In a surprising turn of events, U.S. President Donald Trump has granted a full and unconditional pardon to Trevor Milton, the founder of Nikola Corp., who was convicted of fraud in 2022 for misleading investors about his company’s electric- and hydrogen-powered trucks. The pardon, issued on March 27, 2025, effectively nullifies Milton's four-year prison sentence and a $1 million fine, as well as the potential restitution of $695.2 million that was being considered by a Manhattan court.
Milton, 42, announced the pardon in a video posted on his personal Instagram account, stating, "I just got a call from the president of the United States," and expressed his gratitude towards Trump for the decision. The White House confirmed the pardon shortly thereafter, marking a significant moment in Milton's tumultuous legal saga.
Milton was initially indicted in July 2021, with prosecutors alleging that he made false statements between November 2019 and September 2020 to encourage investment in Nikola. These included claims about the development of a fully operational semi-truck prototype and a proprietary hydrogen-powered pickup. Notably, a promotional video showing a Nikola truck appeared to demonstrate its capabilities, but it was later revealed that the truck was merely rolling down a hill rather than driving under its own power.
After being convicted of securities fraud and wire fraud in October 2022, Milton was sentenced in December 2023. He faced a total of four years in prison, along with a $1 million fine and three years of supervised release. In late 2023, a judge confirmed an arbitration ruling requiring Milton to pay $167.7 million in damages related to his misrepresentations. However, the recent pardon has rendered these financial penalties moot.
In February 2025, Nikola filed for Chapter 11 bankruptcy, reporting liabilities of up to $10 billion and warning that it could not fund operations beyond the first quarter of 2025. The company, which had delivered only 600 vehicles since 2022, cited its financial struggles and multiple product recalls as contributing factors to its downfall.
The pardon has raised eyebrows, especially given the substantial contributions Milton and his wife made to Trump's political campaign—over $1.8 million in total. During a press conference, Trump acknowledged that he was influenced to grant the pardon by several people who had recommended it, stating, "I don’t know him, but they say it was very unfair." He further suggested that Milton's prosecution was part of a broader pattern of unfair treatment against Trump supporters.
Milton's case has drawn comparisons to Trump's own legal challenges, with both men positioning themselves as victims of a biased justice system. Milton's press release following the pardon argued that his case mirrored Trump's, highlighting systemic issues within the Southern District of New York, where both faced legal scrutiny.
Despite the controversy surrounding the pardon, it has not yet been officially cataloged on the Justice Department's pardon website, leading to speculation about potential disorganization within the administration. However, major news outlets, including the New York Times and the Associated Press, have confirmed the pardon through White House sources.
The fallout from Milton's actions has been severe, with investors suffering significant losses as Nikola's stock plummeted in the wake of the fraud allegations. The company had previously settled a civil case with the SEC for $125 million in 2021, without admitting any wrongdoing. As Nikola seeks to restructure under bankruptcy protection, the implications of Milton's pardon could further complicate the recovery process for defrauded investors.
As the situation continues to evolve, many are left questioning the integrity of the justice system and the potential ramifications of political influence on legal outcomes. Milton's case serves as a stark reminder of the complexities at the intersection of business, politics, and the law, raising important discussions about accountability and fairness.
In the wake of the pardon, Milton expressed relief, stating, "I am free. The prosecutors can no longer hurt me. They can't destroy my family. They can't rip everything away from me. They can't ruin my life." With the pardon now in place, it remains to be seen how this decision will impact the ongoing narrative surrounding Nikola Corp. and its future.
As the public grapples with the implications of this high-profile pardon, it highlights the growing trend of political figures using their power to influence legal matters. The case of Trevor Milton is not just about one individual's legal battles, but rather a reflection of the broader issues facing the justice system and the potential for corruption within it.
With the pardon now confirmed, observers will be watching closely to see how this decision affects the landscape of corporate accountability and investor protection moving forward. The intersection of politics and business continues to raise critical questions about the lengths to which individuals will go to protect their interests, and the ethical considerations that must be addressed in the process.
