In short
Nikola founder Trevor Milton claims Wall Street short sellers and the DOJ/FBI colluded to destroy him after his hydrogen/electric truck technology threatened Big Oil. He argues the “Nikola One” truck was real and functional, but a short-seller narrative (“fake truck”) was used to trigger federal action, leading to his indictment, conviction, and company collapse.
Guest backgrounds
Trevor Milton is the entrepreneur behind Nikola (built in Salt Lake City; prototype unveiled in 2019). Tucker Carlson is the interviewer. The episode discusses short-seller Nate Anderson and Hindenburg Research (described by Milton as the attacker), plus DOJ/FBI involvement and a law firm (Kirkland & Ellis) that Milton says received large fees.
Key claims
Milton says Hindenburg created a report mixing truth with lies, communicated with DOJ before release, and profited from the stock drop (Milton claims $30–$100M). He says DOJ subpoenas followed within 48 hours, and that prosecutors shifted venues after an initial review found no issue. He also claims DOJ used psychological pressure on executives and that communications were used to “frame” him. He alleges a government witness (Paul Lackey) was paid $600k by Hindenburg.
Notable examples
“Nikola One” prototype rolling downhill in headlines; a commercial using the truck; FBI visiting Milton’s chief engineer and later “declining” after seeing the truck; Paul Lackey’s testimony and alleged Hindenburg payment.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOThe Birth of Nikola
1:10 to 2:20
Trevor Milton shares the origins and goals of his company, Nikola.
“Because I think those of us who felt that, you know, this was the most just country in the world will have our preconceptions adjusted.”
Electric vs. Hydrogen Trucks
2:20 to 4:46
Discussion on the advantages of electric and hydrogen trucks, including efficiency.
“And it kind of morphed through the time.”
Understanding Hydrogen Fuel
4:46 to 7:18
Trevor explains how hydrogen fuel works and its potential benefits.
“So you build this company, it starts electric and then you go into hydrogen.”
Infrastructure Challenges and Costs
7:18 to 10:10
Exploration of the costs and infrastructure needs for hydrogen production.
“But hydrogen on a heavy-duty level makes more sense.”
The Safety of Hydrogen Transportation
10:10 to 11:44
Addressing safety concerns and comparisons with propane transportation.
“That was really the idea was to, is to eliminate the emissions on the road, become an, uh, an energy conglomerate and provide energy.”
Nikola's Journey and Prototypes
11:44 to 14:00
Overview of Nikola's development and the unveiling of their first prototype.
“So it takes a lot of energy to produce hydrogen.”
The Reality of Nikola's Truck Prototype
14:00 to 19:13
Learn about the genuine innovations and capabilities of Nikola's first prototype truck.
“Imagine if that went off, it would be, there'd be nothing left of like an acre lot or five acre lot.”
The Role of Short Sellers in Trevor's Downfall
20:25 to 28:00
Understand how short sellers collaborated with the DOJ to undermine Nikola.
“And I think this is one of the most extraordinary things I've ever heard ever.”
Investigation and Indictment Overview
28:00 to 29:49
Learn about the initial investigation into Trevor Milton and the role of short sellers.
“with you investigate indict bring you to trial anything until they were approached by this group of short sellers who was like hey you should look into this to this Trevor Milton from what I know that is 100 % accurate.”
Financial Manipulations and Consequences
29:50 to 32:09
Discover the financial implications and manipulations surrounding Trevor Milton's company.
“Then they go essentially to different prosecutors, people they have better connections with.”
Show all 36 chapters
Financial Manipulations and Consequences
32:10 to 33:07
Discover the financial implications and manipulations surrounding Trevor Milton's company.
“For a long time, that meant good locks and maybe an alarm system.”
Corruption and Legal Warfare
34:22 to 38:30
Uncover the systemic issues and corruption within the legal proceedings against Trevor Milton.
“No, I didn't even know it was happening, dude.”
Psychological Tactics and Division
38:31 to 42:05
Learn about the psychological tactics used to manipulate and divide Trevor Milton from his colleagues.
“And not just him, there's other short sellers.”
The Legal Maneuvering Against Trevor Milton
42:05 to 44:00
Learn about the alleged collusion between the DOJ and a law firm to frame Trevor Milton.
“So what they do is they just say, executives, we're going to indict you too if you don't just don't do whatever we say.”
The Financial Toll of Legal Battles
44:00 to 48:03
Explore the financial impact of legal fees and corporate actions against Trevor Milton.
“The company paid Kirkland over a hundred million dollars.”
Trevor Milton's Struggles and Background
48:13 to 54:04
Uncover Trevor's challenging upbringing and how it shaped his character.
“This podcast is supported by Anthropic, the public benefit corporation behind Claude.”
The Media's Role in the Short Selling Scheme
54:04 to 56:03
Examine how media manipulation played a role in the downfall of Trevor Milton.
“And it would be two days, sometimes three days I wouldn't eat.”
Trevor Milton's Personal Struggles
56:03 to 58:05
Trevor discusses his wife's serious health issues and their impact on his life.
“the board I was going to retire in December.”
Allegations and Media Manipulation
58:05 to 1:00:45
Trevor details the allegations against him and how media manipulated the narrative.
“I think it was just intimidation is what I believe.”
Corruption in Media and Short Selling
1:00:45 to 1:03:02
A discussion on the collusion between media organizations and short sellers.
“There's no crime for lying about someone, unfortunately.”
The Government's Role in His Downfall
1:03:02 to 1:06:18
Trevor explains how the government was involved in his legal troubles and market impact.
“You just head to Tucker Carlson dot com to become a member of TCN today.”
Accusations of Treason and Fear Mongering
1:06:18 to 1:10:00
Trevor reveals how he was wrongfully accused of being a Russian asset to undermine him.
“It wasn't even real, it was fake everything.”
Allegations Against Trevor Milton and Government Misconduct
1:10:00 to 1:14:20
Discussion on the accusations against Trevor Milton and the alleged collusion of short sellers and the government.
“Like they want to just throw me in prison for this.”
Trump's Pardon Announcement
1:14:20 to 1:15:00
Trevor Milton expresses gratitude for Donald Trump's pardon, which saved him from financial ruin.
“and I use his name so sacredly because I'm a religious person.”
Reform Ideas for Criminal Justice System
1:15:00 to 1:17:00
Trevor Milton shares his ideas for reforming the criminal justice system based on his experiences.
“I don't care what the short seller narrative is.”
Challenges of Venue and Jury Selection
1:17:00 to 1:19:50
An exploration of the challenges faced by Trevor Milton regarding the trial's venue and jury selection process.
“Are you allowed to whip out your iPhone and record the interview?”
The Jury Experience in New York
1:19:50 to 1:24:01
Trevor Milton reflects on the jury experience during his trial and the demographics of the jurors.
“the venue is one of the most powerful clauses ever given.”
Jury Selection and Concerns
1:24:01 to 1:25:11
Discussion about the jury selection process and its integrity issues.
“And so long story short is that we go into the trial.”
Media Manipulation and Juror Bias
1:25:12 to 1:26:34
Exploration of juror biases and her public statements after the trial.
“And so she starts speaking to the media.”
Racial Dynamics in the Justice System
1:26:35 to 1:27:44
Discussion on the implications of racial attitudes among jurors.
“I think it's because he's South African or something.”
Reflections on Conviction and Justice
1:27:45 to 1:29:49
Personal reflections on the trial and feelings towards the jury's decision.
“So did you consider fleeing the country?”
The Toll of Stress and Personal Struggles
1:29:50 to 1:31:39
Discussion on the emotional toll of the trial on personal relationships.
“than what I paid over my five years of hell.”
Philosophy of Helping Others
1:31:40 to 1:34:04
Personal philosophy on philanthropy and his life experiences influencing it.
“I was like, I can't, I could never imagine hurting.”
Corruption and Accountability in the Prosecutorial System
1:34:05 to 1:35:30
Addressing corruption and the need for accountability in legal processes.
“They have layers, like nine layers, just deep everywhere.”
The Pardon: A Turning Point
1:35:31 to 1:38:02
Details about receiving a pardon from President Trump and its significance.
“Well, I mean, obviously they traded on it.”
Trevor Milton's Pardon Story
1:38:02 to 1:45:52
Trevor Milton shares the emotional details of receiving a pardon from President Trump.
“disgusting it was wrong on every level and i'm going to issue you a full and unconditional pardon.”
Transcript
Automatic transcript. May contain errors.0:00This podcast is supported by Anthropic, the public benefit corporation behind Claude. Everyone's got a hard question about AI. Your job, your kids, where it's going. Anthropic was built to surface those questions and share what it finds along the way. Because there's hope in hard questions. Ask yours at Claude.ai slash Spotify and keep thinking. That's Claude.ai slash Spotify. In a lifetime of listening to stories about innocent people wrongly prosecuted, I have never heard anything like what happened to Trevor Milton. You've got to watch this.
1:01You often hear the phrase miscarriage of justice, and we had this pretty amazing dinner last night where you explained exactly what happened to you. And the details are so shocking that I just want to start this by saying I'm really excited for people to hear exactly what happened to you. Because I think those of us who felt that, you know, this was the most just country in the world will have our preconceptions adjusted. You had a vehicle company. Tell us about the company. What did it do? What did you started it? What was the product? How did it work? Yeah, so Nikola. Nikola was a company I built out of my basement.
1:39And a quick pause there just for everybody. By the way, Tucker's dinners are awesome. I don't make them. We came here last night, had dinner with him first. It was such an incredible time to just talk about anything. So thanks for having us for dinner. I loved it. And it allowed me to really get to know you too. So thanks. That was really cool. Thank you. Yeah. Um, we, so Nikola, Nikola was a company I built out of my basement. So a true entrepreneur story, um, literally right out of my basement in my house in Salt Lake city is where we started it. Um, we grew it to the point where we are bursting at our seams inside of, uh, in our basement.
2:16And our whole goal was, is to build a, uh, you know, a clean emission truck. And it kind of morphed through the time. Like we started off as like a natural gas truck and then we moved it to a, to a hydrogen, uh, zero emission truck. When you say truck, like pickup truck? Big semi truck. Okay. So the trucks that haul goods across the country. Yeah, exactly. The ones you see on the freeways hauling 80 ,000 pounds. That was our, because it was the third, I think it was around the third largest polluting industry in America. So the whole point was just to reduce the amount of the emissions and noise.
2:48And it was also the fact that electric powertrains are so efficient. I just loved them. I grew up on locomotives. My dad managed the railroad when I was a kid. So I grew up on locomotives. and the whole idea was to build a locomotive semi-truck. That was like my electric. People may not know that many locomotives are electric. They all are. Their entire powertrain's electric. They have a diesel generator that powers the electric motors, but for the torque and the power, you have to have the electric motors. We did a video last summer on the Cybertruck, and we hauled 8 ,000 pounds of dirt in the thing.
3:23And if you ever hauled anything in a truck, you know you can feel the engine strain When you're an electric vehicle, and I'm pretty opposed to electric vehicles generally, but for hauling stuff, it's beyond. The difference is just crazy. One of the best parts is the ability to recapture all the energy. That's what I love the most about electric powertrains is that like when you go to hit your brakes, rather than wearing brake pads down, what happens is those motors go into reverse and they're able to absorb all that. They become a generator and they start outputting. So say like the cyber trucks, like 400, I don't know if it's a 400 or 800 volt platform.
3:58I think it's 400 volt. But anyways, what happens is instead of using 400 volts, now you're charging 400 volts into your batteries. And so with big semi trucks, it makes a huge difference. So I live a part of my life up in kind of the Utah, Wyoming area. And there's a part of these paths that goes from Park City down to Salt Lake. Imagine if you have an 800 or an 80 ,000 pound load, you're charging your battery all the way from the top of Park City, all the way to the bottom. You're going to have a battery that's 20, 30 % charged more when you get to the bottom. Just from braking. Just from, exactly, regeneration.
