March 28 (UPI) — President Donald Trump issued a pardon to Trevor Milton, the founder of bankrupt electric vehicle maker Nikola.
Milton confirmed the news himself in an Instagram post on Thursday, adding Trump called him personally to deliver the news earlier this week.
“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,” Milton wrote in the post.
“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.”
Federal prosecutors in New York City charged Milton with securities and wire fraud in 2021, contending he lied about “nearly all aspects of the business.”
The Arizona-based startup later that year agreed to pay $125 million to settle federal charges related to defrauding investors.
Milton was convicted by a jury of securities and wire fraud charges after a one-month trial and in 2023 sentenced to four years in prison for misleading investors. He was also ordered to pay a $1 million fine and more than a collective $690 million in restitution to his victims and Nikola shareholders.
During the trial, Milton was represented by Brad Bondi, the brother of now U.S. Attorney General Pam Bondi.
Milton last October donated over $900,000 to a Political Action Committee supporting Trump’s presidential campaign.
Last month, Phoenix-based Nikola filed for Chapter 11 bankruptcy protection in Delaware federal court. The company also filed notice of its intention to begin selling off its assets.
Despite beginning production in 2022, Nikola produced fewer than 1,000 of its EV trucks.
Milton founded Nikola in 2014. The company later went public, eventually securing a strategic partnership with General Motors to build its Badger pickup truck.
