Nikola founder Trevor Milton receives full pardon from President Trump

Nikola founder Trevor Milton mentioned in a social media publish that he is obtained “a full and unconditional pardon” by President Trump, including that the president known as him personally to tell him. 

“I simply bought a name from the president of the US on my telephone that he signed a full and unconditional pardon of innocence,” Milton mentioned in an Instagram video message posted Thursday. “I’m free.”

In December 2023, Milton was sentenced to 4 years in jail after he was convicted of exaggerating claims about his electrical car firm’s manufacturing of zero-emission 18-wheel vans, which prosecutors claimed precipitated buyers to lose a whole lot of hundreds of {dollars}. Milton’s conviction got here after a brief vendor known as Hindenburg Analysis alleged in 2020 that the EV maker had misrepresented its know-how. 

In his video, Milton mentioned, “The best comeback story in America is about to occur.”

Nikola filed for Chapter 11 chapter safety in February, a transfer that got here months after it warned it may possible run out of money in early 2025. As soon as valued at round $30 billion, exceeding the market capitalization of Ford Motor Co., the EV maker was a rising Wall Avenue star earlier than it grew to become embroiled in scandal.

Final month, Nikola mentioned it plans to to proceed restricted service and assist operations for automobiles on the highway, together with fueling operations by means of the tip of March, topic to courtroom approval. The corporate mentioned that it could want to boost extra funding to assist these forms of actions after that point.

Within the video, Milton did not disclose whether or not he had plans for Nikola or his involvement within the EV trade. 

“I get to be with my spouse now, I get to be with my household,” Milton mentioned. “It’s performed, it’s over.”