When Twitter permanently suspended Donald Trump two days after the January 6th insurrection that he incited, they said that it was “due to the risk of further incitement of violence.” There was a collective sigh of relief in America in anticipation that his maniacal raving might be muffled for a while. Unfortunately, that was not to be.
Soon after Trump was given the boot by Twitter, he launched his own social media operation, Trump Media and Technology Group (TMTG). The core of this scam was TRUTH Social, a blatant ripoff of Twitter built on rage and revenge. He promised that it would be a bastion of free speech, despite the fact that its terms of service explicitly forbid posts that criticized Trump and users were banned for posting the truth about January 6th.
Right from the start this racket rocketed to failure in record time. Digital World Acquisition Corporation (DWAC), the shell company that was expected to take the new business public, has declined in value by 80% from its high mark last October.
DWAC has suffered a series of the financial and legal setbacks that are so common to any Trump enterprise. And now there is another adversity owing to Trump’s inbred immorality:
“Digital World Acquisition Corp., the special purpose acquisition company planning to merge with the company behind former President Donald Trump’s Truth Social platform, is asking its shareholders to delay the deadline for completing the deal until 2023, in part because of federal investigations into the transaction. […] DWAC warned that may not even be enough time, though, noting the investigations might hamper its ability to win regulatory approval, which it said ‘may require us to liquidate.'”
The “federal investigations” to which this notice refers includes a Grand Jury in New York, for which all of DWAC’s board members have been subpoenaed. At the same time the Securities and Exchange Commission is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading.
These probes have contributed to the cratering of the value of Trump’s crime vehicle, DWAC. It may also explain why Trump himself bailed on his crooked company. Just weeks before the subpoenas were served, Trump removed himself and Don Jr from the board of TMTG.
Even worse, from Trump’s perspective, is that if this deal doesn’t go through he won’t be able to pocket the billions of dollars that have been raised by his criminal cronies to finance this flagrant fraud. Bearing in mind that the only purpose of this sham venture was to either exact vengeance on Trump’s enemies, or enrich him personally, he appears to have failed on both counts. And it will just add to the list of criminal offences that Trump and his crime family could be held liable for.
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