On Friday, the White House confirmed that Tarvor Milton, founder of the Nicolas Electric Cars Company, which was sentenced to last year, has recovered by President Donald Trump.
Pardon Milton, who was sentenced to four years in prison due to the exaggeration of his technology, can erase hundreds of millions of dollars as compensation that the plaintiffs were looking for fraudulent investors.
Milton and his wife donated more than $ 1.8 million to the Trump re -election campaign fund less than a month before the November elections, according to the Federal Elections Committee.
In Milton’s trial, prosecutors say a video of a model truck that appears to have been driven on a desert highway is actually a non -functional video clip that was wrapped under the hill.
Milton was not imprisoned waiting for an appeal.
Milton late Thursday on social media said he was pardoned by Trump.
“I am incredibly grateful to President Trump for his courage to stand up to what is right and gave me this holy pardon of innocence,” Milton said.
The White House confirmed the pardon on Friday, although there was no notice of amnesty on the White House site.
Trump has lost little time using his pardon since he started his second term. Hours after he took office, he wiped about 1500 people who participated on January 6, 2021, of riots in the Capitol in the United States. The next day, Trump announced he hadRoss Olbrech pardonFounder of Silk Road, Underground website.
Olbricht wasHe was sentenced to life imprisonmentIn 2015, after high -level prosecution, the most prominent role of the Internet in illegal markets.
Nicola, who was a hot star and a rising star in Wall Street before she becameIn a scandalIt was presented for Chapter 11, bankruptcy protection in February.
Milton, who was convicted of fraud, was filmed by the prosecutors as a man who was deceived six years after the establishment of the company in a cellar in Utah.
Prosecutors said that Milton had falsely claimed that he built his revolutionary truck that was actually a General Motors The product with the Nicolas logo is sealed on it.
It is called a government witness,Nicola CEO witnessedMilton was “vulnerable to exaggeration” when his project is set for investors.
Milton resigned in 2020 amid reports of fraud that sent Nicolas shares to a tail. Investors have suffered heavy losses, as reports questioned Milton’s claims that the company had already produced trucks of 18 zero emission.
The company paid $ 125 million in 2021SettlingA civil issue against it by the Supreme Education Council. Nicolas did not recognize any violations.
An audio mail left with the Office of the Prosecutor of the American Region of the Southern Region in New York, which ruled the case, immediately.
At the time of his conviction, US lawyer Damian Williams said, “Trevor Milton has lied to investors over and over again-on social media, on television, on podcasts, and in printing. But the sentence today must be a warning to startups and executives everywhere-fake to make it not excuse, and if you have made a mistake in investing, you will pay the price. Cast. “
This story was originally shown on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/03/GettyImages-1243164200.jpg?resize=1200,600
Source link