4:30So you're not even braking. You never use your brakes. And that's what's so cool about electric vehicle. Like really what it is, is the instant torque and the ability to recover all the lost energy. And that's just something you can't get anywhere else except for that. I strongly agree. Just as an engineering matter, it's incredible. So you build this company, it starts electric and then you go into hydrogen. Can you give us the non-complicated one-minute explanation of what that means? What's a hydrogen motor? Hydrogen is the most abundant element in the atmosphere. It's the only energy that can never be depleted.
5:06So the reason why I love hydrogen is that it comes from water. You can split it. It comes from water. You're able to split it. It's also in the atmosphere. H2O. H2O hydrogen, exactly two parts. Exactly. So So how this works is the hydrogen is stored in, you separate it from the water, you store it. And the hydrogen is then passed through a membrane, which creates electricity. That electricity is captured through these membranes and delivered to the batteries of the vehicle. Now there's inefficiencies with hydrogen, but there's also inefficiencies with electricity on the grid. So if you produce hydrogen on site, it can be as efficient or better efficiency than electricity itself.
5:47So when a lot of people plug in their cars, they're like, oh my, you know, they talk about the efficiency of an electric vehicle, like 97 % or 92%. Well, that's great, but it's actually not really that. Let's talk about where was that power generated from? Exactly. It was generated from a solar farm, okay, of 22 % efficiency or less. And then transmission lines that take you 800 miles to your home through transformers. you've lost another 20 30 percent of efficiency over all that entire lifeline if you factor in how much loss actually happens on a grid um and through transformers and transformers into your home and all this stuff and so realistically like if you look at that the numbers can actually be worse than hydrogen but people don't want to believe it they're like oh my car is 90 92 percent or 97 percent efficient once you're once the electricity reaches your once it reach your vehicle so with hydrogen the point the the point is is that you're producing hydrogen is so difficult to say transport.
6:47It's not extremely difficult, but it's harder than electricity to transport. So what you do is you produce it on site. So you're saving all that efficiency, say from like hydroelectricity or whatever, right? But the whole point is, is that hydrogen can be used over and over and over again. And you don't have to mine any mountains. You don't have to, you don't have to, you know, there's no other elements other than just water and electricity. That's it to produce hydrogen. So there's good and bad about hydrogen. It does not fix every application. And I've always told people, like, I think that, like, electric vehicles on a car level make much more sense.
7:19But hydrogen on a heavy-duty level makes more sense. So hydrogen for semi-trucks, for trains, for the marine industry, the maritime industry, for ships, for aviation. That's where hydrogen makes all the sense. How expensive is it? It's not that expensive, actually. To produce it, we call it, you move the decimals. So let's say that your cost of energy is$0.02 a kilowatt hour. hour. Okay. So let's just say you're two cents a kilowatt. Your hydrogen is$2 a kilogram. So it's actually really cheap. And a kilogram is actually about a kilogram on a, on a, uh, is pretty equivalent to, if you were to think about like a gallon of diesel, it's very similar kind of on energy level.
8:03Like if how far a vehicle can go, that's kind of how we, there's a lot of factors into that. So it's not an exact science, but the point is, is that to make it easy is a kilogram of hydrogen is going to be very similar to like you're going to cost compare it to a gallon of diesel. So just a couple of dumb questions. I have a hydrogen powered truck. How do I fill it up? You can't right now. And that's a problem. So that's what Nikola was all about was the chicken and the egg. The idea around Nikola, the reason why it went parabolic was it was not just building hydrogen trucks. It was actually supplying the egg too.
8:34So it's like a cell phone. Your cell phone is worthless without the tower. So everyone's like, oh, oh, you know, hydrogen, there's no infrastructure. It's stupid. It's going to cost$100 billion to develop infrastructure. Well, they spent, you know, hundreds of billions on cell phone towers. Who cares? Infrastructure is like, you know, it usually sticks around for 50 to 100 years. They spent over a trillion dollars on the Iraq war. There you go. Yeah. Got a lot out of it. We didn't even get our airplanes back. They left them over there. Yeah. It's now controlled by Iran. So, yeah, big win. Okay.
9:05So, you were in the business, not just of building the trucks, but of building the infrastructure to fuel the trucks? It was. That was the whole reason of Nikola. It was really an energy play. The point was to displace the oil companies. That was my goal and my dream was to either partner with or displace the oil companies entirely. And look, I have no problem with diesel. I think it's one of the greatest things America's ever found was diesel. It powers everything. It powers, I mean, you have diesel, literally have like, you have this, it touches your life probably a hundred times a day. I mean, even a piece of plastic has, you know, has petroleum in it, right?
9:44There's everything about diesel was, it's the most efficient way of moving American goods for over a hundred years. You know, like it's just the greatest thing America's ever seen, but there's also ways you can have both in this world. And that was my, my goal was, is to, was to become a, or like essentially as powerful or as big as like an oil company, but not doing oil, but doing hydrogen. And that was my goal. That was really the idea was to, is to eliminate the emissions on the road, become an, uh, an energy conglomerate and provide energy. That's a residual income every month in your life.
10:20And And that's what I, that was what - Is hydrogen produced at plants? They do. I want to produce hydrogen to power a fleet of trucks. Where do I produce it? Yeah, you would have a plant that you would build and it would be done. There's two different ways of doing it through a proton exchange membrane. They call them PEMs or through electrolysis. So those are the two main methods. And even like Chevron right now produces hydrogen, but it's like$20 a kilogram. Well, that equates to$20 a gallon of diesel. So you'll never compete. the point of hydrogen is is what you have to do is build it on size so very similar to data synergy we were talking about data centers last night um the amount of energy that they're consuming for ai and so what do they do they go build them on right next to the what do they do they build them next to the nuclear plant now no of course so it's the same thing with hydrogen the only like we we had we had the nuclear plant in arizona was quoting us energy under two cents a kilowatt hour at the time so that they can make it for a penny and a quarter a nuclear plant can So what you're talking about is you're talking about if it's two cents a kilowatt hour, you're talking about, I'm sorry, you know, two cents a kilowatt.
11:25You're essentially producing hydrogen in about, you're producing hydrogen about$2 a kilogram. And at that point, you're half the cost of diesel. It's game over. The entire world would, everything would go hydrogen. And we were on the verge of that. And then that's when the forces at B came after us and decided to completely destroy us. It was a most wild event ever. So it takes a lot of energy to produce hydrogen. A ton. But it's so it but it's okay because we have more energy than we know what to do with It realistically we do because for instance, um, the grid can only handle so much energy And so if you look at california, california will actually pay you to take their energy at parts of the day Because you have too much of it from solar solar is fantastic in in the west coast Um, and even in some other areas But the problem is as the sun comes out it loads the whole grid full of energy and then they have to start dumping it So what one great thing about hydrogen is is that you can buffer the grid You can say, send anything you want to the grid.
12:18Doesn't matter because any excess, we can produce hydrogen. And you can suck out hundreds of megawatts of energy from the grid, producing hydrogen and storing it. And then you can store it liquid as well. And then you can transport it from there. And that was the whole idea of hydrogen. It's not a one size fits all, but it's a solution to the major problems we have in America. How dangerous is it to transport hydrogen? Not dangerous at all to transport it. Most of the time they'll transport it in liquid form. And that's the best way to transport it. and it's very inexpensive to liquefy. It's about 50 cents a kilogram.
12:49So if you're$2 a kilogram and you can liquefy it for 50 cents, now you're$2.50 a kilogram. And you can move that anywhere in America at eight to 16 ,000 kilograms at a time, just like an oil tanker is. And it's not more dangerous than an oil tanker. I would say it's more dangerous, but it's nothing different than like transporting helium or any other gas, like natural gas. Like you see, no one knows that natural gas is being transported everywhere all the time and it's extremely volatile hydrogens hydrogen the reason why hydrogen can be a little bit dangerous is that the molecule is so tiny it's the smallest molecule in the and you know out there so it gets the fittings have to be designed perfectly the lines have to be inspected all the time but one great thing about hydrogen is is it's is how light it is so if you were to have an accident or something like that it just goes straight into the atmosphere because how light it is unlike propane where it settles yes the real dangerous stuff is propane.
13:45That's like, cause it settles below the air and any sparkle just, I mean, I mean, everyone doesn't even know that. I mean, they have a propane tank next to almost everyone's house in a lot of rural areas in America. Oh yeah. That thing we do right here. Yeah. Yeah. I had, I had eight of them at my cabin. So you have like eight, eight, 1000 gallon propane tanks buried. Imagine if that went off, it would be, there'd be nothing left of like an acre lot or five acre lot. I have a lot of propane tanks and I never think about it at all. So hydrogen's way safer than propane. In fact, I always take my matches and light them off the propane tanks.
14:16Do you? No, just kidding. No, but your point is a good one. I mean, people who live far from... Anyone in rural America has a lot of propane around. A lot. Anything new scares people until they realize it's not dangerous. So it's not directly connected to the hydrogen bomb. It's not the same as the hydrogen bomb. No. Philosophy is similar, but a little bit different. Just kidding. Okay, so you build this company. How does it do? It does fantastic for a long, long time. We took this thing. We developed our first prototype. It was called the Nikola One. It was our very first prototype. Truck. Truck.
14:56Semi-truck. We unveiled it in 2019. Where'd you build it? In Salt Lake City. Wow. At our facility. And it's really cool. You built the truck at the facility? We did. At the facility, we have hundreds of photos of us assembling. And it was all fabricated by our teams and people. we hired to help us like so like the frame was ours the suspension was was was designed by our team and a group and outside engineering partners but we own the ip on or co-owned it was just like it was really cool so like you think about a peter built or a kenworth truck yeah yeah yeah that all taken them decades to design their trucks we had a an initial design of our truck that we built so all the frame was ours the suspension how the cab everything it was a it was not a pile of crap, but it was a first prototype.
15:39It was like, it was rugged. I mean, it didn't just take a Peterbilt and throw your logo. No, no, no. It was entirely from ground up art truck. It was beautiful, but it was like it, you know, it wasn't ready for production. It was a prototype and all the parts is where the world didn't know, like the whole, and I'm going to tell you a little later about like, you know, how the short sellers came after us and the government did. Um, but what they don't know is that truck was actually real and it functioned and everywhere. They sold this huge lie that this truck was fake, but it was really real. So let's go through that.
16:07Like the suspension was real. The airlines, the air rides system was real. The entire frame system was real. The cab was real. The power steering was real. The batteries were real. We had the first 800 volt battery on a, on a, on a semi truck that I knew of in the world. And we tested it. We tested the battery, 800 volts. It worked. Everything was fine. So the, the axles were real. The case was real. We had the rotors and staters and gears. Everything was real. All this stuff was real in this truck. And what's crazy is when, you know, later on, we ended up doing a commercial and we're like, oh, yeah, go ahead and use it for commercial.
16:43No problem. You know, you see like the Chevy Camaro turning into Bumblebee on the Transformers. It's like you don't think that GM's defrauding everyone because the Camaro becomes Bumblebee. You're like, it's a commercial or it's a movie. Who cares? What is it used for? I was like, yeah, go ahead and use it. Who cares? So they used our truck in a commercial and they rolled it downhill. All the parts worked on it, could have powered itself if we wanted to. We probably would have taken a month's worth of work to make sure it was safe enough to, maybe two months to make sure it was safe enough to drive on all on its own.
