Overview

• Trevor Milton, convicted of securities and wire fraud in 2022, announced on social media that President Donald Trump granted him a full and unconditional pardon.
• The White House confirmed the pardon, which nullifies Milton's four-year prison sentence and over $695 million in restitution payments to Nikola shareholders and a wire fraud victim.
• Milton, who resigned from Nikola in 2020 after fraud allegations, was found guilty of misleading investors, including staging a video of a non-functional truck appearing operational.
• The pardon follows Milton's significant financial contributions to Trump and Republican causes in late 2024, raising questions about the motivations behind the decision.
• Nikola Motors, once valued at $30 billion, filed for Chapter 11 bankruptcy in February 2025, marking a dramatic collapse of the electric vehicle company.