Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam

The criminal tendencies of Donald Trump and his felonious fellowship continues to be exposed by law enforcement authorities who have still only scratched the surface of his nefarious and rampant wrongdoing. He has demonstrated for decades his conviction that he is above the law and entitled to violate it whenever it suits him.

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Trump is currently awaiting trial on more than 60 felony counts resulting from his criminal activities. The charges pending against him range from falsifying business records, to unlawful possession of classified documents, to obstruction of justice, and much, much more. This is the behavior of a mob boss bent on building an organized crime operation, even if he isn’t particularly good at it.

RELATED: Scared and Desperate Trump Begs Congress to Save Him From the Meanies Prosecuting His Crimes

On Thursday it was reported that Trump’s associates in his truthless, anti-social media venture, “Truth Social,” were arrested and charged with insider trading. According to CNN

“Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump’s media business public.

According to the indictment, the three individuals together made more than $22 million in illegal profits in October 2021 by purchasing shares in Digital World Acquisition Corporation (DWAC) after secretly learning about the blank-check firm’s plan to buy Truth Social owner Trump Media & Technology Group (TMTG).”

Shortly after Trump’s Truth Social was announced, it was tied to the special purpose acquisition company (SPAC), DWAC. The law prohibits SPACs from discussing potential acquisition targets prior to their formation. But obviously the word about the Trump connection got out. The stock immediately ran up to $175.00, which is where the indicted investors bailed out with huge gains. The stock now sits at about $12.00.

There are reasons that the stock has cratered. The whole enterprise is a sham that is failing pitifully. It cannot grow its user base or attract advertising. Meanwhile, the reputation for illegal activity on Trump’s part has been evident in the affairs of his Truth Social disease. What follows are a just a few of the licentious legal landmarks for the illicit enterprise:

Trump Files Ludicrous Lawsuit Against the Washington Post for Defaming His Truth Social Scam
Trump has no basis for this suit. For one thing, he is constantly claiming that his Pravda Social is a massive success, greatly eclipsing Twitter. Also, it’s hard to defame a business that began as a fraud and went downhill from there.

Trump’s Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out
Nunes visited Newsmax to swing open his tear ducts with mournful moaning about the catastrophic business for which he is the chief executive.

Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure
As for Trump, he was reported to own 90% of TMTG, which earned him less than $200 according to his financial disclosure. That’s hardly representative of the huge success that Trump has claimed Truth Social to be.

Trump’s ‘Truth Social’ Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding
The report notes that the sources of the funding include the off-shore Paxum Bank, based in the Caribbean island nation, Dominica. It is notorious for “providing banking services for the pornography and sex worker industries, which makes it higher risk of engaging in money laundering and other illicit financing.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury
In addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.

As a bonus, it turns out that Trump bailed on his crooked company just weeks before subpoenas were served. He removed himself and Don Jr from the board of TMTG and is no longer named as the company’s chairman. But if he thinks that will enable him to escape legal liability, he’s going to be sorely disappointed.

UPDATE July 7: 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.”

UPDATE August 4: DWAC’s auditor has resigned, signaling deeper problems with the SPAC’s finances. They now need to find another auditor before they can complete their deal with Trump Media, which increasingly looks like it may never go through at all.

UPDATE August 10: DWAC has again extended their deadline to complete the merger with Trump’s TMTG. The new so-called deadline is December 31, more than two years later than the original completion date.

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7 thoughts on “Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam

  1. My, my! He really DOES seem to think he’s invincible. Is he in for a shock — a real drench of cold water. Invincible? More like — invisible.

  2. I would love to see TUMP rot in prison. The way he is going, his crimes are going to extend beyond his retched, corrupt, crime ridden life, even if he lives to be 86 years old… His charges are really pilling up. More are likely coming in the next few months. I am also going to rejoice at the news of everyone of them.

    • There will be. Jack Smith already has a grand jury working on the J6 case. The Miami grand jury is still busy with subpoenas and people still testifying. Fani Willis i going to file charges in August, and her security arrangements suggest Trump is one of the targets. There is probably another documents charge in New Jersey and there are more cases in New York. He’s going to be very busy, and may be looking at 200-1,000 years in prison.

      • I have read that Mr. Smith will soon be looking into that JAN6 Insurrection thing too. I hope the charges against him in this case will hold very serious charges against his sorry rear end. What he did in that is pure treason, and i don’t know if that applies now, but that is supposedly 20 years in prison for that.. He needs to be in prison with the prison sentence of, ”Life in prison, without the possibility of parole” Those cretins in our Congress that are terrorists, such as, Marjorie Traitor Goon, Gym Jordan, Matt Gaetz, Lauren Boebert, Josh Hawley, and Kevin McCarthy should also be tried and convicted. These are very bad people, and evil, to boot.

        • Well, just between two cases, 71 charges have been brought against Trump. I have no idea how many more will be coming. 😉

          • I would assume that the charges could exceed 100 or maybe even more… There is no way that this SOB should be allowed to run for anything here in the United States, TUMP should even be banned from running for dog catcher. He really should be in prison with his job in prison would be cleaning out toilets with his bare hands. No gloves allowed for him.

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