17:16But the truck function, it was real. And this was the lie that destroyed my life. This was the moment that destroyed my life because later on the short sellers sold it to the government that this truck was fake and it never worked. And that message was so sexy that this truck was rolling down the hill that no one cared about the facts. They cared about this headline, Nikola rolls a truck down a hill. And that's what ended up, that's what ended up, you know, allowing these people, all these evil people to destroy the company, destroy me, make hundreds of millions of dollars in profit. And the government to indict me was this big fat lie by the short sellers and the truck didn't function.
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19:56Hey Chicago, class it up with Crocs. You know back to school is coming in fast. So why wait to find your new fave footwear? Step into a local Crocs store and step into your new look. Try it. Style it. Make it yours. Because the right pair doesn't just show up. It shows off. First day fits, handled. Walk out ready for whatever's next. Visit your nearest Crocs store today. The reason I wanted to talk to you and the reason I think your story is amazing and not just another, oh, I was unfairly prosecuted, which I think is a pretty common story in America's prisons, is because of the role of the short sellers.
20:39And I think this is one of the most extraordinary things I've ever heard ever. And so I just want to ask you to explain it in a way that people can understand. So you've made two references to a short seller. What's a short seller? So a short seller is a person or a fund. that actively bets against you that your stock is going to collapse. So unlike a regular investor that buys shares and they hope that the stock goes up, short sellers buy shares and they force it down. So it's like a, it should be completely illegal. It should be - Well, it has been for most of the last 100 years from I think the depression until right before the last financial crisis, there was something called the uptick rule, which prevented short sellers from selling when the stock was in decline.
21:24I think that's correct. I don't know. It's been heavily regulated. It's banned in a lot of countries. It's so clearly immoral and bad for a country and for markets that I don't exactly know why we have it, but we've had it since 2007. But anyway, but you're saying that a short seller as distinct from an investor makes money on failure. And not just failure, but forcing failure. So an investor invests base, and then they hope it goes well. They go out and they hope it goes well and they hope it does. Say you invest in Tesla or somebody else, whatever. You're hoping that they come out and they deliver on their products, right?
22:03You hope that they do good and it goes up and you make money and everybody makes money. A short seller is different because they don't just hope it goes down, they force it down. And this is where it gets really crazy and the story is crazy. It's never been told before. I've never gone through this. Explain how a short seller, this disreputable, evil, should-be-illegal brand of anti-investment, how they're working with the U.S. government, the DOJ? Like, how could that be? How does that work? This is where the Department of Justice has just gone so far off the rails. And it was covered up for a long time.
22:37No one knew about it. In my trial, this stuff got exposed. So you can, it's actually available. It's not like a, someone doesn't have to take my word for it, but we can, it's easily available through the, anyone can ask for a FOIA on it. Anyone can look at all the materials that was submitted in my trial. What was really crazy is that the short sellers were building a fake report on me and the company prior to us going public. And their entire goal was, okay, the SPAC is going to go crazy. We went public via SPAC. It's a special acquisition company. They knew it was going to go up. And what they wanted to do was then force it down.
23:10And that's where they make their money. So what they were doing is they were working with the Department of Justice. They were actually communicating with the Department of Justice prior to releasing the report, which to me is mind-boggling. What is a short-selling report? Short-selling report is normally a salacious and false report for the most part. So what they'll do is they'll mix in 5 % truth and 95 % lies to just scare the market. Some companies, look, there are some bad ones and like everything, a short-seller has gotten it right on a few companies, but the majority of what they attack is all complete bull crap.
23:46It's just their interpretation to make a company look bad. But a short selling report is like a magazine piece. It's like a hit, what we used to call a hit piece against a company. Exactly. Like this company is bad, fraudulent for these reasons. Yeah. And they do research on you. They do. And they do, they pay an enormous amount of money to employees. So they get inside information that a lot of time is slanted because they promise the employees money. So they - Wait, what? Yeah. So if I go to your employees and pay them for incident information on your company and then invest in the company, I go to prison because that's called inside trading.
24:17Yes. But if I go and pay your employees for bad information and bet against your company, that's legal? It's still inside trading. Yes, it is. But the prosecutors looked the other way. We actually presented them. Wait, is that really real? It's real. So look, they actually look - Martha Stewart went to prison. Yes. This is why I get so angry is we presented the Department of Justice, the evidence on Hindenburg's essentially insider trading. Tell us what Hindenburg is. Hindenburg was a short seller group that attacked us, that attacked Nikola and me, primarily me, but Nikola. And it's run by? A guy named Nate Anderson, who is the head of Hindenburg Research.
25:00And his entire goal was to burn a company, take out an insurance policy, burn the company to the ground, call the cops on you, and then collect on the insurance policy. So Nate Anderson, I just looked him up on the internet. I'd never heard of him. This is not my world. but there's like nothing on the guy at all. He was like 39 years old, no real track record as an investor. He was an ambulance driver in Israel for a while, not clearly graduated from college. There's like no information on the guy. And all of a sudden he winds up as this like major player in the American economy running the short selling group called Hindenburg, which just disbanded pretty recently.
25:37Just barely just disbanded completely. Okay. Yeah, ran away. So Nate Anderson produces a report attacking you, a hit piece on you designed to drive your share price down because he's bet against your share price as a short seller. Yeah, the weird part about this, this is so crazy. The short sellers, you like essentially commit this. I'm going to try to explain this easy to the public, but this is just get your blood boiling. without the Department of Justice involvement, the short would never work because your stock would like, they would just come out with some report and people would be like, whatever, this is stupid.
Read the full transcript
26:15Like, it's not true. The trucks are obviously real. It turned out that Nate Anderson was communicating directly with the Department of Justice prior to releasing the report, which means what he was doing is he was telling the Department of Justice that there was this fraud that he was going to, he was going to launch, he's launching this investigation, he's going to launch it. And he wanted to make sure that they had it in their hands and they were ready to look at it the second it hit. So what he does, he stokes the fire, gets them all angry at you, sells this big fraud. Was DOJ looking at your company before?
26:47They were because of me. Because what we found out was because of what Hindenburg was doing. So Hindenburg was feeding this. So the Southern District of New York, the federal prosecutors in New York had, as far as you know, no intention of investigating or prosecuting you until they were approached by a short seller? That is our knowledge, yes. It's fucking crazy, man. That's the craziest thing. That's insane. So the audience doesn't know this. The feds showed up. Sorry, I'm just like, I'm shocked. Yeah. It gets so much worse, too. But let me just say, just to put a finer point on this, in the United States, you're not supposed to be prosecuted so some guy can profit from your prosecution.
27:30Is that justice? It's not our country anymore. We've lost it. And it's, look, it is so, if people, this is going to be fun today because I get to tell you, you know, tell us the entire thing, but what no one's ever heard. This is why I love coming on your platform because it's so big and we can really explain the truth. the FBI so Hindenburg started investigating us and filling the FBI with all these lies but just to be clear you don't believe the Department of Justice had any plans to screw with you investigate indict bring you to trial anything until they were approached by this group of short sellers who was like hey you should look into this to this Trevor Milton from what I know that is 100 % accurate.
28:19This is unbelievable. So Nate gets the Department of Justice. Originally, he goes to the Eastern District, is what we hear. He lands in the Eastern District of New York because he wanted New York. Because New York, you're done. If you get indicted in New York, you're over. You get indicted in Arizona, Utah, you're going to get a fair jury. In New York, it's over. It's a guaranteed stamp conviction, 90-plus percent conviction rate. And the ones that get off are low-level crimes they don't care about. So what happened was is the Eastern District researched it. They sent the feds in Arizona out to our facility.
28:54They showed up at my chief engineer's home out of the blue. I get a call from my chief engineer and he's like, Trevor, the FBI just showed up at my house. I'm like, for what? They said the truck was fake. And I'm like, well, the truck's not fake. So, I mean, well, that's weird. I'm like, did you take him down to the facility? Go show it to him. I don't care. Have him call us. Have him call our attorneys. and they asked, he's like, yeah, they questioned me for like 10 minutes. They're like, hey, is the truck real? We know it's fake. And he's like, what are you talking about? Of course it's real.
29:24The truck's freaking real. It's at the facility. Why don't you come down? I'll show it to you. Feds wrapped up, essentially like made, you know, scared them. And then they went back and they're like, yeah, nothing's wrong. The trucks are real. So the feds originally, you know, they originally looked at and they said, nothing's wrong. So he didn't get the response he wanted. They went back. They essentially declined anything. They're like, yeah, the company's real. It's all I don't know what these guys are even saying that the company's fake, this bullcrap. So then he moves from essentially the Eastern District to the Southern District.
29:52Then they go essentially to different prosecutors, people they have better connections with. And next thing you know, the Southern District opens up an investigation. So this is after the Eastern District already turned it down, looked at it and said, there's nothing wrong. So then the Southern District gets it and decides they want to take me down. But this is all being shopped by a guy who's hoping to get rich from your failure. Exactly. Before, by the way, before we go. Why is he not in jail? It's the question that I think that's the question that should be answered. I just, I. But it gets worse.
30:28It gets worse because. I just didn't know. I'm sorry to keep repeating myself. I just didn't know that this happened. Yeah. And it gets even worse because of what he does and how involved he is in making sure that the Southern District creates an indictment. So his report is worthless without an indictment or an investigation by the Southern District. So then what happens is that he creates this big report and he shares it with the government. And then he launches his report, his short. So he takes out a huge position that your stock's going to collapse. And from according to the court, we have some information how much money he made.
31:07We don't have it all. We're going to get it through. There's a big lawsuit going on right now and we'll find it all out. But we know that he made somewhere between 30 and$100 million off of this short. Nate Anderson did. Hindenburg. Nate Anderson. That's what we know. It was, we know he's somewhere between 30 and 100 million is what he made on this short from creating this fake report, getting the Department of Justice involved. And then when he launched it, what happens is then the next, literally that day or the next day or whatever it was, within 48 hours, the Department of Justice sends all their subpoenas to everybody, like our entire company, us, our attorneys, me, everyone, like scaring the shit out of everybody.
31:46And as a publicly traded company, you have to disclose it. So what happens when you disclose an investigation by the Department of Justice? Your stock does what? And Nate Anderson and Hinderberg get rich. It's a guaranteed, absolute guaranteed profit because without the Department of Justice, he makes no money with them. He makes hundreds, potentially hundreds of millions of dollars. So what does it mean to be safe in your own home? For a long time, that meant good locks and maybe an alarm system. That was enough, but they're not enough. And you know that because the news is filled with stories of people who thought they were protected and fell victim anyway.
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33:38Because there's hope in hard questions. Ask yours at claude.ai slash Spotify and keep thinking. That's claude.ai slash Spotify.
33:51Hey Chicago, class it up with Crocs. You know back to school is coming in fast. So why wait to find your new fave footwear? Step into a local croc store and step into your new look. Try it. Style it. Make it yours. Because the right pair doesn't just show up. It shows off. First day fits, handled. Walk out ready for whatever's next. Visit your nearest croc store today. Did you know that this could happen? No, I didn't even know it was happening, dude. I didn't know until way, way, way late, like almost probably two or three years later that who was all involved in it. Like it took the, the investigate, like it took the, the subpoena power and everything else of when I was getting, when I got indicted to finally get in there and find all this out.
34:41And by then it was like too late to do anything about it. The company's gone. Company now is destroyed. And the Department of Justice at fault. $34 billion destroyed by the Department of Justice. so nate anderson could make a hundred million dollars and and the other people he's involved with made who knows how much money so there's funds in canada that were involved in this and we still don't know who they all were that made massive so what he did is he went out and told them to so the insider trading was prolific like he like you're not allowed to go tell people something that you have insider knowledge on and get them to trade on it he did this and this is why he shut his entire this is why i believe it's a belief this is why i believe he shut his entire firm down and ran.
