How Wall Street & the FBI Colluded to Destroy Trevor Milton After His Tech Threatened Big Oil

The company’s mission was to reduce emissions from one of the largest polluting sectors in America—freight transportation. Milton’s vision was deeply personal, influenced by his upbringing around locomotives, which use electric powertrains powered by diesel generators. Nikola’s trucks were designed from the ground up, including proprietary frames, suspensions, and 800-volt battery systems, making them unique and functional prototypes. Despite this, the company was later accused of fraud, a claim Milton vehemently denies, emphasizing that the trucks were real and operational, contrary to the narrative pushed by short sellers and the government.

The Promise and Challenges of Hydrogen Technology

Milton provides a clear and accessible explanation of hydrogen fuel cell technology, highlighting its potential as a sustainable energy source. Hydrogen, the most abundant element, can be produced by splitting water molecules and then used to generate electricity through fuel cells. This process powers vehicles without emissions, making it an attractive alternative for heavy-duty transport, maritime, and aviation sectors where battery electric vehicles face limitations.

He explains the economic and logistical challenges of hydrogen, such as production costs and infrastructure. However, Nikola’s business model included not only manufacturing hydrogen trucks but also building the fueling infrastructure, addressing the classic “chicken and egg” problem. Milton argues that hydrogen can be produced efficiently on-site, especially near renewable energy sources like nuclear or solar plants, and that it offers advantages in energy storage and grid buffering. He also dispels common misconceptions about hydrogen’s safety, comparing it favorably to propane and natural gas in terms of transport risks.

The Role of Short Sellers in Nikola’s Downfall

A central theme of the interview is the destructive role played by short sellers, particularly a firm called Hindenburg Research led by Nate Anderson. Short sellers profit by betting against a company’s stock, and Milton describes how they actively work to drive down share prices through negative reports, often mixing a small amount of truth with overwhelming falsehoods to create sensational “hit pieces.” Hindenburg’s report on Nikola accused Milton and the company of fraud, claiming the trucks were fake and the business was a sham.

What makes this case extraordinary is the alleged collusion between Hindenburg and the DOJ. Milton reveals that Hindenburg communicated directly with federal prosecutors before releasing their report, effectively coordinating an attack that led to a government investigation and indictment. This relationship between a private financial entity and a government agency, where the former profits from the latter’s legal actions, is portrayed as a profound miscarriage of justice and a corruption of the legal system.

The Department of Justice’s Involvement and Misconduct

Milton details how the DOJ initially had no intention of investigating Nikola until prompted by Hindenburg’s report. The Eastern District of New York first looked into the allegations and found no wrongdoing, but the case was later transferred to the Southern District, known for its high conviction rates and aggressive prosecution tactics. The DOJ’s conduct throughout the investigation and trial is described as ruthless and focused on securing a conviction at any cost, rather than seeking the truth.

He exposes a “playbook” used by prosecutors involving psychological warfare designed to isolate him, turn colleagues against him, and control the narrative. The DOJ allegedly coerced company executives to testify against Milton under threat of indictment, sanitized exculpatory evidence, and ignored clear proof of his innocence. Milton also accuses the DOJ of fabricating charges based on his public statements and tweets about the company’s business plans, effectively criminalizing speech and setting a dangerous precedent for free expression.

The Psychological Warfare and Legal Strategy Against Milton

The interview reveals the intense psychological pressure Milton endured during the prosecution. The government’s strategy involved isolating him from his support network, intimidating employees, and fostering distrust within Nikola’s leadership. Milton describes how his legal team and company executives were manipulated into turning against him, with threats of indictment used as leverage to secure damaging testimony.

This divide-and-conquer approach was compounded by the law firm Kirkland & Ellis, which Milton accuses of unethical behavior, including collaborating with prosecutors to frame him and profiting immensely from the chaos. Milton’s personal legal fees alone exceeded $80 million, while the law firm reportedly earned over $100 million. The financial incentives for law firms to perpetuate litigation and controversy rather than seek resolution are highlighted as a systemic problem that fuels injustice.

