Trevor Milton

Trevor Milton (born April 6, 1982) is an American entrepreneur and the founder and former executive chairman of Nikola Corporation, a hydrogen- and battery-electric vehicle company. In October 2022 a federal jury convicted him on one count of securities fraud and two counts of wire fraud for misleading investors about Nikola’s technology and business prospects. On December 18, 2023, a federal judge sentenced him to four years in prison and fined him US$1 million. On March 28, 2025, he received a full and unconditional presidential pardon from Donald Trump.

Early life and career

Trevor Robert Milton was born in Layton, Utah, to William L. Milton and Sallie Gwyn Hunt Milton. He served a mission for his church in Brazil and later left college to pursue business ventures. Milton founded several companies, including dHybrid Systems and a natural-gas truck business under Worthington Industries, before establishing Nikola in 2014. Under his leadership, Nikola went public in 2020 via a special purpose acquisition company (SPAC) and at its peak reached a valuation of more than US$30 billion. Milton became widely known for bold promotional claims, including that Nikola had built an electric-and-hydrogen powered pickup “from the ground up” and a semi-truck prototype called the “Nikola One,” though prosecutors later found many of these claims false or misleading.

Federal offense and prosecution

Beginning around November 2019 and continuing through September 2020, Milton repeatedly made false and misleading statements to the investing public about Nikola’s product development, technology and hydrogen-fuel infrastructure. He claimed that Nikola had a fully functioning prototype when the company lacked key components, and he stated that reservations for trucks represented binding orders worth billions when they were actually cancellable. In October 2022 a federal jury convicted him on one count of securities fraud and two counts of wire fraud. At sentencing on December 18, 2023, Judge Edgardo Ramos imposed a four-year prison term, three years of supervised release and a US$1 million fine; he also directed that restitution be determined in a later proceeding.

Incarceration and prison experience

Following his sentencing, Milton remained free on bond while appealing the conviction. His custodial term was expected to begin after the appeal process. Meanwhile, an arbitration decision later ordered him to pay approximately US$168 million to Nikola for misleading statements and losses to the company.

Life after release

On March 28, 2025, President Donald Trump granted Milton a full and unconditional pardon. The pardon eliminated his federal prison requirement and relieved him of further federal enforcement of restitution tied to his conviction. After receiving the pardon, Milton assumed the role of CEO at SyberJet Aircraft, a Utah-based private-jet manufacturer, and began announcing new media and business ventures despite outstanding civil claims and investor lawsuits.

Notable associates and related cases

• Hindenburg Research – short-seller whose September 2020 report triggered scrutiny of Nikola’s claims and led to Milton’s resignation.
• SyberJet Aircraft – the company Milton led post-pardon.
• Nikola Corporation – the company Milton founded, which later filed for Chapter 11 bankruptcy.