35:22Where is he now? No idea. I mean, he's obviously, we're in the middle of a lawsuit, but like, no idea. So short sellers, as far as I know, don't have to disclose, or he does not specifically have to disclose who his investors are. So there's a syndicate, presumably, because that's typically the way, I don't know this, but I'm just guessing that there's a syndicate behind him. He has investors. Yep. Correct? Yep. And they're all profiting from this with insider information And you know for a fact they paid members of your staff. So the government's chief witness was a guy who made$600 ,000 on the short, paid by Hindenburg, by the way, paid by Nate Anderson.
36:04So the government's chief witness in my trial, my federal trial, was on the stand, made$600 ,000 by making sure I got convicted, and is set to make millions off of the so-called fraudulent whistleblower group. This is the government's chief witness. I mean, imagine like the guy on the stand. Who was he? This guy named Paul Lackey. But what was his role? Did he work for him? And it's public because he was in the trial. That's why I can say it. Did he work for the company? No, he had been to our facility one time in his life. He worked on the batteries. He was an outside guy. He worked on the batteries.
36:33He'd been to our facility one time in his life, and he was the government's chief witness. And he was paid by Hindenburg? $600 ,000 by Hindenburg. He submitted that on the stand. And he stood to make millions in the whistleblower groups. Who knows how much money he made from the fake fraudulent whistleblower group. I'm going to say this one more time. Are you positive that Hindenburg paid your employees for information about your company? They paid contractors and other people for it. Yes, that were inside of our company that had come in. Yes, 100 % for sure. And they used that information to trade.
37:06Yes. If someone wants to see, go look at the trial transcript. It's public. If you want to go see, go search for Paul Lackey. And he admits he made$600 ,000 from Hindenburg. Hindenburg paid him$600 ,000, a portion of how much he would make if he agreed to come in and create a story. And they did this and they did it to other people. There was other people that he promised money to, too. There's probably a half a dozen people that I don't know the exact number. We're going to find out in the lawsuit. But there was somewhere around a half a dozen people that Nate Anderson paid for information and gave them a portion of all the profits.
37:42And these are the guys that are part of this fake whistleblower group and that were part of testifying against me at trial. So justice in the United States and all civilized countries is administered by the state on behalf of the population, the whole population. So when the state indicts somebody, the state makes the claim that indicting this person, convicting and imprisoning this person protects the public. That's the point, right? That's the point of justice. Protect the society. Yep. The idea that a private investor could be driving a prosecution in order to benefit from it makes a mockery of the idea of justice.
38:19It's not on behalf of the public or protecting the public. It's on behalf of a commercial interest to try to put you in prison in order to help someone get rich. If Pam Bondi looked into this right now, Nate would probably be in prison for 30 years. This is how corrupt. And not just him, there's other short sellers. And it scares me because like my life - Lachman was a big short seller. I mean, there are a bunch of short, there are a lot of prominent people who've done a lot of short sales and gone on television to talk down share prices in order to benefit from the decline in share prices. And I don't understand why none of those people is ever prosecuted.
38:53And now I'm starting to understand that the system seems captive to those people. So you didn't, as you just said, You didn't know why this was happening for a couple of years. In those couple of years, what did the government do to you? Oh, my gosh, man. So the government, it's really interesting. The government has it. What Americans don't know is the government has a playbook. And it's been developed by the CIA and other entities inside the government. And it's passed down into the Department of Justice. They have a very clear playbook of how to guarantee a conviction and destroy someone's life and break them.
39:28So it's like the profilers, but psychological profiling. And what they do is they figure out how to do it. And they have a very clear playbook and it's taught and very disseminated within these groups how to do it. The first thing you do is you separate the person from all their friends and colleagues. And that's the number one thing you have to do. You have to separate them. You have to turn everybody against each other. Yes. That's number one. So psychological warfare. So they come in and they threaten everybody differently individually. They separate them. They don't care about the truth. They do not give a crap about the truth.
39:57We actually showed them the truth about major things that they were going after me for. And once they realized that they were wrong, they just pivoted to something else that didn't matter to indict me on. So this is, I want to stop at the psychological warfare real quick. And I want to tell everyone in the audience right now. In my indictment, there was never, not one time, they could not find not$1 missing ever. Not$1 misappropriated ever. Not one filing incorrect ever. there was no crime. There was no fraud. There was no, there was nothing. What did they hate me for? They came after me and died to me specifically because of my tweets, my speech, how I explained the business plan.
40:40We were a pre-revenue company going public pre-revenue. All of our filings disclosed that, that we were four years, two to four years out on revenue. And so I would speak about this business plan in present tense because why? Because all of our filings, which is what the government requires you to do, explain that we are two to four years out. So I was like, hey, this is how we're doing this. Okay. Well, I didn't realize that when you say this is how we're doing it, that somehow they could indict you because like, oh, well, you haven't done it yet. Well, yeah, but this is the process of what we're doing.
41:06Like I've explained that and they didn't care. They just indict you on it. They cut your words out. So it's speech. I want America to know why this is important because I've had a lot of people ask me like, you know, Trevor, why did the government indict you? And, you know, why did these guys take you down? And later I'll get into that. But the answer is the speech is what they indicted me for. The answer is even more scary. And we'll go into that later. It's the ability to prosecute speech is what the Biden administration wanted, was the ability to prosecute free speech. So I was the poster board for prosecuting free speech.
41:40But I'll get into that later and we'll actually really hit it hard. But what they do is they psychologically, what they do is they come in, they threaten everyone individually and they split you up. And so what they did is they scared everybody. They actually told my we have an email from where they called kirkland which was the attorney group kirkland ellis the prosecutors called kirkland and kirkland called the company because they want to keep these communications from ever getting private this is how they do it it's like a big sham it's called you know privileged communications the normally it's good when you seek advice from your attorney but the government uses it to circumvent the ability of disclosure so what they did is they called kirkland kirkland called the company and said we need two people two executives to testify against Trevor or they're going to get indicted.
42:26So what they do is they just say, executives, we're going to indict you too if you don't just don't do whatever we say. They don't care about the truth. They're just saying, this is what we're going to want and demand and you're going to do it. So who showed up? The two executives to testify against me. And this was like, this is the crazy part. And by the way, so that's step one. Divide everybody, turn them against each other. Do you believe, if I could ask you to pause, Do you believe the Department of Justice had an inappropriate relationship with Kirkland and Ellis? Personally, I do, but it's extremely inappropriate.
43:00But I think that they are very good at what they do and cover up their tracks. It would be very hard to— But you felt that Kirkland and Ellis was not straightforward? Well, no. We found communications between Kirkland and Ellis and ICLA where they actually laid out nine steps on how to frame me. and this came from the Department of Justice because it was my exact it was my exact indictment so that we know that the department the prosecutors had to have been talking to Kirkland and Ellis because they gave them literally the blueprint on what their indictment was going to be and these idiots put it in writing some intern was actually writing it down there was nine steps on how they were going to frame me step by step they actually said we're going to make up stories about Trevor and this is what we need to say were you being represented by that firm?
43:43I was at first yeah and then later I wasn't So there's some really bad misconduct there that is like, but ultimately like there's, the hard part is, is they, it's almost impossible to, to get into privileged communications and sue people on privileged. It's really, really difficult. It's not, not much you can do about it. How much did you pay Kirkland? The company paid Kirkland over a hundred million dollars. So I'm just trying to figure out who wins in this. So, so shareholders lost tens of billions of dollars. Your life was destroyed. You were convicted of a felony. And so the short seller won and the law firm won.
44:21Law firm. So my legal fees were over 80 million. Personally? Personally. 80 million? 80 million. And you know why? It was because, remember how I talked about psychological warfare? The next thing the government does is say, you're going to turn them into an enemy combative and you're not going to share anything. So then what happened is I was not privy to any of my communications inside the company. I couldn't interview a single employee. I couldn't interview anyone in the company. I couldn't get documents from the company. They were obligated to turn me over from my company because I left at this time.
44:52And they were obligated to turn this over contractually, but they just said, what are you going to do? Sue us? Go ahead. It'll take you two years. Kirkland said that to you. Well, that was, yes. And essentially Nikola, but through Kirkland, said, we're not sharing anything. Piss off. So then they got Kirkland to essentially turn the company against me. Wait, can I, just to be clear on the fees here, because the fees are really substantial. And so they're an incentive, clearly. So you paid Kirkland$80 million? I didn't pay Kirkland. I paid my attorneys, separate attorneys,$80 million. Okay. And Kirkland made$100 million.
45:30The company paid Kirkland over$100 million. $100 million. So this is what they did is what the law firms do. Kirkland, think about it. If Kirkland went into the Department of Justice and defended us and actually got this thing squashed, they might make$5 million. but if they create an indictment, now they create controversy. They get a bill at two to$3 ,000 an hour. They destroy the company. They create more problems. They defend every one of those fires. They create shareholder lawsuits. They defend those two. And then they defend the company against a company with the department of justice through the indictment.
46:02So if they create chaos, they make a hundred million. If they prove innocence, they make five. Do you see it now? I do see it. America? I'm not even a math guy, Trevor, and I see it. Yeah. Yeah, that's literally what happened. Over$100 million, is what I've heard. And through the lawsuits, what I've heard through the discovery, around over$100 million to Kirkland and their attorneys. I've known a lot of Kirkland attorneys. Some nice ones, but mostly just greasy, disgusting people. Honestly. I can tell you that law firms in New York, their single goal is to represent chaos because chaos creates immense wealth.
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48:07That's puretalk.com slash talker to switch to our wireless company. It's America's wireless company. It's Pure Talk. This podcast is supported by Anthropic, the public benefit corporation behind Claude. Everyone's got a hard question about AI, your job, your kids, where it's going. Anthropic was built to surface those questions and share what it finds along the way, because there's hope in hard questions. Ask yours at claude.ai slash Spotify and keep thinking. That's claude.ai slash Spotify.
48:46Hey, Chicago. Class it up with Crocs. You know back to school is coming in fast. So why wait to find your new fave footwear? Step into a local croc store and step into your new look. Try it. Style it. Make it yours. Because the right pair doesn't just show up. It shows off. First day fits, handled. Walk out ready for whatever's next. Visit your nearest croc store today. Like, I didn't realize how deep this was. Dude, look, I came from a farm town, man. I grew up in a small town called Kanab, Utah. Okay? My mom was dying when I was eight years old of cancer. We lived in Vegas. My dad's like, I got to get out of here.
49:28My mom's like, I don't want to die in a city. Just don't. I want to get out of here. So we moved to a small town called Kanab, Utah. One of the best things for me. It was really tough. But I moved to a small town in Kanab. We were extremely poor. My dad or my mom, essentially my mom was dying. Our insurance company dropped us, refused to pay any of her medical bills. My dad sold everything he owned in his life to pay for her medical bills. And, and then try to, try to figure out a way for her to have some sense of like happiness as she died. So we're in the small town in Canab. I'm taking care of my mom.
50:04My dad's working in Las Vegas, three to four hours away, trying to find work. And we are broke beyond measure. Like no food. Sometimes I had no money, nothing. Like I had to go out and work. I was working in the morning. I was delivering papers. I was, you know, go over to milk cows with some of my neighbors. I did whatever I could to make a few bucks mowing lawns after school, whatever I could. I was also in wrestling. And so I'd have to get up early and go to wrestling practice. And sometimes I'd go to practice, you know, and I wasn't very good. I just wasn't good. It was interesting because through Hindenburg and all the media there, they use this guy in locally and can have about me.
50:43They were like, oh, what do you think about Trevor? That he's like, oh, he's a loser. He lost every wrestling match he did. And he's like, he's a total loser. And it was really interesting. Wait, can I just ask you, so Hindenburg went and interviewed your childhood friends? They sent media to do it because they got media to, Hindenburg works with massive media groups. One of them was Bloomberg. The other one was CNBC. Hindenburg works with Bloomberg and CNBC? Yeah, they're tied, I mean, tied together, almost tied completely together. What? Yeah. So the short seller uses, like has a formal relationship with the media?
