Former US President Donald Trump’s pardons have wiped out over $1 billion in debts owed by wealthy Americans who committed fraud and broke the law, according to Liz Oyer, a former US Department of Justice official. Trump’s pardons have erased $1.3 billion in fines and restitution for 24 individuals and companies.
The four largest pardon recipients with the highest debt relief are led by Trevor Milton, founder of an electric-truck company, who was convicted of securities fraud and wire fraud in 2023 and ordered to pay $676 million in restitution. However, this amount was not formally approved by a judge before the pardon was issued, making the dollar figure speculative.
The scale of Trump’s pardons is unprecedented in American history, with some critics arguing that it leaves victims without the restitution they are entitled to receive. Democrats on the House Oversight Committee noted that individuals pardoned for January 6-related offenses collectively owed nearly $3 million in restitution before receiving their pardons.
Trump’s pardoning spree has surpassed all but three post-World War II presidents, with 58 people pardoned in four and a half months, excluding the January 6, 2021-related pardons.
Fact-checkers have rated Oyer’s statement as “Mostly True,” noting that while the math holds on the surface, the calculation requires additional information and caveats. The accuracy of the statement hinges on the specifics of each pardon and the amounts involved.
Donald Trump’s pardons have wiped out over $1 billion in debts owed by wealthy Americans who committed fraud and broke the law, according to Liz Oyer, a former US Department of Justice official. The scale of Trump’s pardons is unprecedented in American history, with some critics arguing that it leaves victims without the restitution they are entitled to receive.
In total, Trump’s pardons have erased $1.3 billion in fines and restitution for 24 individuals and companies. Notably, Trevor Milton, the founder of an electric-truck company, had approximately $676 million in restitution wiped out, although this amount was not formally approved by a judge before the pardon was issued, making the dollar figure speculative.
Key Details of Trump’s Pardons
- Number of Pardons: Trump pardoned 58 people in four and a half months, excluding January 6, 2021-related pardons
- Comparison to Biden: Biden pardoned 80 people over four years
- Debt Relief: The four pardon recipients with the highest debt would collectively exceed $1 billion by themselves
- Criticism: Critics argue that Trump’s pardons leave victims without restitution, sparking controversy over his use of executive power.