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(Reuters) -Trevor Milton, the founder of bankrupt electric and hydrogen-powered truck maker Nikola (OTC:NKLAQ) who was convicted of fraud, has been pardoned by U.S. President Donald Trump, Milton said in a social media post on Thursday.
Milton was sentenced to four years in prison in 2023 after a jury found him guilty of lying to investors about the company’s technology.
"Today I was issued a full and unconditional pardon by Donald Trump himself. He called me personally to tell me," Milton said in an Instagram post.
A White House official has confirmed the pardon. Nikola did not immediately respond to requests for comment.
According to federal prosecutors, Milton misled investors by stating that Nikola had built a pickup from the "ground up," that it had developed its own batteries even though he knew it was buying them, and that it had early success creating a "Nikola One" semi-truck that he knew did not work.
Milton was convicted in October 2022 on one count of securities fraud and two counts of wire fraud, and acquitted on an additional securities fraud count.
The company last month filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets.