According to newly filed court documents, Trevor Milton, founder of Nikola, is attempting to buy back his former company’s assets out of bankruptcy—just weeks after receiving a pardon following his securities fraud conviction.
Nikola filed for Chapter 11 bankruptcy protection in February and hopes to finalize a sale by mid-April. However, the ex-CEO’s involvement has been met with resistance. Court filings also reveal that the electric truck maker recently blocked him from personally inspecting the company’s factory in Coolidge, Arizona.
Milton’s interest in Nikola is the latest twist in the tumultuous history. He. established the company back in 2014, and eventually took it public in 2020. However, he stepped down a few months later due to various fraud allegations and was convicted in 2022. After being sentenced to four years in prison, he was pardoned by President Trump in 2025.
Meanwhile, Nikola struggled with battery fires, recalls, and its overall financial health before filing for bankruptcy.
Last week, lawyers for a Nevada-based entity called ISSO LLC disclosed in court that they submitted a bid for Nikola’s assets on March 21. Nikola permitted ISSO to tour the Coolidge factory as part of the process, but imposed strict limitations: no photos or videos were allowed, and a specific ISSO representative was barred from entering the premises.
Although that individual’s name was redacted in court filings, during an emergency hearing last week, Nikola’s attorney described someone matching Trevor Milton’s profile. Paperwork from recent years also shows Milton’s father, Lance Milton, and one of his attorneys, Troy Wallin, listed on ISSO’s filings with multiple state agencies.
A source close to Milton, also confirmed to a leading tech website that he is actively pursuing the bid. However, Milton’s spokesperson declined to comment.