51:18monster relationship. This is how they get the short. They guarantee the collapse of a company. And this is, dude, it's deep, fucking deep. How can a short seller use the media to destroy a company and then profit from it? They're best friends. They all, what happens and how they get like, I can't tell you the relationship of what happens behind the doors with these guys. All we know is there was an enormous amount of communication between Hindenburg, a guy named Bloomberg, Ben Foley, other guys, and also CNBC where they created a salacious TV episode to hit during my jury deliberations. We'll talk about that later.
51:53Actually? Actually, yeah. We have a massive billion dollar lawsuit against CNBC and Hindenburg for this that just got the judge. We just cleared the motion to dismiss and the judge is like, I can't, wow. It's this deep. It goes so deep, dude. These guys are like straight up. It reminds me of a government entity, how deep the layers go. These guys had so much control with so many groups and they were working directly with the media. Man. The story is, it's so much bigger than just you. Yeah. And your family. Like this just says so much about how our financial system works in tandem with our justice system and our media establishment to make a few people rich while destroying so much like the country itself.
52:44It's really difficult because the audience has only heard, oh, Nico rolled a truck down hill. They don't know the truth. The truck was actually a real function, no problem. We just didn't turn it on for that scene and could have easily. But here's the thing. What's important to know is like why I did certain things. This is what is important. So going back to Cannab, you know, so I mean like the media went and interviewed in conjunction with the short seller groups, went and interviewed this guy and he's like, oh, Trevor's a loser. He lost every wrestling match. And it was interesting because later on, And someone was like, you know, and this kid, this kid was like, oh yeah, he's a loser.
53:18He lost. This is why he, he probably stole from everyone. This is why he got indicted. Like tied it to my wrestling matches. Right. Okay, cool. Your high school wrestling? My high school wrestling match. And so. Well, they went pretty deep on you, huh? Deep, deep. It was just fine. They're interviewing your ninth grade classmates? Actually earlier than that, it was like the seventh, it was like seventh and eighth grade. What? So by the way, I'm like, this is, this is kind of interesting because like, this is one of the only areas that the short sellers got it right. I mean, it's kind of sad to say, but the answer is I did lose all my wrestling matches.
53:50I'm sorry. I lost every one. But I don't know the reason why. You know, sometimes it'd be two days that I hadn't eaten. You know, so we had no money. We were broke. We lost everything. My dad sold his welder to pay for his money to get to Vegas to go work. I had no money. And it would be two days, sometimes three days I wouldn't eat. And I would maybe grab like a handful of cereal from a neighbor. And like that was my food. And like, and it was just a tough time. It wasn't like that for all of our life. It was just that time for a few years, really bad. And we lost everything. And like, I would go to wrestling matches and get my ass kicked.
54:23I mean, just bad, just get beat. And, but I didn't even have enough energy to even stand up. And so like, I was like, yeah, I like some friends asked me, is it true Trevor? Cause you're a fighter. I can't believe you're losing wrestling. Cause I'm a pretty scrappy guy. And, and I'm like, no, it's true. I lost every one. And they're like, really? And I'm like, yeah, but I hadn't eaten for two days, dude. my i was skin and bone i had nothing on me i was so exhausted tired my mom was dying wasn't mentally there i was like yeah i lost it they use it like what they do is they take these huge things they love and then they they roll it into like this whole entire short sale report about how you're this big fraud and um and it that story's important because like my family means more to me than anything in life it just makes you not want to have a publicly traded company.
55:09I love the public system. I hate the corruption that the government allows to exist around it. It allows people to actually be equal to other people. Like think about it, it allows an entrepreneur to go from zero to, you know, to creating incredible wealth for their employees. The problem is, is the government, the government figures out a way to destroy so many good people and profit the big people that are their friends, like the big banks and other people that are like making a billion off of every one they touch and then the law firm's making a hundred million dollars by encouraging chaos each one yeah so it's important to know why i do things like you know everyone one of the big lies that was set out was like oh trevor trevor left the company because he was uh you know because you know when when hindenburg hit i decided to step away from the company um what the public doesn't know they see the headlines the media the lies but they don't know the truth you know why why did i step away what was the reason for that um Um, my, uh, I had told the board, uh, uh, prior to when, when we went public, I told the board I was going to retire in December.
56:08So just a few months later, I was like, look guys, I've taken this company as far as I can. It's up to you guys to take it the rest of the way. And my wife is incredibly sick. She was, uh, and this, this interview is amazing because of the documentary comes out today. Finally, I've been working on this for almost a year. The documentary about Nikola and myself comes out is just is now live and everyone can see it on YouTube. but just launched so the handle is trevor milton but the title of the documentary is uh conviction or conspiracy and he's made to provoke the thought process is this guy was it a gigantic conspiracy or was it a true conviction and part of the documentary is not favorable to me i mean come bash it kind of you know you got to show both sides it's pretty pretty fair and we wanted to make sure it was fair but we also want to make sure the truth was out there and and so i had told the board i said look i'm gonna um i'm gonna step aside and um and your wife was sick my wife was actually dying at the time i thought she wasn't going to make it she was a a doctor had put the wrong person's blood plasma into my wife during a procedure oh gosh yeah she developed all kinds of diseases and i don't like to go over them publicly because it's not fair to her but like she developed a lot of diseases from what happened there and also autoimmune diseases she developed um diabetes instantly she went from a very healthy woman to a type one and type one one and a half diabetic to no longer being able to have children.
57:28Oh God. It was the worst thing you can imagine. And so I, she had been, she, she had taken a, a, a vac. She went to, we went to the emergency room. They gave her a, they gave her like a, some type of vaccine that was, that was there for, they thought that maybe she got, they wanted to make sure it was like, I don't know, I'm not a doctor, but they required it when we went to the ER and that put her into seizures. It just, it almost killed her. It was awful. It was like the most. so my wife was literally dying on her death but couldn't get out of her bed i was like i was like bathing her i actually couldn't get out of bed couldn't walk and all and then all of a sudden hinderberg hits and i'm like i can't stay here and fight all this when i got my company they all promised me everything would be fine that they would fight the government and they would expose the truth and work with me and they got me to sign these papers these lying scumbags and i they used my wife's death like or like on a verge of death in order to get me to sign papers because they wanted power and greed and control who's they the law firm the executives in the law firm yeah the law firm wanted it because they knew they couldn't control me but they could control the other people because they were idiots so they controlled them like little puppets but they would never they would have never gotten away with that with me i would never allow it so i decided to go help my wife and then what does hindenburg do they go out and they're celebrating like see trevor's he's a criminal he's a liar he he got thrown out of his company he resigned because of the disgrace hindenburg's true that's where you know so hindenburg used the department of justice the media and and my my my wife's my wife's sick illness too in order to make sure that they profited 30 to 100 million dollars or whatever did you ever meet anyone from hindenburg no i saw him i saw him at trial he came to my trial to rub it in my face like he just said he'd sit in the nate anderson did yeah they would like they they there was uh times when he came through the came through the trial.
59:15I think it was just intimidation is what I believe. But he never called you? You had no contact? No, never. Never even wanted to know the truth. Never wanted to have any comment on anything. He used people, like, one thing they did is they used a, they used, like, they would use recordings from people and then, like, and delete half them. So, Bloomberg did a, Bloomberg did a, an interview with me and they were, like, he asked me, he's like, oh, was the truck, they're trying to get me and catch me in like some kind of lie or fraud did i go was the truck real did it or or did you guys just you know push it down the you know did you guys push it down the hill or it was under its own power and i said i said no the truck was real but we didn't use its own power we just used it in a commercial and it we we let it roll down the hill for a cinematic effect and and and i told the truth right so what does it what does bloomberg do they come out with an article and they cut out my answer and the headline is is that trevor rolled the truck down the hill but they cut my answer out so in the criminal trial we got the judge to actually one thing the judge did fair to me one of the very few things was he actually forced um bloomberg to turn over the entire the entire recording and sure enough there it was me explaining that like oh no we never we never you know the truck wasn't under its own power it was it was you know we rolled it down the hill for cinematic effects and da da da da da so literally bloomberg deleted everything that showed i was innocent and hid it from the department of justice and bloomberg was working with the short seller with with nate anderson do you think bloomberg or cnbc took money from nate anderson i don't know don't know um i i if i don't think the company would be who knows i don't know i don't know i i do know that they're very close they're like best friends and nate and some of these guys at bloomberg and they work on every one of his projects they literally every one of the short sales they you see the same guys disclosing like launching massive attacks against people.
1:01:04So it's a coordinated effect. That is crazy. Yeah. That Bloomberg allows that. Unbelievable. We're actually suing, we're suing to CNBC right now because of the fact that, and Nate Anderson, but not, the hard part with Bloomberg is, is there's nothing, I can't sue him for deleting part of the recording and withholding it. There's no crime for lying about someone, unfortunately. Like it has to be a slander and it has to be like premeditated and it has to be slander. You have to prove that they knew it was a lie. We have it with CNBC easy, but we don't have it with Bloomberg. It's just they just did really awful, disgusting stuff.
1:01:39Well, the fact that media organizations, business networks are working with short sellers who profit from attacking people is just, I mean, so prima facie corrupt that you don't need to make a case beyond that. Just that fact alone is disgraceful. Yeah. And I didn't know it as low an opinion as I have the U.S. media having spent a lifetime in it. You're still shocking me. My opinion's even lower. They are criminals. Okay, so back to the playbook. The U.S. government, in conjunction with the media and the short sellers, ran on you. The first part of that, you said, was to separate you from everyone you knew and loved and trusted.
1:02:23And they did that. Yeah, and then they threatened the other guys. And then what they do from there is they get the company to, this is the third step is, is what they do is they, what they call control the environment. Control the environment is where they, where they come in and they, they sanitize and filter every interview. Where do you get your news? We'll tell you where we get ours in our private news briefing written by our guys in-house every single day. It is comprehensive. It's smart. It's honest. It's hilarious. It's the best. It's our private news briefing and you can read it too. You can also unlock access to TCN's entire library of documentaries.
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1:03:43So these employees came to me afterwards and told me about this. This is how after my trial, this is how I knew. So they threatened the employees. They said, you can't talk to Trevor, you'll get arrested, which is a lie. They could, they could talk to my attorneys, but the government threatened them. If they did, they would be turned on. so Kirkland would threaten the employees and essentially divide and conquer and then sit down and say okay they would interview an employee and they say all right you know here's our here's our nine steps on how to frame Trevor and they would go through it with the employee and they would tell the employee what they wanted to hear the employees like that's not accurate they're like okay well we're just gonna move on it is accurate but we're gonna move on and then they would and but they wouldn't take notes of it they wouldn't take notes of it so And when an employee would be like, oh no, Trevor didn't, like Trevor told the chief legal counsel this and the chief legal counsel signed off on this.
1:04:29And Kirkland was like, no, that's actually not how it happened, but it's okay. We're going to move on. And then they wouldn't write it down and they would just move on. So like, I had no idea an employee would actually tell this. Imagine this is Brady. Brady material means information that shows you're innocent or exculpatory. Kirkland and the company would sanitize all of it. And then what they did is they would, they would come up with a plan that they would come up with this report. and Kirkland came out with a whole report on me about how I was a fraud. They created this report fraudulently with all these partial employee comments where they sanitized everything out of it that showed I was innocent.
