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Nikola founder Trevor MiltonCNBC
•US Politics
US Politics
79% Informative
Nikola Corp. founder Trevor Milton says President Donald Trump has pardoned him.
Milton was convicted in October 2022 of crimes related to defrauding investors with misrepresentations about the success of the electric and hydrogen-powered truck maker.
Nikola filed for Chapter 11 bankruptcy protection in February .
Milton , 42 , was sentenced in December 2023 to four years in prison, but has been free pending appeal of conviction.
Nikola filed for Chapter 11 bankruptcy protection in February .
Nikola makes primarily all-electric and fuel cell electric semi-trucks.
The company had only sold 600 vehicles since 2022 , as of its most recent third quarter .
The collapse of Nikola comes just five years after it hit a $30 billion market capitalization.
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