Trump forgives Trevor Milton, founder of the bankrupt truck manufacturer Nikola

Trevor Milton, an important republican donor who was sentenced by a federal jury in 2022 investor fraud in the manufacturer of electric truck Nikola, received a forgiveness from President Trump, the White House announced on Friday.

Mr. Milton, the founder and former managing director of Nikola, was sentenced to four years in prison and sentenced to a fine of $ 1 million after a New York jury condemned him for a transferred manager and two leaders of wire. He was released on bail when he appealed the conviction.

In addition to saving Mr. Milton in prison, forgiveness means that he will not be required to comply with a court order to compensate the shareholders in Nikola, who lost tens of millions of dollars after the collapse of the course of Nikola’s action. He is always faced with an in progress prosecution filed by the shareholders.

Mr. Milton was accused of having increased the value of Nikola’s shares by making extravagant complaints on the company, including it had work prototypes of long-haul trucks without emissions, had billions of dollars of binding orders and produced low-cost fuel. These statements were false, the prosecutors argued during the trial.

Mr. Milton argued that he had done nothing wrong, and his lawyers argued that he was completely exaggerated on the prospects of his business.

Nikola operated under a new direction after Mr. Milton resigned in 2020 following a report by the Hindenburg Research investment fund which accused him of making many false claims. Among other things, Mr. Milton was accused of having produced a video in which a truck was shown on a hill, creating the impression that the company had developed a work prototype.