Trevor Milton, founder and former CEO of Nikola, was pardoned by President Trump after being convicted in 2022 of fraudulently misrepresenting the company to investors. He faced a federal jury on charges of securities fraud and wire fraud, resulting in a four-year prison sentence and a $1 million fine. The pardon not only eliminates his prison time but also absolves him from compensating shareholders affected by Nikola's stock collapse. Despite the pardon, legal challenges remain with potential civil lawsuits still on the horizon as Nikola filed for bankruptcy earlier this year.
Trevor Milton, convicted in 2022 of defrauding investors in Nikola, has received a pardon from President Trump, sparing him prison time and financial restitution obligations.
Milton's conviction stemmed from allegations he falsely inflated Nikola's stock value, claiming the company had operational prototypes and large binding orders that did not exist.
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