The founder of Phoenix-based truckmaker Nikola Corp. was pardoned by President Trump this week after serving about a year in prison for securities fraud.

The founder of an electric car start-up sentenced to prison for exaggerating the potential of his technology has been pardoned by President Donald Trump, potentially wiping out hundreds of millions of dollars in restitution that prosecutors were seeking for bamboozled investors.

President Trump pardoned Nikola founder Trevor Milton, who had been convicted of fraud in federal court for what prosecutors said were his lies to investors about his zero-emissions trucks. Milton said Thursday he had received the pardon,