1:05:01And the government wanted it because they wanted to guarantee they would use that as part of their indictment and use it as part of the SEC coming after me. It's just crazy. The whole thing is planned out. It's just bonkers. So what kind of penalty were you facing at trial? 64 years is what the government asked. Oh, God, sorry. 64 years in prison. 64 years in prison, I think is what the number was that they asked for. How old were you at the time? I was like 40. Right. So you'd be 104 when you got out. Yeah, I'd be dead, yeah. So you're facing a life in prison. Life in prison for tweeting, by the way.
1:05:33Remember, this is important to know. Even one day in prison is the worst thing you can do to a human that's innocent because it destroys their life, their freedom, their liberty, their family, their name. It's irreparable. There's probably been a quarter million negative articles written about me because they just follow what the government says. So a great example is when the government came out, the US attorney, Audrey Strauss came out and this is the crazy thing. They convict me for misunderstanding my tweet, right? Because they say it affected the market. So here's the crazy part. Audrey Strauss comes out.
1:06:04She stands in front of the whole world and she says, Trevor Milton is a liar, a fraud. This is where the rubber meets the pavement. He created a truck that was nothing more than a Ford truck with his own badge on it. It wasn't even real, it was fake everything. That was categorically 100 % false. So the market collapses on Euclid. So this market manipulation, they should indict her like they indicted me because she actually caused massive market collapse when she had the resources at her hands to know that what she was saying was fake, but she didn't care. You know why? She can just like, oh, well, maybe we misrepresented it a little bit.
1:06:42No, they destroyed the company. The Department of Justice destroyed$34 billion in value. And she is responsible. The US attorney came out, literally lied to the entire market. Like it's provable. The Nikola, the pickup, one of the other trucks we did, the pickup truck, was a Nikola truck, Nikola frame, Nikola e-axle, Nikola battery that we were working on. All of our own suspension designs, our own exterior panels, everything. All that design was ours. We used like a couple pieces from other OEMs, which every OEM in the world does. and she came out and said it was literally just destroyed. When she came out and said that, the whole entire company at that point was known as a fraud.
1:07:19It's one of the wildest interviews I've ever done. And I hope people understand the importance of it because what it shows is that there's a shocking level of coordination between major institutions in our society that are not supposed to be coordinating with each other and that it's on behalf of what is, in my view, a criminal enterprise short selling. here's where it gets really like, okay. So now we've had all the, I agree. And now we've had all this fun talking about this. And here's like the, here's the cherry on top. Here's the cherry on top. This just shows you how corrupt it is. So I didn't know this was going down.
1:07:58This was completely, I did not know this was going down in the background. Okay. So after everything I'm telling you, I'm sitting there, I get a call from my attorney and he says, Trevor, I need you to answer me something honestly and if you lie to me i'll never represent you you need to be 100 truthful to me right now and i'm like what i've never lied to you what are you talking about why would you even phrase it that way what's what's going on dude what the hell else is going on that i don't know about and he says trevor are you a russian asset i thought you were like a mormon kid from Kanab, Utah.
1:08:35I was a very innocent, naive Mormon kid from Kanab, Utah. I had met one Russian in my lifetime up to that point, and she was a male lady. She was really nice. Like at the post office? Yeah, the post office. She worked for the post office. Are you a Russian asset? I had never been to Russia. I had never met a Russian in my life up to that point. No big deal. I mean, there's probably lots of great people. I mean, it's probably good and bad, just like every country. Yeah. I, I, and I was like, what the fuck are you talking about? I'm sorry for the language. Sorry for the language. Everyone. I was justified.
1:09:11My job. I had no clue. I'm like, what are you talking about? They're like, did you hack Nate Anderson and the department of justice? What the fuck are you talking about? I don't even know how to hack dude. I'm not a hacker, not a Russian asset. Dude. I have to go to my engineers to ask him simple questions for, because that's how I learned. Like, I don't know how to do it. Like, I'm not the expert when it comes to like, you get in super advanced chemical engineering. I'm not the expert. I have my engineers teach me. I don't know how to hack a government system. Good fuck, dude. So I was, that was the line of questioning right up front.
1:09:45And I said, why? And they said, there's a meeting before the judge. The Department of Justice is alleging that you're a Russian asset. And that you've been hacking their systems and Nate Anderson. and they essentially want to take you to jail, like pre-trial. Like they want to just throw me in prison for this. I don't know what the fuck you're talking about. He's like, you've never emailed anyone ever to get information from, to like try to get into the system of Hindenburg or the United States government. No, you've never talked to anyone ever. No, you never asked someone to talk to someone else about it.
1:10:19No, don't even know what the fuck you're talking about. So guess what happened? Nate Anderson before trial wanted to stoke the fear of the United States, get the government so mad at me that I have no ability to have a fair trial. Remember, they're profiting off of the failure of me every step of the way. So every month they would make another however many millions of dollars, millions of dollars, millions of dollars. As your stock price declines. As the stock price declines, negative news comes out. They had to make sure that I was convicted. Their entire life and identity was on this. From what we hear, and I have to say, this is only from what I know.
1:10:53I don't know all the details. I just know a lot of them. But from what I know, So Nate Anderson reached out to his buddies in the Department of Justice, the prosecutors that he fed the report to, and told them that some Russian asset was trying to hack him and the government and get information, and that it was me. And the Department of Justice fell for it hook, lying, and sinker. They go to the judge, they tell the judge, and they set up a FBI sting. I've never told any, this is breaking here. An FBI sting. in New York City. Supposedly I'm behind it. They're going to nab me and my Russian asset.
1:11:35They set it up. Nate Anderson or a lookalike. I heard it was a lookalike. It was a guy dressed up as Nate Anderson. He was in the FBI or away. They didn't want to risk his life. They got to protect him. A personal lookalike was there. This Russian person shows up. realizes it's not Nate or whatever and fucking takes off. Hits an FBI vehicle, from what I hear. And by the way, this is all filmed. The FBI has it. These fuckers, I'm sorry, these people have it. I don't have access to it. I've seen, I've heard about it and my attorneys have seen it. They fucking filmed this thing. They actually, because they were going to use it to go to the judge and throw me in prison.
1:12:14If Nate Anderson is texting federal prosecutors, that right there should trigger a criminal investigation. It should. If that's true. I mean, I'm hearing this from you. If it's true. From what I know, that's the thing. That's where I have all the evidence from what has been told to me, from my attorneys, from what I've seen. I was standing there one day when one of the prosecutors had to show me a message because for disclosure reasons, they literally had to show me their phone and say, hey, we just have to show you this message because it came into us. They had to show it. It was like, so this is how I know that.
1:12:46And what was the message? Who was the message from? It was a message about me fleeing the country. Who was it from? one of their friends that was involved in this whole scheme, and I couldn't tell you who it was. I couldn't write their number down in research. It was in the prosecutor's cell phone, their fucking cell phone. It's insane that these guys have got - So they, meaning likely the short sellers, were telling federal prosecutors that you were a flight risk in order to encourage them to put you in - And a Russian asset. And a Russian asset. They wanted me in prison. They did not, they had to do it because they needed to make the judge think I was guilty.
1:13:23So remember they had approached the, the judge sees all this shit. So the judge is thinking I'm the biggest scum on earth. You know how it is like the liberal, like the very far left in New York, where do they hate more than anything? Russian assets. They, I mean, it was Trump 101. Trump's a Russian asset. They use that to stoke the anger to the judge to fuck my life and my, my trial, knowing that they're going to make another 10, 20,$30 million on it. That is just crazy. I lost almost everything I have in my life because of this. I lost 80 million in attorney fees, billions of dollars in losses on my stock.
1:14:01Innocent investors lost billions of dollars out there potentially in different ways because of the decline of the stock value, because of the misconduct of the Department of Justice. And then they blamed it on me. And there's been 200 ,000 articles out there about how I was the cause of this. And now the truth gets out. This is why I'm so excited to finally think, and I use his name so sacredly because I'm a religious person. And I use this in the most sacred, most amazing way I ever can. And like respectful and reverent way, like thank my God for stepping in and allowing Donald Trump to see my story because he issued me a full and unconditional pardon days before the government was going to seize every asset I ever owned.
1:14:49And that's all. If it was not for Donald Trump, I would be destroyed. And it was the same people that came after him, came after me. And when he saw this, he was like, this is a huge abomination. I can't stand for it. I don't care what the articles say. I don't care what the short seller narrative is. This is wrong and I don't stand for it. And that's one thing I love about Donald Trump. He does not stand for something when he thinks it's wrong. He doesn't give a shit who is going to attack him. He knew there was going to be blowback. He didn't care. I don't care. I do what's right. This is, and he is a man, like he has got a spine.
1:15:23He's a real man. He's a true man. He's not a cow. He's not, he literally stood up to the media. They said, why'd you pardon Trevor Milton? And because they were trying to, you know, get in, like, make him look bad. And he said, he stood there and said, they destroyed five years of this man's life. trevor did nothing wrong they're evil people yes and that was his statement to the press live on the fly and he and that was if it wasn't for donald trump i'd be screwed they had filed to seize 690 million dollars or something like that from me they were days away from taking everything i was sending you to prison and then sending me to prison just weeks or months later I've been, my goal in this life now has been to try to figure out a way to help Trump reform the criminal justice system because there's four or five things I could do and I can lay them out real quick that will change the entire justice system.
1:16:18I think it's important to tell the world what it is. This would be, these would be like, because you know, you can go into thousands of things. I only care about four or five things because it'll 80 to 90 % of prosecutions, wrong prosecutions would go away instantaneously. Number one is the Department of Justice should never be allowed to talk to anyone unless it's a recorded call. I totally agree. That's number one. They should never be allowed to talk to an attorney. Cops have beat cops who are making 50 grand a year and risking their life every day in the worst places in the United States have to wear a chest camera.
1:16:48But FBI agents don't? No. So here's the problem. Here's the problem. They coerce and they lie and they destroy people and they destroy evidence. So the number one thing they should be is every call, every personal visit, everything should be on camera. Certainly every interview. Every interview as well. May I ask you a dumb question? Are you allowed to whip out your iPhone and record the interview? I believe you are if you're being interviewed. That person is, but the person wouldn't know. The employee would never know that. They're never told. But they should force the Department of Justice to do it, so that way it's turned over in discovery.
1:17:21That should be part of their discovery obligations. Number one is every single interview or communication with any counsel, any attorney, or anyone working on the case or instructed to work on the case, it should be a recorded call or video, number one. Number two is if you indict someone, the person, the defendant should be able to choose the venue. This is a really important one. Because what they did is they, I had no connections to New York. We filed a motion. You're not a native New Yorker. No, I've never, I didn't own a property. I had passed through New York on a flight one time overseas.
1:17:56I've been to Kennedy Airport once. I was, I had been interviewed one time, one time early on about an equal in New York. And it was, it had nothing to do with the allegations of the government claim. For a media interview. Yeah, for a media interview. So if you look at my whole history, everything the government alleged happened, happened in Arizona and Utah, not in New York. So we filed a motion with the judge and we said, your honor, this is the wrong venue. I'm guaranteed by the constitution. It's actually one of the reasons why America exists is because they used to drag the founding fathers across sometimes the ocean, sometimes into other cities and states, and they would prosecute them with people that hated them.
1:18:31There's one reason why our founding fathers created the venue clause. and that is that was for me was one of the most was was very sacred may i ask how did the case wind up in new york city if you had no connection to new york city that's the whole scam was the company chartered in new york city well no they said well so the prosecutors claimed that it was because we were the the were publicly traded on the new york stock exchange that they could drag me to new york so my con somehow the company's organization would bring my personal venue into underneath the company, which is crazy. That doesn't happen.
