Convicted Fraudster Trevor Milton Rides His Trump Pardon To Another CEO Job, Somehow
from the failing-upward dept
While we chronicled the fall of Nikola, a company that promised over-the-road trucks built with hydrogen propulsion systems, it’s useful to note that it was literally only this past February that the company declared bankruptcy. What came before that was the company’s previous CEO, Trevor Milton. Milton made wild promises to investors in order to get more funding, including showing them video of its prototype truck zooming down a highway under its proprietary propulsion system. The only problem is that it was doing no such thing. Instead, it had been towed to the top of a hilly road and then it coasted down that road, with the footage being taken at a tilted camera angle to make it look like it was actually being driven when it wasn’t. Yes, it really was as cartoonish as that.
From there, the company suddenly lost a bunch of contracts, copyright was invoked in a failed attempt to silence criticism of its actions, and Milton was eventually convicted of fraud and sentenced to 4 years in jail. And then Donald Trump pardoned him, because of course he did. I’m sure it had nothing to do with the millions of dollars Milton donated to the Trump campaign and other Republican candidates, nor anything to do with Milton being represented by Brad Bondi, brother of current U.S. Attorney General Pam Bondi.
Milton never did a day in prison and lied publicly after his pardon, saying that the pardon indicated he was innocent, when it did no such thing. But never in my wildest dreams did I imagine that mere months after that pardon for fraud would Milton suddenly become the CEO of a well-established company.
The disgraced founder of Nikola Corp., who was sentenced to four years in prison for fraud for lying to investors about technological breakthroughs at the once-hyped electric-truck maker, has been named CEO of SyberJet Aircraft, the company announced Tuesday.
In a press release, SyberJet said Milton would guide the development of a new nine-seat light jet called the SyberJet SJ36. The company said it would be the fastest jet of its kind ever developed, with speeds clocking in as high as Mach .88.
Now, SyberJet is not a publicly traded company, unlike Nikola. But it is backed by private equity, meaning raising funds for this ambitious project is going to be important. And Milton has a lot of, ahem, runway to get this new jet off the ground. Deliveries on the product aren’t expected until 2032.
There is something of a con job already happening on the SyberJet website, where you can see this.
“Renowned”? That should be “infamous”. And these claims about what Milton did and did not bring to market are pretty laughable. The context about what happened after a few hundred trucks got sold is pretty damned important. For fuck’s sake, guys.
And I do mean “guys.” This is the kind of failing upward you can only get from a white guy. The ink on Milton’s pardon isn’t even dry yet, and he’s already a CEO of another company. And they say you can’t get justice in America anymore.
Filed Under: brad bondi, donald trump, pardon, trevor milton
Companies: nikola, syberjet
