Trevor Milton Releases Documentary to Challenge Fraud Conviction; Reclaim Legacy

Trevor Milton, founder and former executive chairman of Nikola Corp., has released a new documentary titled “Conviction or Conspiracy – The Trevor Milton Saga” to present his side of the story following a federal fraud conviction and subsequent pardon by President Trump.

The nearly two-hour film, available for free on YouTube, frames Milton as a victim of short-sellers, media scrutiny, and a flawed legal process. It revisits his rise in the electric truck industry, his fall, and his ongoing efforts to restore his reputation.

“For years, I’ve been silent—forced to sit back while the media, opportunists, and corporations ran wild with their version of my story. Today, that silence ends,” Milton said in a press release. “This isn’t just my story—it’s a warning about how quickly our system can be weaponized.”

Documentary Themes and Claims

The documentary is positioned as a counter-narrative to the 2020 Hindenburg Research report that accused Milton of fabricating claims about Nikola’s technology. Key elements of the film include:

• Milton’s early entrepreneurial background, including failed ventures and inspiration for Nikola after observing the potential of electric locomotives.
• Nikola’s explosive rise, particularly after going public via a SPAC, which made Milton a billionaire overnight.
• Rebuttal to fraud allegations, including the infamous “Nikola rolling downhill” video, which Milton’s team claims was mischaracterized.
• Criticism of the legal process, alleging suppressed evidence, jury bias, and overreach by federal prosecutors.
• Post-trial revelations, including what is presented as new exculpatory evidence and support from former Nikola insiders.

One particularly notable moment in the film includes a conversation with former Nikola CEO Mark Russell, in which he reportedly expresses doubts about the fairness of Milton’s conviction.

Post-Milton Nikola: A Company in Decline?

The film does not hold back in its critique of Nikola’s performance since Milton’s departure. It alleges:

• Poor executive decisions diluted shareholder value.
• Mismanagement led to strategic missteps and asset sales.
• The company has drifted from its original mission, according to former employees interviewed in the film.

The Aftermath

Milton’s documentary adds to a growing trend of embattled executives leveraging direct-to-consumer media to contest official narratives. It’s also a reminder of the high stakes surrounding SPAC-era valuations and the risks of hype-driven markets.

While his conviction stands, pending appeal, the documentary aims to shift public perception and generate renewed scrutiny of the legal and media processes that led to his downfall.

If you have watched it, what's your take on the subject? You can voice your thoughts in our FreightCaviar Forum.

Source: YouTube | FreightWaves