1:19:06Number two is, so we filed this motion with the judge and we said, your honor, Trevor doesn't have any connections to New York. This shouldn't even be here. It should be in Arizona, Utah. They would never try it in Arizona, Utah, ever. But because your stock was traded in New York. Yeah, but here's the funny part. It's actually traded on the internet. It's traded, well, yeah. So they say it passes through, it's traded through New York. But you know, the funny thing is, we told the judge, we're like, your honor, even that argument's wrong. And he says, why is that? Why is that? It's a New York Stock Exchange.
1:19:29He says, your honor, the servers are in New Jersey. Well, there is no New York Stock Exchange anymore. I mean, the whole thing is stupid. There's a bunch of guys in coats with slips of paper trading stocks. No, it's taking place digitally. So what that means is that if you took away the venue clause in the Constitution, then the rights that we've been given, the venue is one of the most powerful clauses ever given. And it was made to prevent people from dragging people into other venues where they could get destroyed. So here's the important thing, though, real quick. the prosecutors claimed that because something passed through New York somehow digitally that it allows him to prosecute me in New York.
1:20:08If that's the case you might as well get rid of every district in America. It should only be Southern District because that allows him to pull anyone they want from California, from Portland, from Texas and charge them in New York just because the internet goes through New York or some kind of thing like that. That's the problem is it would destroy every venue in America. So did you have to move to New York? I did. You moved to New York? I had to move there the entire time in trial. How long was that? How long were you in New York? I mean, we bought a house there for the whole trial. It was awful.
1:20:39It was terrible. It was for the trial. And we were there. The trial took, I mean, the pre-trial and trial was over a couple years. So you moved to New York for a couple years? No, I wasn't there the full time. I'd still go back and forth. But yeah, I was there for a little over a year. I mean, at least probably a year in and out all the time. What did you think of the jury pool? That was hard. And this is why the government tries people in New York. So the jury pool in my trial was, this is why they rubber stamp convictions in New York. This is how it works. In Utah and Arizona, the jury would, the people actually feel like it's a very patriotic thing to serve on the jury.
1:21:18And they want to make sure that no innocent person goes to prison. This is why they wouldn't try me in Arizona or Utah. They would, the prosecutors would have been laughed out of the courtroom and probably sanctioned by the judge for their conduct. But in New York, the judges cover for them. They can do whatever they want. There's never a prosecutor that's ever reprimanded for anything in New York ever. Shit, in Utah, just barely, the chief justice in Utah called the SEC in, essentially told them that they had committed crimes, shut down the entire SEC division in Utah over this because the SEC lied to the judge one time.
1:21:51The prosecutors lied to the judge hundreds of times in my trial the judge literally threw the entire criminal Case out against a guy because the prosecutors misled the judge one time They out there. They actually give a shit about the rule of law In new york they don't so what do they do in new york? How does it work? They bring you in And they have this huge jury pool um New york is um Is The people in my jury pool that ended up through process of attrition, which is guaranteed every time. Almost every one of them, none of them had, very few of them had any type of job. Most of them were on government subsidies and welfare.
1:22:29Actually? Yeah. The people that did have jobs, like there was one guy that came through that was a plumber, an electrician, and I was begging, I was like, please, like stay on my journey. They didn't have jobs or on welfare? Some of them. Some of them. Not all of them. This is the jury of your peers you promised? So, one of the guys was like, was a small business guy I'm like, oh, please, for the love, stay on my journey. And he's like, and the prosecutor's like, your honor, this jury, this trial could take up to four months. The business guy's like, I can't be away from my business for four months.
1:23:01I'll lose it. I'm sorry, I can't be here. So the guy who's actually run a company that's like, would be a peer, one person left. So the other guys make it, you know, the other people, they're making six, eight bucks an hour, 10 bucks an hour, whatever, getting welfare, getting welfare checks, retired, don't even work anymore. they're like really old people we had we had we had a couple of them that slept through the whole trial they're so old they just slept they didn't even they weren't even awake we one of them was and then what we found the crazy part is so during this void dire you know they call void dire where they where they interview the jurors there's this one juror and this juror had um she was a younger um african-american female and most of my jury was was was was uh was other races they were not why it was most of it was all um i think that might have only had one white person on our jury i'll have to look but it was almost all a different race which is fine but you know you would think normally but in this situation it wasn't um so this this juror had and during questionnaires we asked the juror do you have social media no i don't do you social media no i don't do you where do you get your news from um i get it from youtube okay all right cool sounds good um any prior convictions no no no okay cool whatever so there was nothing on her and we asked the judge if we could research these jurors to make sure that the jurors weren't lying she was like yeah no problem you can research you know so we the person said they never had social media never had do you have anything against rich people or white people that would that would affect your ability to be fair no no your honor okay so cool we put her in a pool of like potentially just acceptable people because they didn't meet any qualifications to be disregarded or just just um you know essentially thrown out.
1:24:39And so long story short is that we go into the trial. Most of my jury is. And she's on the jury. She's on the jury. There was, I had one good juror. I had one good juror and it was a, it was an, it was a Hispanic lady and she was awesome. She ultimately went along with the rest, but she was, she was actually, she was the only one that had any sense of, of soul in her, her heart in her that was like, Hey, this might be wrong guys. She was a really great woman. And I think she was bulldozed by everybody. She had, she, but I'll go through this. This African-American girl lied to the judge, lied to us.
1:25:07My trial happens. I get convicted. And she goes out and she starts speaking to the jury. I mean, speaking to the media. We're like, what the fuck? And so she starts speaking to the media. She gets interviewed by the media. And the media asks her questions. And they're really weird. And we start researching her. And we find multiple social media accounts that she owned through investigative ways that she never disclosed to the judge or us. and right before my trial, guess what her New Year's resolution was? What? To abolish, quote, abolish the billionaire class, end of quote. That's unbelievable.
1:25:50Her New Year's resolution was to abolish the class of the human that she was on the trial for. Imagine this. Imagine if there was a trial with a young Hispanic kid or a young black kid and there was a white supremacist on the trial and his New Year's resolution was to abolish the African-American culture or class or abolish the Hispanic class. Can you imagine how quick that fucking trial would be thrown out? What, did she express any racial views? Yeah, lots of stuff against white people, wealthy people. Everything was a class warfare against wealthy white people. Like explicitly against whites?
1:26:28Everyone except for Elon Musk, which was her hero. So she was like, implant my brain with your neural link, Elon. Like she was like a, she was an Elon lover. Blamp my brain with your neural link. That's what she said. She actually tweeted that. Yeah, she tweeted it. But she hates whites otherwise. She hates whites otherwise. I think it's because he's South African or something. But like, the point is, she absolutely was like, her whole thing was like. And she served on the jury and voted for your conviction. Not only served, she was the head of the, she took full control of the jury. She even admitted it.
1:27:02So it was. Why wasn't, why wasn't the conviction thrown out on the basis? Oh, it even gets worse already. So one last thing I'll say. So when she went out and interviewed with the media, they were like, they're like, oh, why didn't you, you know, like what about this, this and this? They asked her questions about something. She's like, well, we didn't want to have an alternate come in because we knew he'd be found innocent.
1:27:21She actually said that I would be found innocent. Why didn't you flee the country? No, seriously. I wanted to stand. this is a joke. Everything about this is fake. Like there's no reference point in justice here at all or truth. And I know it's your country and you love the country. I feel the same way. But like if you're sitting before a jury of racists who hate you for being white and rich and say so and lie, you're going to do life in prison. Life in prison. They asked for 64 years. So did you consider fleeing the country? No, I never did. Mainly because like I grew up in a really small farm town.
1:27:59As I said, my dad was very patriotic. um is still but like we know the problems in the in the government we hope we can fix them but the point was is there's something very very brave and very like patriotic and very like manly about standing up knowing you're going to be assassinated and look at them in your eye and just saying fuck you that was my my best thing i could do is look at them and through the eyes and i looked at the jury and i said you know one day you're going to stand before god and oh how the hell you're going to pay because they're going to realize that they, that they like, so the one juror was like, oh, we didn't want him.
1:28:33We didn't want an alternate because they were going to exclude someone. They're like, we didn't want an alternate because he would have been found innocent. She's like, I couldn't stay. So I just decided we need to have this done by 5 PM so I could go home. So she like, literally is just like, well, I have to be home by 5 PM. So we're going to convict him. We're not even going to look at the jury and start away the stuff. We're just going to, let's just, let's just go home. And she like, she was, she was bragging about convicting, convicting me, putting me in prison by 5 p.m. And it was her lifelong goal.
1:28:58And then she went and bragged about it to the media because she wanted a big payday. It was just sick, dude. It's sick. And there's something about like, I feel like God, like Christ, if you believe in God, allegedly what they believe is that he died on a cross. He didn't die because he didn't die on that cross because he was forced to. He did it willingly. and it's the greatest sign of a man is to look at the people that are evil in their eye why they hurt them or murder them and look them in the eye and just say you don't know and one day you will and it'll be pain the pain will be deep and I can promise you like if God does exist when they meet their maker the pain they caused me and the lies that they what they did to me through their hatred towards wealth and race and everything else and whatever other reason they will have to pay a price greater than what I paid over my five years of hell.
1:29:55Because that's the only way you can truly atone for something is you have to pay for what you did. And then God can forget about it. But their pain is going to be incredible. And I don't wish that on them, but the growth that's required requires that. And so they will have to go through it. And that's why I'm so afraid of ever doing anything wrong to anyone. It's why I give so much away. It's why I love, I give 70 % of my company away. The judge wouldn't let me talk about that at trial. So they could say that I somehow, I was like, Like, oh, I was lying. I was defrauding the, you know, defrauding shareholders.
1:30:24I like lied about something in a tweet when it was a misunderstanding. But like, they just didn't understand how I was explaining it. But if I was really trying to pump the stock and defraud people, wouldn't I have not given 70 % of, I mean, I'm talking 10 billion plus dollars away. Why would I keep such a small amount for me? Why wouldn't I keep it all? No, I gave it all away. But somehow I'm a fraud. it was just it's just it it's that's america talk that's where we're at now and that's this is the first time i've ever exposed it and first time i've ever come clean about like what really happened and what went down and it's uh it and i'm just really great i'm really proud how did your wife take this uh not well yeah yeah i bet she still struggles to this day because with her with her illnesses and sicknesses stress is like the number one factor for diabetics and for autoimmune diseases.
1:31:19That's what flares up the histamine reactions and everything. And her stress level, like there was days where I thought we were both gonna probably just wake up, like God would just be kind to us and just let us like die in our sleep. Like I was like, you know, that'd be the greatest way to go. I was like, you know, that'd be wonderful to like just wake up and I'm in heaven with her. That'd be rad. Like my heart hurt so bad and tore so hard. I was like, I can't, I could never imagine hurting. Like I've come from a life of service. I lived in Brazil when I was a kid. I did a service mission in the favelas.
1:31:51I taught people English. I taught people about God for a period of time. I've given almost everything away to my employees. I gave everything away to other people. I never pass up a, you can ask anyone you ever meet that knows me. I'll never pass anyone up on the street unless it's like a dangerous position where I won't stop and help a person. It's been my, it's who I was raised from the time I was a kid. as a true patriot, as a lover, like just wanting to see people happy. I want to see when I meet my maker, I want him to say, you know, Trevor, you stopped 23 ,000 times in your life to help my, help me help my, my children, the people that I, that I, that I made.
1:32:27And they were never grateful for it, but I am. And that's what I wanted. I wanted that feel. I wanted to know when I met my maker that I was like, you know what? I, I never passed someone up that needed help. And that's why I was so grateful for President Trump. He was the first person, there was other people there that helped as well, but he was the first person that was publicly able to, you know, that was able and willing to stand up and do what's right regardless of the consequence and thank my God for President Donald Trump, because I'd be in prison, everything would be ripped away and my wife would probably be dead.
