabilities and condition, including a 2018 video showing a Nikola One prototype truck appearing to be moving on its own — when in fact it was simply rolling down a hill.
Nikola, once valued at more than Ford and hailed as a breakthrough in clean transportation, filed for bankruptcy last month. The company came under scrutiny from regulators and investors after a high-profile report by Hindenburg Research in 2020.
In 2023, Milton was sentenced to four years in prison, but he never pleaded guilty and has already stated that he plans to release a documentary to present his own version of events.
The pardon has already drawn criticism for Milton's lavish political donations. According to the Federal Election Commission, he donated $750,000 in September to the MAHA Alliance, a political committee affiliated with current Secretary of Health and Human Services Robert F. Kennedy Jr., and in October he transferred another $920,000 to the Trump 47 Committee, just weeks before the election. Interestingly, Milton did not make similar contributions of hundreds of thousands of dollars until 2024.
Since returning to the White House, Trump has already pardoned more than 1,500 people, including many connected to the attack on the Capitol on January 6, 2021. On his second day in office, he also pardoned Silk Road founder Ross Ulbricht, who was sentenced to life in prison for money laundering, drug trafficking, and computer hacking.
Meanwhile, relatives and associates of convicted FTX crypto exchange founder Sam Benkman-Fried, who was sentenced to 25 years in prison in 2024 for fraud and conspiracy, are also reportedly campaigning for a presidential pardon.
Milton's pardon permanently removes any legal responsibility from him and makes any future financial sanctions impossible.