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Trevor Milton, the brain behind the electric-truck company Nikola, previously found guilty in 2022 for deceiving investors and subsequently sent to prison, claimed he has been granted a pardon by former US President Donald Trump.
Milton shared on X, "I’ve received a full and unconditional pardon from @realDonaldTrump himself. He personally gave me the call."
Back in December 2023, Milton faced a four-year prison sentence for misleading investors concerning Nikola’s technological advancements, aiming to inflate the company’s stock value.
On X, he remarked, “This pardon represents more than just my situation—it reflects on every American unjustly treated by the government… It’s no surprise public trust in the Justice Department has evaporated.”
However, the details of this pardon have yet to appear on the US Justice Department’s website or be confirmed by Trump via his Truth Social platform. Milton’s lawyer, Brad Bondi, who is also the brother of US Attorney General Pam Bondi, was unavailable for immediate comment.
Nikola, once nearly valued at $30 billion, sought Chapter 11 bankruptcy protection in February after its cash reserves dropped to just $47 million.
The company initially thrived during the special purpose acquisition company (SPAC) craze, when even revenue-less or product-less businesses caught the eye of retail investors on public markets.
But its surge was abruptly stopped by Hindenburg Research, a short-seller that released a damning report in September 2020, labeling Nikola an “intricate fraud.”
In a trial lasting five weeks in 2023, Milton’s legal team contended that imprisonment was not warranted, arguing that he perceives the world differently than most. They appealed to the judge to avoid drawing parallels between Milton’s acts and those of Elizabeth Holmes, founder of Theranos, who faced conviction for fraud with an 11-year prison term.
Prosecutors during the trial described Milton as “a conman” who used his profits from Nikola to acquire a property in the Caribbean and a private jet.
A news release from Trevor Milton Media on Thursday pointed out the "striking similarities" between the accusations against the Nikola founder and Trump’s conviction for conspiring to silence a porn actress prior to the 2016 election and falsifying business records.
The statement mentioned that Milton now intends to concentrate on a documentary detailing his life, entitled Conviction or Conspiracy: The Trevor Milton Saga, which “invites viewers to revisit one of the most controversial narratives in modern business history.”
Since assuming the presidency, Trump has also pardoned Ross Ulbricht, who was handed a life sentence in 2015 for running an online black market for illegal substances and hacking. On his inaugural day in office, Trump also issued an executive order pardoning about 1,500 individuals associated with the January 6, 2021, attack on the US Capitol.
