Trump Grants Controversial Pardon to Convicted Nikola Founder Trevor Milton
Washington, D.C. — In one of his most contentious uses of executive clemency, former President Donald Trump has pardoned Trevor Milton, the disgraced founder of electric truck startup Nikola Corporation, who was convicted last year of defrauding investors out of hundreds of millions of dollars. The White House confirmed the pardon Friday, though it was not listed on the official presidential pardons website.
The Milton Case: Fraud, Political Connections, and a Pardon
Milton, 42, was sentenced in 2023 to four years in prison for securities and wire fraud after a high-profile trial revealed he had grossly misled investors about Nikola’s technology. Prosecutors presented evidence that:
- A staged video of a Nikola truck “driving” was actually a non-functioning prototype rolling downhill.
- Milton falsely claimed Nikola had developed revolutionary hydrogen-powered trucks, which were in fact rebranded General Motors vehicles.
- His exaggerations caused Nikola’s stock to surge before collapsing, wiping out billions in market value.
Despite the conviction, Milton had not yet begun serving his sentence, remaining free pending appeal. His pardon eliminates the possibility of prison time and could void over $100 million in court-ordered restitution to defrauded investors.
Political Ties and Suspicious Timing
Milton and his wife donated $1.8 million to a Trump re-election fund in October 2020, just weeks before the election. His legal team also included Marc Mukasey (a Trump Organization lawyer) and Brad Bondi (brother of former Trump-appointed Attorney General Pam Bondi).
When questioned about the pardon, Trump claimed Milton was prosecuted for supporting him, calling SDNY prosecutors a “vicious group of people.” He insisted Milton “did nothing wrong”—contrary to the jury’s verdict.
Broader Pardon Spree: From Capitol Rioters to Crypto Criminals
This is not Trump’s first controversial pardon. Since returning to office, he has:
- Cleared records of 1,500+ Jan. 6 rioters on his first day.
- Freed Ross Ulbricht, the Silk Road dark web drug market founder serving life.
- Pardoned BitMEX crypto founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who admitted to violating anti-money laundering laws.
Nikola’s Downfall and Lingering Fallout
Once a Wall Street darling, Nikola filed for Chapter 11 bankruptcy in February 2024. Prosecutors painted Milton as a serial liar who built his company on false promises. Former Nikola CEO testified Milton was “prone to exaggeration”—a polite understatement given the fraud.
The SEC previously fined Nikola $125 million in a civil settlement, though the company admitted no wrongdoing. The U.S. Attorney’s Office declined to comment on the pardon, but at sentencing, Damian Williams warned: “If you mislead investors, you will pay a stiff price.”
Except, it seems, if you have a presidential pardon.
Why This Matters
- Investor Trust Erosion: Pardoning a convicted fraudster undermines corporate accountability.
- Political Favoritism: The timing of Milton’s donations raises ethical concerns.
- Legal Precedent: Trump’s pardons increasingly benefit allies, rioters, and white-collar criminals.
The Big Question: Should a president have unchecked power to override fraud convictions—especially for donors?
1. Why was Nikola founder Trevor Milton convicted?
Milton was found guilty of fraud for lying to investors about Nikola’s technology, including faking a truck demo video and exaggerating capabilities, costing investors hundreds of millions.
2. Why did Trump pardon Milton?
Trump claimed Milton was unfairly prosecuted for supporting him, despite Milton’s $1.8M in campaign donations and legal ties to Trump allies. The pardon cancels Milton’s 4-year prison sentence.
3. What’s the controversy around this pardon?
Critics say it rewards a convicted fraudster, erodes corporate accountability, and highlights Trump’s pattern of pardoning wealthy allies and political supporters.