US EditionSEC Drops Carlos Watson Fraud Case After Trump Axed Prison Term
- The Securities and Exchange Commission dismissed civil enforcement cases against Devon Archer, Carlos Watson, and Trevor Milton after President Donald Trump granted them clemency, as reported by the New York Times.
- Carlos Watson was accused of lying about revenue and business relationships to attract investments. He was ordered to pay about $37 million in restitution.
- Devon Archer was convicted of fraud and had a restitution order of $43.4 million.
- Trevor Milton was charged with securities fraud and wire fraud over false claims about Nikola's products. He was ordered to pay $168 million in restitution to defrauded investors.
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SEC: Won’t Recover Funds From Trump Clemency Cases
The Securities and Exchange Commission this week dismissed civil enforcement cases against Hunter Biden’s former business partner Devon Archer, Carlos Watson, the co-founder of now-defunct Ozy Media Inc., and Nikola founder Trevor Milton after President Donald Trump granted each clemency, reported the New York Times. Archer and Biden co-founded or co-ran several entities, including Rosemont Seneca Partners and were both on the board of Burisma H…
SEC: Won't Recover Funds From Trump Clemency Cases
The Securities and Exchange Commission this week dismissed civil enforcement cases against Hunter Biden's former business partner Devon Archer, Carlos Watson, the co-founder of now-defunct Ozy Media Inc., and Nikola founder Trevor Milton after President Donald Trump granted...
SEC Drops Cases Against Businessmen Granted Clemency by Trump
Joint stipulations of dismissal were filed in Manhattan and Brooklyn federal courts in the SEC’s long-pending enforcement cases against Devon Archer, Trevor Milton and Carlos Watson Jr. Archer and Milton have received presidential pardons and Watson's sentence was commuted.
SEC Drops Carlos Watson Fraud Case After Trump Axed Prison Term
The US Securities and Exchange Commission is dropping its fraud case against Carlos Watson Jr., the co-founder of now-defunct Ozy Media Inc. who was spared by President Donald Trump from an almost 10-year prison term after he was convicted of lying to investors in the digital startup.
SEC Drops Fraud Case Against Nikola Founder After Trump Pardon
In a move that has sent ripples through the electric vehicle sector and regulatory circles, the U.S. Securities and Exchange Commission has formally dropped its civil fraud case against Trevor Milton, the controversial founder of Nikola Corp. The decision, filed in a New York federal court, comes six months after President Donald Trump issued a full pardon to Milton, who had been convicted of misleading investors about his company’s hydrogen and…
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