{"id":56747,"date":"2023-04-22T11:56:40","date_gmt":"2023-04-22T18:56:40","guid":{"rendered":"https:\/\/www.newscorpse.com\/ncWP\/?p=56747"},"modified":"2023-07-06T08:36:50","modified_gmt":"2023-07-06T15:36:50","slug":"trumps-truth-social-ceo-whines-that-shareholders-in-his-alt-twitter-scam-are-being-wiped-out","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=56747","title":{"rendered":"Trump&#8217;s Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out"},"content":{"rendered":"<p>The single most unifying characteristic of the cult of Donald Trump &#8211; aside from the brazen and shameless lying &#8211; 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.<\/p>\n<p style=\"text-align:center\"><strong><a href=\"https:\/\/twitter.com\/intent\/tweet?text=Trump's Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out%0D&#038;url=https:\/\/www.newscorpse.com\/ncWP\/?p=56747\" rel=\"noopener\" target=\"_blank\">Click here to Tweet this article<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newscorpse.com\/Pix\/Trump\/trump-stock-chart-red.jpg\" alt=\"\" width=\"550\" height=\"296\" class=\"aligncenter size-full wp-image-43291\" \/><\/p>\n<p>Among the worst dispensers of this dreary disposition is former GOP representative &#8211; and current CEO of Trump&#8217;s Truth Social &#8211; Devin Nunes. Ever since he resigned from Congress to head up Trump&#8217;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 <em>&#8220;Deep State,&#8221;<\/em> radical liberals, and George Soros.<\/p>\n<p><strong>RELATED: <a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=56715\" rel=\"noopener\" target=\"_blank\">Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure<\/a><\/strong><\/p>\n<p>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&#8230;<\/p>\n<blockquote><p>&#8220;A major scandal that&#8217;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.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Truth Social CEO Devin Nunes says the investors in Truth \u201care being wiped out\u201d by the SEC blocking them from going public: \u201cWe want to go public. We want to merge with a company. The shareholders that bought into that company are being wiped out.\u201d <a href=\"https:\/\/t.co\/eUASqEtkne\">pic.twitter.com\/eUASqEtkne<\/a><\/p>\n<p>&mdash; Ron Filipkowski (@RonFilipkowski) <a href=\"https:\/\/twitter.com\/RonFilipkowski\/status\/1649469381405974537?ref_src=twsrc%5Etfw\">April 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Awww. Poor thing. He&#8217;s been forced to admit that Truth Social is a total bust. The <em>&#8220;scandal brewing&#8221;<\/em> 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.<\/p>\n<p>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&#8217;t look very likely at this point. And since the only purpose of this sham venture was to either exact vengeance on Trump\u2019s enemies, or enrich him personally, he appears to have failed on both counts.<\/p>\n<p>In addition to the SEC probe, Trump&#8217;s operation is the subject of a Grand Jury in New York, for which all of DWAC\u2019s board members have been subpoenaed. What&#8217;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. <\/p>\n<p><strong>SEE THIS: <a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=56533\" rel=\"noopener\" target=\"_blank\">Trump\u2019s \u2018Truth Social\u2019 Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding<\/a><\/strong><\/p>\n<p>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&#8217;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.<\/p>\n<p><strong>UPDATE:<\/strong> DWAC and the SEC have reportedly reached an agreement regarding the company\u2019s merger deal with TMTG. <strong><a href=\"https:\/\/www.cnn.com\/2023\/07\/03\/business\/trump-spac-sec-settlement-in-principle\/index.html\" rel=\"noopener\" target=\"_blank\">According to CNN<\/a><\/strong>, <em>&#8220;If it\u2019s approved, the SEC will enter a cease-and-desist order with the company, finding DWAC violated &#8216;antifraud provisions&#8217; 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.&#8221;<\/em><\/p>\n<p><strong>RELATED STORIES:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=56715\" rel=\"noopener\" target=\"_blank\">Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure<\/a><\/li>\n<li><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=56533\" rel=\"noopener\" target=\"_blank\">Trump\u2019s \u2018Truth Social\u2019 Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding<\/a><\/li>\n<li><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=56201\" rel=\"noopener\" target=\"_blank\">Truth Social Disease: Ads on Trump\u2019s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch<\/a><\/li>\n<li><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=55095\" rel=\"noopener\" target=\"_blank\">Trump \tThreatened to \u2018Blow Up the Company\u2019 if Truth Social Execs Didn\u2019t Give Their Shares to Melania<\/a><\/li>\n<li><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=55003\" rel=\"noopener\" target=\"_blank\">Devin Nunes Exalts the Failing Truth Social as \u2018The Most Important