Trump’s Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out

The single most unifying characteristic of the cult of Donald Trump – aside from the brazen and shameless lying – is their pathetic penchant for victimhood. For people who relentlessly brag about personal responsibility and inner strength, they sure cry a lot about how persecuted they are by everyone who is out to get them.

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Among the worst dispensers of this dreary disposition is former GOP representative – and current CEO of Trump’s Truth Social – Devin Nunes. Ever since he resigned from Congress to head up Trump’s pitifully failing social media scam, Nunes has done little but complain that the platform that he and Trump launched to avoid what they falsely perceived as censorship has been suppressed by the forces of the “Deep State,” radical liberals, and George Soros.

RELATED: Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure

On Friday Nunes visited Newsmax to swing open his tear ducts with mournful moaning about the catastrophic business for which he is the chief executive. Nunes complained bitterly about…

“A major scandal that’s brewing at the SEC. Their willingness to play politics and discriminate against people who, like our little company, our startup company, you know, we want to go public. We want to merge with a company. The shareholders that bought into that company are being wiped out.

Awww. Poor thing. He’s been forced to admit that Truth Social is a total bust. The “scandal brewing” at the Securities and Exchange Commission (SEC) that Nunes is whining about is actually an investigation into allegations of insider trading and stock fraud. It involves Digital World Acquisition Corporation (DWAC), the shell company that the Trump Media and Technology Group (TMTG) was expected to merge with in order to land a spot on the stock market.

However, that plan has not gone particularly well. DWAC has declined in value by 80% from its high mark last October. Trump and Nunes cannot access the millions of dollars of investments pledged unless and until the merge is completed. Which doesn’t look very likely at this point. And since 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.

In addition to the SEC probe, Trump’s operation is the subject of a Grand Jury in New York, for which all of DWAC’s board members have been subpoenaed. What’s more, it was recently revealed that Truth Social may have violated money laundering statutes in connection with the acceptance of $8 million in Russian funds connected to Vladimir Putin.

SEE THIS: Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding

Meanwhile, Trump himself bailed on his crooked company. Just weeks before the Grand Jury subpoenas were served, Trump removed himself and Don Jr from the board of TMTG. While that doesn’t actually shield him from liability, it is further evidence that his business is a scam that never had any credible prospects for success. Which the hiring of Nunes, who had no experience whatsoever in media or technology, should have told everyone from the start.

UPDATE: DWAC and the SEC have reportedly reached an agreement regarding the company’s merger deal with TMTG. According to CNN, “If it’s approved, the SEC will enter a cease-and-desist order with the company, finding DWAC violated ‘antifraud provisions’ connected to initial public offering filings. [and] If DWAC amends its IPO filings, it will have to pay the SEC an $18 million civil penalty after the closing of any merger deal.”


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