Latest news with #Trump47Committee
Yahoo
28-03-2025
- Business
- Yahoo
Trump Pardons Musk Rival Represented by AG Pam Bondi's Brother
President Donald Trump has continued his clemency marathon by granting a pardon to Nikola founder Trevor Milton, who donated $1.8 million to political action committees supporting the president's White House bid last year. Milton, who founded the electric and hydrogen-powered truck startup in 2015, faced charges of defrauding investors. But after a personal phone call with Trump, Milton and his lawyer—Attorney General Pam Bondi's brother, Brad Bondi—were in celebration mode. 'I was issued a full and unconditional pardon by @realDonaldTrump himself. He called me personally to tell me,' Milton wrote on X on Thursday. 'This pardon is not just about me — it's about every American who has been railroaded by the government," he added. 'It is no wonder why trust and confidence in the Justice Department has eroded to nothing.' Campaign finance records show that the former billionaire and his wife donated $920,000 to the Trump 47 Committee in October 2024 and $750,000 to the Make America Healthy Again Alliance, which is affiliated with Robert F. Kennedy Jr., in September. He also donated millions to nearly 100 state Republican parties, individual candidates, and campaigns, according to Morning Star. The White House confirmed the pardon. An unnamed source told the Financial Times that Pam Bondi was not involved in the decision. A federal jury in Manhattan convicted 42-year-old Milton, who resigned from Nikola in 2020, on one count of securities fraud and two counts of wire fraud in 2022. District Court Judge Edgardo Ramos sentenced him to four years in prison in 2023. Ramos further ordered Milton to pay restitution of $680 million to Nikola shareholders and $15.2 million to Peter Hicks, a victim of the wire fraud. Milton remained out on bond while he appealed his conviction. Because of the pardon, Milton will not go to prison or dole out any money for his crimes. Prosecutors said Milton had made false and misleading statements to retail investors to drive demand. One piece of evidence prosecutors presented was a video that showed a non-functioning truck prototype rolling downhill, which was made to look like a functioning vehicle. Milton maintained his innocence throughout and said prosecutors built their case on cherry-picked statements. 'Trevor Milton lied to investors again and again — on social media, on television, on podcasts, and in print," U.S. Attorney Damian Williams said after Milton was sentenced. '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.' 'I saw firsthand the tactics they use to guarantee convictions,' Milton said on X. '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.' Before his multi-million backing of Trump's White House bid, Milton had given less than $20,000 to congressional and presidential candidates, the Financial Times reported. Milton's pardon comes on the heels of another controversial Trump pardon. Earlier this week, Trump pardoned Devon Archer, a one-time business associate of Hunter Biden. In 2018, Archer was convicted as part of a scheme to defraud a community of the Oglala Sioux Tribe in South Dakota. He was sentenced in 2022 to a year in prison, and the Supreme Court rejected an appeal from him in the case last year. In 2023, Archer told the House Oversight Committee that Hunter Biden used his dad's 'brand' to sell the 'illusion of access' to his politician father. Before the pardon, Trump claimed Archer 'was screwed by the Bidens.' Trump also pardoned Silk Road founder Ross Ulbricht in January. Nikola, once worth more than Ford, filed for bankruptcy last month after it was unable to secure a buyer. The company, which at its peak in 2020 was worth more than $30 billion and considered a major rival to Elon Musk's Tesla, said waning demand, high expenses, and a loss of investors were the main reasons it filed for bankruptcy.
Yahoo
28-03-2025
- Business
- Yahoo
Trump Pardons One of the Car Industry's Biggest Scammers—Just in Time
President Trump on Thursday pardoned Trevor Milton, the founder of the bankrupt electric truck company Nikola who was sentenced to four years in prison for securities and wire fraud charges in 2023—right before he had to pay millions in restitution. Milton famously exaggerated the green tech of his hydrogen trucking start-up, defrauding investors. 'Oh my gosh, oh, you won't believe just what happened,' Milton said in a video he posted on Instagram. 'I just got a call from the president of the United States, on my phone, and he signed my full and unconditional pardon of innocence. I am free,' he said. 'The prosecutors can no longer hurt me,' he said. 'They can't destroy my family, they can't rip everything away from me, they can't ruin my life.' When Milton was first indicted in 2021, the Manhattan U.S. Attorney's Office noted that his investors 'suffered tens and even hundreds of thousands of dollars in losses, including, in certain cases, the loss of their retirement savings or funds that they had borrowed to invest in Nikola.' This pardon conveniently nullifies the $680 million Milton owed to Nikola shareholders and the $15.2 million to Peter Hicks, one of his wire fraud victims. Milton emphasized what he saw as 'striking similarities' between his case and the four criminal cases against President Donald Trump, who also maintains his victimhood. Milton has been an ardent supporter of Trump and donated $920,000 to the Trump 47 Committee and $750,000 in September to Robert F. Kennedy Jr.'s MAHA Alliance political action committee after his sentencing.
