JorroJul 18, 2024

#trump #patrickorlando #digitalworldacquisition #truthsocial #trumpmediaandtechnologygroup #fraud #securitiesfraud

Everything Trump touches dies ;

“The U.S. Securities and Exchange Commission on Wednesday sued Patrick Orlando, ex-chief of Digital World Acquisition Corp that helped former U.S. President Donald Trump's social media company go public, for securities fraud.
In a filing with the court of District of Columbia, the SEC said Orlando broke rules concerning securities by issuing false and misleading statements while he led the blank-check firm.”

https://www.reuters.com/technology/us-sec-sues-digital-worlds-former-ceo-alleging-securities-fraud-2024-07-17/

Show threadNonilexFeb 15, 2024
#DigitalWorldAcquisition, the #SPAC that 1st launched the merger for #Trump Media & Technology Group in 2021, said in an #SEC filing late Wed that the SEC had signed off on its registration stmnt & that DWA would announce a shareholder meeting w/in 2 days to vote on the #merger’s adoption. DWA shares climbed Thurs morning, to ~$50.
The approval is a victory for Trump, who will hold >78M shares in the post-merger co, a filing shows —a stake that, at current prices, would be worth >$4B
#tech #law
Show threadNonilexFeb 3, 2024
In Oct 2021, #Trump announced that his #media company, …owner of…Truth Social, had sealed an incredible deal: a merger w/a “special purpose acquisition company” that would deliver his firm $300M….

By then, however, the #InsiderTrading by #investors in the #SPAC, #DigitalWorldAcquisition, had already begun, acc/to documents filed recently in the #criminal case against 3 #DWAC #investors who’ve been charged w/ #securities #fraud in NewYork federal court.

#criminal #law #SEC #FederalSecurities
NonilexFeb 3, 2024

The wild probe into investors of #DWAC, #Trump #Media’s proposed merger ally

Sales of #DigitalWorldAcquisition stock triggered a widespread federal probe that involved a confidential informant, a secret airport phone scan & an elite anti-#MoneyLaundering squad. Three people were indicted, but the investigation continues.

#tech #criminal #law #finance
#GiftArticle

https://wapo.st/3SKVcju

The wild probe into investors of DWAC, Trump Media’s proposed merger ally

An investigation into early investors of Digital World Acquisition included a government informant, a secret phone scan and an elite anti-money-laundering squad. It’s still going.

The Washington Post
News-Cafe.eu blogDec 11, 2023
#Trump's social media business is a money loser. The ex-president seeks to make the startup behind #TruthSocial a public company, but the platform’s misinformation and conspiracy are hardly attractive. #digitalworldacquisition #SEC #trumpmedia @similarweb @trumpmedia @SEC @digitalworldacquisition
https://www.news-cafe.eu/?go=news&n=12992
Trump's social media business is a money loser - News Cafe

The ex-president seeks to make the startup behind Truth Social a public company, but the platform’s misinformation and conspiracy are hardly attractive.

NonilexSep 2, 2023

#Trump’s #media #StartUp announced in Oct 2021 that it planned to #merge w/a Miami-based co called #DigitalWorldAcquisition…

Now, almost 2yrs later, … w/the #merger stalled for months, #DigitalWorld is fast approaching a Sept 8 deadline for the merger to close & has scheduled a #shareholder meeting for Tues in hopes of getting enough votes to #extend the deadline another year.

#Tech #SPAC #InsiderTrading #SEC
https://www.washingtonpost.com/technology/2023/09/02/truth-social-trump-media-digital-world/

Trump’s Truth Social facing a key funding deadline

With the merger stalled for months, Digital World is fast approaching a Sept. 8 deadline for the merger to close and has scheduled a shareholder vote for Tuesday to extend the deadline another year.

The Washington Post