Trump’s new social media venture was flagged by experts as a scheme, and the SEC is already investigating.
In October, Trump announced a new media venture that would “stand up to the tyranny of Big Tech.” That new entity, chaired by the former president, agreed to go public through a merger with Digital World, a Special Purpose Acquisition Company, or SPAC.
In a filing Monday, Digital World Acquisition Corp. said it received a document and information request from the Securities and Exchange Commission in early November. Among other items, Digital World said the SEC request sought documents and communications between Digital World and Trump Media and Technology Group.
Trump and his partner sold shares in a venture that he had no legal requirement to complete. In other words, Trump could take the money and never have to provide the product.
They could make a big announcement, sell lots of shares, and then never have to deliver the platform. It sounds a lot like legalized theft of shareholder funds.
Experts called what Trump was doing a stock scam, and it appears that the federal government is concerned enough to launch an investigation.
It is not a coincidence that wherever Donald Trump goes, crime follows.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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