![]() When SPACs go public, they are not supposed to have engaged in merger talks without disclosing that to investors. Digital World was established as a special purpose acquisition company-an entity that raises money through an IPO and then seeks a company to acquire. The SEC is also looking into “documents and communications” between Digital World and Trump Media.… The investigation, which Digital World said began in early November, comes after The New York Times reported that the chief executive of Digital World, Patrick Orlando, had talks with representatives of Trump Media as far back as March about doing a deal. 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.īoth regulators are looking for information regarding the trading in shares of Digital World. Trump with a so-called blank-check company that raised nearly $300 million in an initial public offering in September. Securities regulators have opened investigations into the planned merger of a nascent social media company backed by former President Donald J. There’s also the matter of Trump having a huge amount of debt to pay down, making it even more likely that he would take money from unscrupulous figures. ![]() ![]() (In related news, Trump’s son-in-law, Jared Kushner-also a huge fan of the the crown prince-is reportedly in talks to raise a significant sum of money from the kingdom for his own investment firm.) It would not be difficult at all to assume the Saudis-or whoever else has given Trump money-views the investment as a downpayment for bad behavior that they could cash in on should Trump make his way back to the White House. intelligence agencies concluding that he approved the murder of Saudi dissident and U.S. For those with short memories, that includes defending Crown Prince Mohammed bin Salman despite U.S. As Tim O’Brien, who wrote a 2005 book about Trump’s con artistry, writes, it would be good to know, for example, if Saudi Arabia had invested in TRUTH Social, given the 45th’s president’s history with the country.
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