1:33:00And that's how evil these prosecutors are. And I hope they go to, I hope they hear this and I hope they understand the damage they do to people because they have to meet their maker one day and they can't excuse it of like, oh, it's just my job. God doesn't care if it was your job. Was it your job to throw, not comparing equals here, but was it your job to throw the Jews in the oven? He doesn't care if it's your job. He cares what, you cannot excuse your behavior on your job. And I'm telling you right now, dude, like I'm halfway through my life right now. And I don't think America has much more in the future.
1:33:32I think we got maybe 10 years left in us. probably so if I really think about it I probably have 10 years left in my life because I think we're going to end up in a world of hurt and most of us are going to be most of us are going to be affected negatively and I look at it I'm like I'm pretty close to meeting my maker right now and I'm really glad I'm really proud like I can look at my maker in the eyes and I can say I like I did nothing but love people and help them and give everything I could and I never lied I never defrauded these guys these short sellers and the prosecutors they all just lied and they just spread it and they have their power.
1:34:05They have layers, like nine layers, just deep everywhere. And they back it up because, oh, well, the media said this. Oh, well, Bloomberg said this. Oh, CNBC said this. And the thing I didn't tell you about, and I kind of missed it in that timeline was, is that Hindenburg worked with a group called, within CNBC called American Greed. And they launched this massive - American Greed's a show. A show. Yeah. Massive, disgusting show about me. That was all lies. The entire thing was lies. They launched it during my jury deliberation to guarantee. So if you think about this, these... Wait, are you sure that Nate Anderson and Hindenburg worked with CNBC on that show?
1:34:42A hundred percent. It's actually, it's in all the lawsuit proven to the judges. It just passed a motion to dismiss. How could CNBC work with a short seller to defame or attack, in any case, a company the short seller was profiting from the decline of? During my jury deliberations, knowing the jury members would go home because they're all social media watchers they all watch this shit every show that comes out people watch they're all bingers watch it too think about it during the jury deliberations and it's it's a hundred percent factual that they uh that that hindenburg was working with with uh american greed it's part of the big lawsuits a billion dollar lawsuit against them i hope you put them under i hope i i hope they have to pay i don't know if the court systems are honorable enough to make them pay but i hope they do it's bad i mean The best thing would be is the Department of Justice to actually open a full investigation on the prosecutors, the process, what happened, Hindenburg, what they did, who was paying the money, who they, you know, did they trade on this information, which we have high beliefs that they did.
1:35:45We know it. Well, I mean, obviously they traded on it. So if they did this, that would be the greatest, that would be the best thing that could happen to America is for them to actually restore trust in the justice system to realize, you know what? We're not going to stand for prosecutors fucking around with short-sighted people committing crimes. we're not going to stand for it. And if you are, you're gone. And you're prosecuted too. Not just gone, but prosecuted. And that would be the best way to restore faith in the American system because it's gone right now. How did you find out you were getting a pardon?
1:36:16I got a call on, so this is crazy. I was actually like, my world was over at this time. I had finally come to the conclusion. I had finally resigned mentally that it was done. When was this? Beginning of April. I think it was. april beginning of april was march sorry i'm sorry it was beginning i'm sorry it was a beginning it was about the beginning of march i heard you thanks baby i appreciate it she's just like marsh i'm like okay march sorry your wife is a very good memory for dates and names i noticed i noticed that last night yes she remembers everything it's good um and so sometime around the beginning of in march i got it i got a call on my phone and it pulled up and i screenshotted just the just the caller id number because i was like it was like so interesting it was it said it said um executive office of the president of the united states and i was like i'm either getting trolled like straight troll like they're gonna impersonate him with ai i'm getting full on set up here but i was like i gotta answer this when i answered it and they're like hey this is this is trevor milton i said yeah and then this is the executive office of the president united states so and so and mr president president trump would like to speak with you do you have a minute and I was like yeah absolutely and I'd that'd be great and I go on hold and I'm gonna hold for probably like three minutes and I'm like this is really scary because I truly thought it was like a full setup and um and all of a sudden it was the president comes on the line he's you know is this Trevor and I said yeah and he says Trevor how you doing today and I said not too great Mr.
1:37:46President but I'm alive still and that's you know it's all you can do is just keep fighting and he says you're you're so true trevor so true and he says well you're gonna have a you have a better day after this and i just wanted to tell you and i said said yeah and why and i said why is that and he says um he says well um trevor i've heard your story and um uh what they did to you was evil and disgusting it was wrong on every level and i'm going to issue you a full and unconditional pardon. The highest pardon a president can give a human is a full and unconditional. And I'm going to give, I'm going to issue you a pardon.
1:38:24You don't deserve what you've been through. I'm so sorry. And, uh, and he says, you're clean, you're cleaner than a baby's bottom. And, um, it was a very, very like, and I didn't know how to take it. I'm like, I don't even, here I am. Like I had, I'd finally given up, finally resigned mentally. It's five years. I was just like, I just didn't have anything left in me i was just over and any and that was when i got the call on it and it was like it was so incredibly because i like i realized that sometimes in this life you don't get the help until you have nothing left to give and it was at that moment and he and he stepped in for what reason i you know i i know the reason because it was wrong but like most politicians don't have bravery to do the right thing they always do the wrong thing and and then he says i'll be in touch soon and uh and he says the team he's like just want to let you know he's like uh you know i'll be in touch soon so two and a half three weeks go by so what what did you do in the meantime did you tell your lawyer i told my i told my parent my dad and i told my brothers and my sisters and i told my lawyers and i made sure that like i was like listen guys this cannot get out this is the highest level secrecy do not mention this to anybody and my attorneys actually were like didn't know how to take it they're like are you um you know trevor they're like do you have a do you have a piece of paper that signed and in that moment i realized oh shit i don't like i'm like uh no i don't then they're like then it didn't happen and it doesn't matter and there's a million things that can go wrong from now until then or if it even you know who you know like i'm not questioning you because we like you and we trust you but this is a little like you got to understand it's very rare to get a pardon and i said i i've never lied to you guys before and i'm I'm not lying to you now.
1:40:06I was like, my wife was here. She listened to the whole thing. And they're like, all right, well, we'll see. Two to three weeks goes by and nothing. And I'm like, terrified. I'm like, great. Someone got to him. Someone made him think I was the evil man that the press said. Made him think what the short sellers believe. And next thing you know, I'm sitting there on an architecture. And meanwhile, the government's looming over you to seize all your assets and put you in jail. They did. I was three. I was a few days late on a filing because it was like all my, it was an asset to seize all my assets.
1:40:37It was a filing to seize all my assets. They asked my judge to allow him to take$660 million from me when they couldn't prove a single dollar had ever been lost or anything that like I had nothing wrong. So that's part of reform. When you'll talk about that, that's one of the things in reform needs to be the true, it needs to be not what the government just says that you like has to be true. Like show me someone who invested on my comment when they made it and how much they lost. They couldn't find one person that ever did ever. They searched every investor that ever invested in Nikola. They could never find one person that said they invested based upon the comments that they took me to trial for.
1:41:14And what was the losses from that? None. Zero. So it was a 660 million and we were a few days late on our filing. And, um, we, uh, and then all of a sudden I'm on the, I'm on a call with our architects and attorneys and Chelsea, Chelsea, uh, like all of a sudden I get a call. and it was a Florida number. And I was like, okay, I better take this. I usually don't answer calls that I don't know numbers from because I get so much spam, but it was a Florida number. And I thought, okay, maybe. And it comes online, Trevor? Yeah, Trevor, it's President Trump. How you doing? And I said, I'm doing okay, Mr.
1:41:52President. And he says, oh, he says, boy, are you going to be doing better today? He says, I wanted to let you know that I'm sitting in front of your pardon right now and I'm about to sign it. and but i wanted you on the phone when i signed it
1:42:08and it was and and then he said something to me that was really the most powerful thing i've ever heard probably in my life and he says i'm doing something for you that they that they they never did for me and it was one of the most deals like that they no one can do for me like that except for him he may be the only person that can ever do it for himself but you know as a president whatever those constitutional powers are but essentially what he told me in that moment was i almost broke down bawling in this because it was it was like out of everything that's what i took more powerfully than anything is that trevor i'm giving you something that i've long wished i could have been given and i can't no one did it for me but i'm doing it for you and i almost busted down because it was really like a religious moment for me.
1:42:59It was a moment of like, of like where I felt like God was sometimes like, that's the moment where God was like, I didn't do anything, but I had to let the evil man of the world murder me and hang me on a cross and suffer for days beyond any human could ever comprehend. And I had to do it because you couldn't do it for me. And like, fuck, that was like, that was like, that was a moment that like, I had never imagined the power of a man's words in my life ever hit me like that. And it was when Trump told me, I'm doing something for you that no one could do for me. And it was like, it hurt my heart.
1:43:35Like it hurt me to like, think about like what he went through and what Trump's been through and like what they're doing and they, and no one could come in and do that for him. And I was like, this guy's a, a human beyond measure. The media loves to make him out to be a villain. He is, he is so human. So fucking amazing like i i i straight up i would die for him dude in two seconds i'd take i'd i'd take a bullet in one second for him like he he he's that good of a man and like i'm like i just it was it was so special dude my wife was crying like i was crying it was just like it was just like he and he he did it he called me he wanted to make sure i heard his pin he put the phone you could hear his pen up and down and up and down and up and down, up and down.
1:44:24Like he has, you know, 20 peaks and valleys in his signature and it's so beautiful. And, uh, and he says, Trevor, we, everyone here loves you. You don't deserve this. I'm so sorry. And he says, he says, go tell the whole world. You should be proud of this. Go tell the whole world. And I said, you're okay. If I tell, if I, if I talk about it, it's just, I expect you to. And I was like, what a what a what a man like i think we forgot what men are like it's i feel like society has dumbed men down to nothing to almost no no heroism anymore no no no greatness no spine no no character no nothing and i'm like this is what our founding fathers were like like the guy is willing to give up his life everything and he's willing to save someone who's who means nothing to him i meant nothing to trump i mean other than the story other than he was wrong but like he didn't he he you know i wasn't uh i wasn't a lifelong friend of his he did this because it was wrong the what they did to me was wrong and so he he did this because he wanted to write a wrong and that's as godlike as they make in this world and i'm i'm damn proud i i have that i have that that pardon on my desk and i'm blowing it up and i'm putting it on my wallet my in my hanger and i'm gonna blow it up to 30 feet high.
1:45:36And I'm going to wear it with a badge of honor for my entire life. And I'll go down and I'll go down and die for that dude. It doesn't matter. He deserves it. He's earned it. I can't thank you enough for the interview. Thank you. Trevor Milton. Congrats. Thanks, Tucker.
1:45:57We want to thank you for watching us on Spotify, a company that we use every day. We know the people who run it, good people. While you're here, do us a favor, hit follow and tap the bell so you never miss an episode. We have real conversations, news, things that actually matter. Telling the truth always. You will not miss it if you follow us on Spotify and hit the bell. We appreciate it. Thanks for watching.
From the publisher
How Wall Street short sellers worked with the media and federal prosecutors to destroy Trevor Milton’s company and put him in jail for life. This is a shocking story.
(00:00) The Origins of Milton’s Hydrogen Truck Company Nikola
(05:17) What Is a Hydrogen Motor?
(08:34) Milton’s Attempt to Displace Oil Companies
(13:12) The Problem With America’s Energy Grid
(20:32) The Lie That Destroyed Milton’s Life
(35:16) How Much Did They Profit From Milton’s Destruction?
Trevor Milton has been at the forefront of revolutionizing the transportation industry, particularly in clean energy and zero-emissions vehicles. He was the founder and former CEO of Nikola Corporation. Nikola was the leader and the first to manufacture and produce a hydrogen-electric semi-truck in the United States.
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