Trevor Milton founded Nikola to build hydrogen and electric trucks and became one of the most visible founders of the clean-vehicle boom. A widely shared 2018 video appeared to show a Nikola truck driving under its own power. In fact, it had been towed up a hill and filmed rolling down.
The outcome
Milton was convicted in 2022 of misleading investors about the company’s technology and was sentenced to four years in prison. In March 2025 he received a full presidential pardon. The pardon followed large political donations made by Milton and his wife in 2024, and it could wipe out restitution prosecutors had sought for investors. Nikola itself filed for bankruptcy in early 2025.
Lessons for founders
- Demos are claims. Any video, photo or live demonstration implies “this works.” Make sure it does, or say clearly what it shows.
- Promotional content is evidence. What goes into a launch video can end up in a courtroom.
- A pardon is not a reputation. Legal outcomes and public trust are separate, and only one of them can be granted.
The takeaway
In industries built on future technology, the temptation to show tomorrow’s product today is strong. The founders who keep their credibility are the ones who are precise about the difference.
Sources
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