Pardon for Nikola Founder
Trevor Milton, the founder of the electric truck company Nikola, has been granted a full and unconditional pardon by President Donald Trump. This comes after Milton was found guilty by a jury of one count of securities fraud and two counts of wire fraud in October 2022, and subsequently sentenced to four years in prison in 2023.

Milton announced the pardon in a press release, which was also confirmed by the White House to CNBC. The pardon was issued just two weeks after prosecutors requested that a judge order Milton to pay $680 million in restitution to Nikola shareholders, as well as $15.2 million to a wire fraud victim. However, due to the pardon, the judge is now unable to order any restitution.

Background of the Case
Prosecutors had argued that Milton artificially inflated his company’s stock price by lying to investors about nearly all aspects of Nikola’s business, including claims of having a fully functional electric truck. In 2018, Nikola released a video that appeared to show a Nikola One prototype moving by itself, but prosecutors claimed that the truck was actually rolling down a hill and that Milton had been involved in the video’s creation. Following a damning report by short-selling firm Hindenburg Research, which prompted an SEC investigation, the company stated that it had never claimed the truck was driving under its own propulsion in the video.

Milton now plans to release a documentary to tell his side of the story. It is worth noting that Milton has donated millions of dollars to Trump and his associates in political donations, according to reports. Filings show that he donated $750,000 to MAHA Alliance, a political action committee, and $920,000 to the Trump 47 Committee, just ahead of the election.

Trump’s Pardon Record
Trump has pardoned hundreds of people in the first couple of months of his second term, including around 1,500 individuals who were convicted or charged with crimes related to the insurrection at the US Capitol on January 6, 2021. On his second day in office, Trump pardoned Silk Road founder Ross Ulbricht, who was sentenced to life in prison after being charged with money laundering, narcotics trafficking, and computer hacking.

Other Pardon Efforts
Meanwhile, the family and associates of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, are reportedly campaigning for Trump to pardon him. Bankman-Fried was sentenced in 2024 to a 25-year prison sentence after being found guilty of seven fraud and conspiracy charges.