Nikola founder says nearly $2 million in political donations he and his wife gave to President Donald Trump had nothing to do with his pardon
Trevor Milton says he was a political victim of the Biden administration and never should have been prosecuted for securities and wire fraud
PHOENIX — Trevor Milton, the founder of now-defunct Nikola, says in an exclusive interview with 12News that the president rescued him from political persecution, and his family's nearly $2 million contribution to the Trump campaign last fall had nothing to do with his pardon.
Last week, President Donald Trump pardoned the Ahwatukee resident convicted of lying to shareholders about the electric truck maker's progress. He was facing four years in prison as he appealed his sentence.
Milton said donations he and his wife made to the Trump campaign in October played no role in the pardon.
"I wouldn't even know how to do that," he said. "It would be illegal to do that."
Milton also said that Trump-appointed Attorney General Pamela Bondi, the sister of one of his attorneys, also had no role in the pardon.
Milton on Monday repeatedly said he was a political victim under the Biden administration, adding the pardon says, "Trevor is innocent."
"The government was wrong," he said. "They were wrong to do it, and it should have never happened."
Milton founded the electric vehicle startup in 2015, and it was eventually headquartered in Phoenix.
Former Gov. Doug Ducey often promoted the company's plans to manufacture electric vehicles and hydrogen fuel cell trucks.
In October 2022, a New York jury convicted Milton on federal charges of securities fraud and wire fraud.
Prosecutors in the US Attorney’s Office in the Southern District of New York had accused Milton of making false and misleading statements about “nearly all aspects of the business” as it pertained to developing electric and hydrogen-powered trucks, as well as defrauding the public through social media and podcast interviews.
He was sentenced in 2023 to four years in prison. He had been free on bail as he appealed the conviction.
Prosecutors claimed some investors lost their life savings, but the pardon could free Milton from paying hundreds of millions of dollars in restitution.
Milton said the losses break his heart.
"It’s awful," he said. "Imagine working your whole life or something, having it ripped away. That’s the worst thing ever. But the problem is, the prosecutors were lying, and you can’t just take them at face value….It’s the stock market. I can’t tell you how many stocks I’ve lost money on. It’s part of a risk, and it’s a gamble. It’s a legal way to gamble in America, and people love it."
Milton, who confirmed he sold more than $300 million in company shares in 2021, said he would not repay any of the investors.
But he would be open to helping those people in future ventures.
"So, I’m not heartless," he said. "As a matter of fact, I feel for these people probably more than most.”
Milton added that a documentary set to air this spring on YouTube will also clear his name. And, he may make a bid for assets of the company, which filed for bankruptcy protection in February.