Trevor Milton, the founder of electric vehicle start-up Nikola who was sentenced to prison last year for fraud, was pardoned by President Donald Trump, the White House confirmed Friday.
The pardon of Milton, who was sentenced to four years in prison for exaggerating the potential of his technology, could wipe out hundreds of millions of dollars in restitution that prosecutors were seeking for defrauded investors.
Milton, 42, and his wife donated more than $1.8 million to a Trump re-election campaign fund less than a month before the November election, according to the Federal Election Commission.
At Milton's trial, prosecutors say a company video of a prototype truck appearing to be driven down a desert highway was actually a video of a nonfunctioning Nikola that had been rolled down a hill.
Milton had not been incarcerated pending an appeal.
Milton said late Thursday on social media that he had been pardoned by Trump.
"I am incredibly grateful to President Trump for his courage in standing up for what is right and for granting me this sacred pardon of innocence,” Milton said.
The White House confirmed the pardon Friday, though there was no notice of a pardon on the White House website.
When asked by a reporter in a news conference Friday why he pardoned Milton, Trump said it was “highly recommended by many people.” Trump suggested that Milton was prosecuted because he supported the president.
“They say the the thing that he did wrong was he was one of the first people that supported a gentleman named Donald Trump for president,” Trump said.
Trump went on to say that Milton “did nothing wrong” and that the Southern District of New York's prosecutors were “a vicious group of people.”
During his securities fraud case, Milton was defended by two lawyers with connections to Trump: Marc Mukasey, who has represented the Trump Organization; and Brad Bondi, the brother of Pam Bondi, who Trump appointed as U.S. Attorney General.
Also Friday, Trump commuted the sentence of Ozy Media co-founder Carlos Watson, just before he was due to report to prison for a nearly 10-year sentence in a financial conspiracy case.
Trump has wasted little time in using his pardon power since beginning his second term. Hours after taking office, he wiped clean the records of roughly 1,500 people who participated in the Jan. 6, 2021, riot at the U.S. Capitol. The next day, Trump announced that he had pardoned Ross Ulbricht, the founder of Silk Road, an underground website for selling drugs.
Ulbricht had been sentenced to life in prison in 2015 after a high-profile prosecution that highlighted the role of the internet in illegal markets.
Nikola, which was a hot start-up and rising star on Wall Street before becoming enmeshed in scandal, filed for Chapter 11 bankruptcy protection in February.
Milton, convicted of fraud, was portrayed by prosecutors as a con man six years after he had founded the company in a basement in Utah.
Prosecutors said Milton falsely claimed to have built its own revolutionary truck that was actually a General Motors product with Nikola’s logo stamped onto it.
Called as a government witness, Nikola’s CEO testified that Milton “was prone to exaggeration” when pitching his venture to investors.
Milton resigned in 2020 amid reports of fraud that sent Nikola’s stock prices into a tailspin. Investors suffered heavy losses as reports questioned Milton’s claims that the company had already produced zero-emission 18-wheel trucks.
The company paid $125 million in 2021 to settle a civil case against it by the SEC. Nikola didn’t admit any wrongdoing.
The U.S. District Attorney’s Office for the Southern District of New York, which prosecuted the case, declined to comment on Milton’s pardon.
At the time of his conviction U.S. Attorney Damian Williams said, “Trevor Milton lied to investors again and again — on social media, on television, on podcasts, and in print. But today’s sentence should be a warning to start-up founders and corporate executives everywhere — ‘fake it till you make it’ is not an excuse for fraud, and if you mislead your investors, you will pay a stiff price.”
The White House said Trump also pardoned on Thursday cryptocurrency entrepreneurs Arthur Hayes, Benjamin Delo, and Samuel Reed. The three men founded and help run the cryptocurrency exchange BITMEX, which was ordered to pay a $100 million fine earlier this year after prosecutors said it “willfully flouted U.S. anti-money laundering laws to boost revenue.” Hayes, Delo and Reed pleaded guilty in 2022 to violating the Bank Secrecy Act and were sentenced to probation.
Associated Press writers Darlene Superville and Alan Suderman contributed.
FILE - Trevor Milton, left, leaves the Thurgood Marshall United States Courthouse on Monday, Sept. 12, 2022, in New York. (AP Photo/Brittainy Newman, File)
BIRMINGHAM, Ala. (AP) — Rori Harmon put her hands on her knees and bowed her head as the clock wound down. The Texas senior guard doesn't like crying, but she gave herself a moment to reflect on the past 10 months.
This time last year, Harmon was sidelined by a knee injury. She could only watch as the Longhorns were eliminated in the Elite Eight of the women's NCAA Tournament.