Media Complicity and Manipulation

Milton exposes the close relationship between short sellers and major media outlets such as Bloomberg and CNBC. He alleges that these media organizations worked hand-in-hand with Hindenburg to disseminate false narratives about Nikola, including selectively editing interviews to misrepresent his statements. For example, a Bloomberg interview where Milton explained the truck’s rolling down a hill for cinematic effect was edited to suggest deception, misleading the public and the courts.

The media’s role extended to airing a damaging episode of CNBC’s “American Greed” during jury deliberations, designed to influence the trial’s outcome. Milton’s team has filed a billion-dollar lawsuit against CNBC and Hindenburg for this coordinated attack. The media’s complicity in amplifying short sellers’ attacks and shaping public opinion is portrayed as a critical factor in Nikola’s destruction and Milton’s conviction.

The Jury and Trial Experience

Milton provides a candid and troubling account of his trial in New York, emphasizing the unfairness of the venue and the composition of the jury. Despite having no personal or business ties to New York, the case was tried there because of the stock’s listing on the New York Stock Exchange, a decision Milton argues violates constitutional protections regarding venue. The jury pool consisted largely of individuals on government assistance or with little connection to the business world, many of whom were biased against wealthy white men.

One juror, who later admitted to harboring explicit class and racial biases, played a dominant role in the jury’s decision to convict. Milton describes how this juror lied during voir dire about her social media use and openly expressed hostility toward billionaires, including himself. The jury’s rush to convict, motivated by personal prejudices and a desire to conclude the trial quickly, underscores systemic flaws in the justice system and the challenges faced by defendants in high-profile white-collar cases.

The False Allegations of Espionage and Russian Collusion

In a shocking revelation, Milton recounts how his legal team was asked if he was a Russian asset and accused of hacking government systems and short sellers. These baseless allegations were reportedly used to justify pretrial detention and to stoke fear among prosecutors and judges. Milton denies any such involvement, describing himself as a naive entrepreneur with no ties to Russia or hacking capabilities.

This episode illustrates the extent to which the prosecution was willing to fabricate or entertain absurd claims to strengthen their case and intimidate Milton. The use of national security rhetoric and conspiracy theories in a financial fraud case reflects a troubling trend of weaponizing law enforcement powers for political or financial gain.

The Personal Toll on Milton and His Family

Throughout the interview, Milton shares the profound personal hardships he and his family endured during the ordeal. His wife suffered severe health complications, including autoimmune diseases and diabetes, exacerbated by medical errors and the immense stress caused by the legal battle. Milton describes caring for her during her illness while simultaneously fighting to save his company and reputation.

The emotional and financial strain was overwhelming, with Milton losing billions in company value, facing life-altering legal consequences, and spending tens of millions on legal fees. Despite these challenges, he emphasizes his commitment to integrity, philanthropy, and faith, underscoring the human cost behind the headlines and legal proceedings.

The Presidential Pardon and Its Significance

A pivotal moment in Milton’s story is the full and unconditional pardon granted by former President Donald Trump. Milton recounts the surreal experience of receiving a call from the White House, followed by a personal conversation with Trump, who expressed empathy and a desire to correct a grave injustice. The pardon spared Milton from further legal jeopardy, asset seizures, and potential imprisonment.

Milton praises Trump’s courage and character, contrasting it with the failures of other political figures. The pardon is described not only as a legal reprieve but as a deeply meaningful act of human kindness and justice. Milton vows to use his experience to advocate for criminal justice reform and to expose systemic corruption.

Proposals for Criminal Justice Reform

Drawing from his ordeal, Milton outlines several reforms he believes could prevent similar miscarriages of justice. He advocates for mandatory recording of all interactions between prosecutors and witnesses or defendants to prevent coercion and misconduct. He also calls for defendants to have the right to choose their trial venue to avoid biased jurisdictions.

Milton highlights the need to curb prosecutorial overreach, improve transparency, and hold law firms accountable for unethical behavior. His proposals aim to restore fairness, protect free speech, and reduce the influence of financial interests in criminal prosecutions. These reforms, he argues, could eliminate a large percentage of wrongful convictions and restore public trust in the justice system.