President Trump has granted a pardon to Trevor Milton, the former CEO of Nikola who was convicted of defrauding investors in the electric truck maker. Milton was sentenced to four years in prison and fined $1 million for securities and wire fraud. The pardon means he will not have to serve time in prison or compensate shareholders who lost money when Nikola’s stock price collapsed. Despite the conviction, Milton has maintained his innocence and claimed he was only overly enthusiastic about his company’s prospects.
Prosecutors accused Milton of inflating the value of Nikola by making false claims about its technology and orders. Nikola filed for bankruptcy in February and plans to sell its assets. The pardon comes as a surprise to many, as Milton’s conviction was seen as a victory for investors who lost money due to his actions.
This news has raised questions about the power of presidential pardons and the implications for white-collar crime. Critics argue that pardoning someone convicted of defrauding investors undermines the justice system and sends the wrong message about accountability. The story is still developing, and further updates are expected.
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