To the surprise of absolutely no one, (save, perhaps the MAGA faithful who continue to send money to Trump and his assortment of grifter hangers-on), Trump’s new media venture that raised nearly $300 million from suckers, chumps and ass-kissers is under investigation by the SEC, according to The New York Times.
Securities regulators have opened investigations into the planned merger of a nascent social media company backed by former President Donald J. Trump with a so-called blank-check company that raised nearly $300 million in an initial public offering in September.
The investigations by the Securities and Exchange Commission and the Financial Industry Regulatory Authority were disclosed Monday in a regulatory filing by Digital World Acquisition Corporation, the special purpose acquisition company that intends to merge with Trump Media Technology Group.
Both regulators are looking for information regarding the trading in shares of Digital World. The S.E.C. is also looking into “documents and communications” between Digital World and Trump Media.
Like everything connected to Trump and his sycophants, chicanery was involved:
Digital World was established as a special purpose acquisition company — an entity that raises money through an I.P.O. and then seeks a company to acquire. When SPACs go public, they are not supposed to have engaged in merger talks without disclosing that to investors.
…
The filing said that FINRA asked Digital World to provide information about trading activity before the Oct. 21 announcement of the planned merger with Trump Media. The S.E.C., according to the company, has asked for documents including those relating to meetings of Digital World’s board and “certain documents and communications between D.W.A.C. and T.M.T.G.”
This news come the same day that the Washington Post reveals that Sydney Powell’s scam election fraud outfit, Defending the Republic, raked in more than $14 million from Trump Chumps with little to no accounting of where the money went.
In the months after President Donald Trump lost the November election, lawyer Sidney Powell raised large sums from donors inspired by her fight to reverse the outcome of the vote. But by April, questions about where the money was going — and how much there was — were helping to sow division between Powell and other leaders of her new nonprofit, Defending the Republic.
On April 9, many members of the staff and board resigned, documents show. Among those who departed after just days on the job was Chief Financial Officer Robert Weaver, who in a memo at the time wrote that he had “no way of knowing the true financial position” of Defending the Republic because some of its bank accounts were off limits even to him.
It’s freakin’ hilarious! Keep sending money, Trump Chumps! My god, these people will never learn. Of course, the raw numbers of MAGA faithful are on the decline to the tune of a thousand a week due to COVID, so the spigot may turn from a gusher to a trickle as MAGAs continue to be “called to Jesus.”
Don’t get vaccinated and keep sending money! And do it quickly before you keel over from COVID!
This is a Creative Commons article. The original version of this article appeared here.
