Overview

• Trevor Milton, founder of the now-bankrupt electric truck company Nikola, was pardoned by U.S. President Donald Trump on March 28, 2025.
• Milton was convicted in 2022 for defrauding investors by exaggerating Nikola's technological capabilities, including staging a promotional video of a truck appearing to function under its own power.
• Trump justified the pardon by claiming Milton was unfairly targeted due to his political support for the Republican Party.
• Nikola Corporation, once valued at $29 billion during the electric vehicle market boom, is in the process of liquidating its assets after filing for bankruptcy earlier this year.
• The company owes significant debts to creditors, including $13.3 million to German auto supplier Bosch, while prosecutors recently sought $661 million in restitution from Milton for defrauded investors.