SEC Drops Fraud Case Against Nikola Founder Trevor Milton After Presidential Pardon
2025-09-19
The US Securities and Exchange Commission (SEC) has dropped its fraud case against Nikola founder and former CEO Trevor Milton following a presidential pardon from Donald Trump. Milton, previously convicted of securities fraud and sentenced to four years in prison, had his conviction overturned by the pardon. He claims he was subjected to five years of false accusations from the media, prosecutors, former Nikola executives, and short sellers. Despite the pardon, Milton is seeking $69 million in legal fees from Nikola, which is currently in bankruptcy, a demand the company rejects.