It came full circle Monday night. Madison Booker scored 18 points, Harmon added 13 and No. 1 seed Texas used its stifling defense to reach the Final Four for the first time since 2003, beating well-traveled point guard Hailey Van Lith and second-seeded TCU 58-47.
“Just to see us get to the Final Four after recovering and coming back from my ACL injury in 10 months,” Harmon said, “I thought it was an amazing thing, and I was just really proud of myself in that moment.”
The Longhorns (35-3) will face defending champion South Carolina on Friday night in Tampa, Florida, for a spot in the national title game.
Texas won a regional final for the first time in four tries under coach Vic Schaefer, who previously made two Final Four trips with Mississippi State. The Longhorns' 35 wins are one more than its only national title-winning squad had in 1986 under Jody Conradt, who was in the stands Monday night and led Texas to its three previous Final Fours.
Van Lith scored 17 points for TCU (34-4) in her collegiate finale, but Texas neutralized the Horned Frogs' star center, Sedona Prince, who had four points and nine rebounds before fouling out with 6:32 left.
Harmon guarded Van Lith most of the night.
“That to me is vintage Rori,” Schaefer said. “She embraces the defensive challenge. She loves it. She eats it for breakfast.”
TCU had never made it past the second round of March Madness, but Van Lith helped the Horned Frogs make program history while taking her third school to the Elite Eight.
Booker, Texas' offensive dynamo, scored 14 points in the second half. Harmon had 11 in the first half.
Nothing came easy for the Horned Frogs' high-scoring trio of Van Lith, Prince and Madison Conner. Van Lith shot 3 of 15 from the field but made 10 of 11 free throws. The 6-foot-7 Prince attempted only four shots, and Conner scored nine points.
Prince, whose career started with Texas in 2018, said the Longhorns' post players did a good job scouting her. But she also felt that Texas was in her head. She never played for the Longhorns, leaving the program for Oregon in 2019 after breaking her leg playing for USA Basketball.
“I thought that we had to win to prove it to them that they couldn’t beat me,” Prince said. “But being part of this program, being here and succeeding ... it doesn’t matter.”
The Longhorns forced 21 turnovers and had nine steals and six blocks, but they didn't pull away until center Kyla Oldacre intercepted Van Lith’s pass and went coast-to-coast early in the fourth quarter.
The 6-foot-6 Oldacre was fouled by Prince and made the free throw, energizing the Longhorns and the announced crowd of 12,175 that made the trip to Alabama. The three-point play put Texas ahead by double digits for the first time.
After falling behind by 14, TCU pulled within six with 2:42 remaining on four straight points from forward Deasia Merrill. Consecutive jumpers from Booker and Harmon put the Longhorns back up by 10, and the Horned Frogs never got any closer.
Harmon had two steals in the first seven minutes as the Longhorns held the Horned Frogs to just nine points in the opening quarter. The Longhorns went up by nine before TCU closed the second quarter on a 7-0 run that made it 23-21 at the half.
Oldacre scored nine points, all in the second half, to help Texas outscore TCU 35-26 after the break.
This was the 57th meeting of the former Big 12 foes and first in the NCAA Tournament. Texas moved to the Southeastern Conference this season, went 15-1 against the SEC in the regular season, captured the regular-season title and had the SEC player of the year in Booker.
The Longhorns stuck with what’s worked for them all season. They don’t attempt many 3-pointers, and they wear teams out with the frontcourt rotation of Oldacre and 6-4 Taylor Jones.
Jones had seven points and six rebounds for Texas, which outscored TCU 24-8 in the paint.
Texas’ win put three No. 1 seeds in the Final Four, along with South Carolina and top overall seed UCLA. The Gamecocks edged second-seeded Duke on Sunday to move two wins away from repeating as champs. The Bruins dispatched Flaujae Johnson and No. 3 seed LSU behind 17 points from standout center Lauren Betts.
The top seeds will be joined by Paige Bueckers and No. 2 seed UConn, who beat No. 1 seed Southern California in Monday night's other semifinal.
AP March Madness bracket: https://apnews.com/hub/ncaa-womens-bracket and coverage: https://apnews.com/hub/march-madness. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here.
Texas head coach Vic Schaefer and players celebrate with the trophy after they defeated TCU in the Elite Eight of the NCAA college basketball tournament, Monday, March 31, 2025, in Birmingham, Ala. (AP Photo/Butch Dill)
Texas head coach Vic Schaefer and players celebrate with the trophy after they defeated TCU in the Elite Eight of the NCAA college basketball tournament, Monday, March 31, 2025, in Birmingham, Ala. (AP Photo/Butch Dill)
