Former Nikola Corp. CEO Trevor Milton, recently convicted of fraud, has been granted a presidential pardon by Donald Trump. This pardon retroactively erased his October 2022 conviction for securities and wire fraud. Milton’s conviction was primarily based on misleading statements he made about Nikola’s business success, which significantly inflated the company’s valuation. Reading Milton’s pardon came after he had been released on bail awaiting appeal. This ruling follows his sentencing in December 2023 of four years imprisonment, plus substantial monetary penalties and restitution.
In July 2021, Milton ran into some career-ending legal troubles. Now, he’s been indicted in U.S. District Court in Manhattan on securities and wire fraud charges. The charges were related to misleading statements he made to investors covering almost every facet of Nikola’s business. These intentional misrepresentations ultimately resulted in a guilty conviction in October 2022. Fortunately, Milton was only threatened with $1 million in fines. He was sentenced to pay $680 million in restitution to his victims, Nikola shareholders, and $15.2 million to Peter Hicks, another victim of his wire fraud scheme.
Despite his sentencing, Milton was not in custody as he was allowed to remain free pending resolution of a still-pending appeal and epitomized as all get-out political contributions politically during Republican Party this whole awesome time. From September 2024 through December 2024, he donated $2 million in total. Specifically, $920,000 of this sum was contributed to the Trump 47 Committee.
He went on to share how this shift has deeply affected his private life.
“I just got a call from the president of the United States, on my phone, and he signed my full and unconditional pardon of innocence.” – Trevor Milton
Beyond the injustice of his own case, Milton used his experiences to provide critique of the justice system itself.
“I am free. The prosecutors can no longer hurt me. They can’t destroy my family, they can’t rip everything away from me, they can’t ruin my life.” – Trevor Milton
The pardon has re-ignited concerns about Milton’s web of connections and political donations, with many asking whether these had a direct influence on the decision. His donations to Republican causes in late 2024 were controversial at the time, especially his $1 million donation to Trump’s new political committee.
“It is no wonder why trust and confidence in the Justice Department has eroded to nothing.” – Trevor Milton
As you may recall, Trevor Milton started Nikola Corp., a company that laid out radical innovations in electric vehicles at the time. His deceptive claims about the company’s technology caused investor lawsuits and life-altering financial disaster. In addition to his criminal conviction, Milton faced a nearly $168 million arbitration award against him due to these misrepresentations.
Milton has shaped his pardon into a larger success against the perniciousness of government overreach.
The presidential pardon expunges him from his earlier conviction. That does not relieve the financial responsibilities created by his fraud. This includes fines levied by the court as well as millions in restitution to victims harmed by his behavior.
“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.” – Trevor Milton
The presidential pardon effectively absolves him of his previous conviction, but it does not erase the financial obligations he incurred due to his fraudulent activities. These include penalties imposed by the court and substantial restitution to those affected by his actions.