Trevor Milton, the founder of electric truck company Nikola, has received a full and unconditional pardon from President Donald Trump. A jury found Milton guilty of one count of securities fraud and two counts of wire fraud in October 2022. In 2023, he was sentenced to four years in prison.<br /> Milton announced the pardon in a press release and the White House confirmed it to CNBC. It came two weeks after prosecutors asked a judge to order Milton to pay $680 million in restitution to Nikola shareholders as well as $15.2 million to a wire fraud victim. However, due to the pardon, the judge is unable to order any restitution.<br /> Prosecutors argued that Milton pumped up his company's stock by lying to investors about "nearly all aspects" of Nikola's busine [...]
Lucid Motors has announced that it's acquiring certain facilities in Arizona owned by Nikola, an EV truck maker that filed for Chapter 11 bankruptcy protection back in February. It will also offe [...]
With US stocks unstable, consumer confidence in the economy plunging and whispers of a potential recession growing less muted, the economy under President Donald Trump's second term has been abou [...]