UPDATE:
According to media reports, Trevor Milton and his wife donated $1.8 million to a pro-Trump PAC less than one month before the election. This has been confirmed by the Federal Election Commission. President Trump stated during a March 28 press conference that Milton's support played a role in his decision.
"They say the thing that he did wrong was he was one of the first people that supported a gentleman named Donald Trump for president," Trump said.
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In an unexpected move, President Trump has issued a full and unconditional pardon to Trevor Milton, founder of now-bankrupt hydrogen and battery-electric semi manufacturer Nikola Corporation.
[Related: Nikola Motors, once a Wall Street darling, files for bankruptcy]
Milton, 42, was sentenced to four years in prison and a $1 million fine in 2023 after a New York jury found him guilty of securities and wire fraud. He resigned as Nikola executive chairman in 2020 following allegations against him by short-seller Hindenburg Research, which immediately sparked an SEC investigation.
Milton founded Nikola back in 2014. In June 2020, under Milton's leadership, the company went public through a Special Purpose Acquisition Company (SPAC) merger, a process where a company goes public by merging with what's essentially a publicly traded shell company instead of the traditional Initial Public Offering (IPO) route.
Milton appealed the conviction and remained free on bail. He posted on X, formerly known as Twitter, that President Trump called him to personally tell him about the pardon.
"This pardon is not just about me — it's about every American who has been railroaded by the government, and unfortunately, that's a lot of people," said Milton. "It is no wonder why trust and confidence in the Justice Department has eroded to nothing. I wish judges would stop believing whatever the prosecutors feed them so Americans could trust the justice system again. Until that happens, our justice system will continue to erode until there is nothing left."
Trump's latest appeal follows through on his pledge to end what he views as political weaponization of the Justice Department.
"The 90+% conviction rate in New York is appalling and is a result of prosecutors getting whatever they want and putting innocent people in prison. I saw firsthand the tactics they use to achieve those guaranteed convictions. I am incredibly grateful to President Trump for his courage in standing up for what is right and for granting me this sacred pardon of innocence," Milton added.
The press release announcing Milton's pardon adds that "The striking similarities between Milton's case and those brought against President Trump highlight systemic issues within the justice system, particularly within the Southern District of New York."
Whether Milton attempts to revive what's left of Nikola or move on to something else remains anybody's guess. In the meantime, he's planning to launch a documentary titled "The Trevor Milton Saga: Conviction or Conspiracy." The trailer and other details can be viewed here.
