Nikola founder Trevor Milton receives full pardon from President Trump
March 28, 2025
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Nikola founder Trevor Milton said in a social media post that he’s received “a full and unconditional pardon” by President Trump, adding that the president called him personally to inform him.
“I just got a call from the president of the United States on my phone that he signed a full and unconditional pardon of innocence,” Milton said in an Instagram video message posted Thursday. “I am free.”
In December 2023, Milton was sentenced to four years in prison after he was convicted of exaggerating claims about his electric vehicle company’s production of zero-emission 18-wheel trucks, which prosecutors claimed caused investors to lose hundreds of thousands of dollars. Milton’s conviction came after a short seller called Hindenburg Research alleged in 2020 that the EV maker had misrepresented its technology.
In his video, Milton said, “The greatest comeback story in America is about to happen.”
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Nikola filed for Chapter 11 bankruptcy protection in February, a move that came months after it warned it could likely run out of cash in early 2025. Once valued at around $30 billion, exceeding the market capitalization of Ford Motor Co., the EV maker was a rising Wall Street star before it became embroiled in scandal.
Last month, Nikola said it plans to to continue limited service and support operations for vehicles on the road, including fueling operations through the end of March, subject to court approval. The company said that it would need to raise more funding to support those types of activities after that time.
In the video, Milton didn’t disclose whether he had plans for Nikola or his involvement in the EV industry.
“I get to be with my wife now, I get to be with my family,” Milton said. “It is done, it is over.”
Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
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