Nikola founder Trevor Milton, who was convicted of fraud for lying in an effort to pump up the value of the zero-emission truck company, has been pardoned by President Donald Trump.

Milton announced the pardon in a news release on March 27. As of the afternoon of March 28, news of the pardon did not appear on the White House or Justice Department websites, but the White House confirmed the pardon to outlets such as the Associated Press and the New York Times.

As we reported in 2022, during his trial, prosecutors called Milton “a con man,” who “lied to investors to get their money, but Milton’s defense lawyer compared him to an overenthusiastic parent who brags about his child.

Last December, Milton was sentenced to four years in prison. However, he had not been incarcerated pending an appeal.

The AP pointed out that Milton 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.

As the New York Times reported, not only does the pardon mean Milton will avoid time in prison — it also means he won't have to comply with a court order to pay back Nikola shareholders who lost millions of dollars following the collapse of Nikola share prices. He could still face civil lawsuits.

According to MarketWatch, Matthew Podolsky, the acting U.S. attorney for the Southern District of New York, submitted a filing earlier this month asking the court to order Milton to pay $661 million in restitution to retail investors.

Nikola filed for bankruptcy earlier this year. Some observers believe the company, which made battery-electric and hydrogen-fuel-cell Class 8 trucks, will be resurrected in some form or another. 

According to Milton’s announcement, the pardon is part of the president’s pledge to end what he alleges is the “political weaponization of the Justice Department.”

Milton was prosecuted by the Southern District of New York, which Trump also tangled with. 

The news release also says that Milton is set to launch a documentary available for preview at www.trevormilton.com.

Updated 2 pm EDT to add White House confirmation of the pardon