Creation in Trump\u2019s Career\u2019<\/a><\/li>\n<li><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=54320\" rel=\"noopener\" target=\"_blank\">Trump Posts Hysterical Lie that \u2018Everyone is Watching\u2019 His Failing Twitter Ripoff, Truth Social<\/a><\/li>\n<\/ul>\n<blockquote>\n<div>\n<p style=\"text-align:center\"><strong>Be sure to visit and follow News Corpse<br \/>\non <a href=\"https:\/\/twitter.com\/NewsCorpse\" rel=\"noopener\" target=\"_blank\">Twitter<\/a> and <a href=\"https:\/\/www.facebook.com\/NewsCorpse\/\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> and <a href=\"https:\/\/www.instagram.com\/newscorpse\/\" target=\"_blank\" rel=\"noopener\">Instagram<\/a> and <a href=\"https:\/\/newsie.social\/@NewsCorpse\" rel=\"noopener\" target=\"_blank\">Mastodon<\/a>.<\/strong>\n<\/p>\n<p style=\"text-align:center\"><strong>And check out my books on Amazon:<\/strong>\n<\/p>\n<p style=\"text-align:center\"><strong><a href=\"http:\/\/amzn.to\/2aOYFpM\" target=\"_blank\" title=\"\" rel=\"noopener\">Fox Nation vs. Reality:<br \/>\nThe Fox News Cult of Ignorance.<\/a><\/strong>\n<\/p>\n<p style=\"text-align:center\"><strong>Thanks so much for your support.<\/strong><\/p>\n<\/div>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The single most unifying characteristic of the cult of Donald Trump &#8211; aside from the brazen and shameless lying &#8211; 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. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1,8,11,16],"tags":[1235,554,1458],"class_list":["post-56747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-propaganda","category-socialmedia","category-wankery","tag-devin-nunes","tag-donald-trump","tag-truth-social"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stock-chart-red.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-eLh","jetpack-related-posts":[{"id":63210,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=63210","url_meta":{"origin":56747,"position":0},"title":"Trump Media is Purging Those Too Weak to Keep Up the Crumbling Truth Social Scam (ProPublica)","author":"Mark NC","date":"10\/5\/2024","format":false,"excerpt":"From its inception, the Trump Media and Technology Group (TMTG) has been a shady operation steeped in scandals that are rampant with legal, financial, and ethical misconduct. Although the disgraceful record of this corporate parent of Truth Social will surprise no one, considering the unscrupulous character (or lack thereof) of\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Twitter","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-baby-twitter.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-baby-twitter.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-baby-twitter.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":55003,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=55003","url_meta":{"origin":56747,"position":1},"title":"Devin Nunes Exalts the Failing Truth Social as &#8216;The Most Important Creation in Trump\u2019s Career&#8217;","author":"Mark NC","date":"10\/6\/2022","format":false,"excerpt":"Throughout Donald Trump's career he has embellished his personal and business \"achievements\" to the point that they bore no resemblance whatsoever to reality. Trump only speaks in hyperbole, claiming that everything he undertakes is the greatest success ever known to mankind. And conversely, any criticism or failure is the worst\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Devin Nunes","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-nunes-virus.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-nunes-virus.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-nunes-virus.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":52525,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=52525","url_meta":{"origin":56747,"position":2},"title":"SRSLY? Trump&#8217;s TRUTH Social Boss, Devin Nunes, Tells Fox News that &#8216;Twitter is a Ghost Town&#8217;","author":"Mark NC","date":"4\/7\/2022","format":false,"excerpt":"What do wingnut Republican scam artists do when their much ballyhooed business ventures go bust? Well, if you're Devin Nunes, the former congressman and fake farmer who is now the CEO of Donald Trump's pathetic Twitter clone, TRUTH Social, you go on Fox News and tell flagrant lies about how\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Devin Nunes","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-nunes-virus.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-nunes-virus.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-nunes-virus.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":60917,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=60917","url_meta":{"origin":56747,"position":3},"title":"Fox News Host Asks Trump&#8217;s Truth Social CEO About its Stock Flop, Gets Babbling Lies in Response","author":"Mark NC","date":"4\/7\/2024","format":false,"excerpt":"The saga of Donald Trump's frequent financial failures continues unabated into the 2024 presidential election cycle. The most recent example of a Trump enterprise that is destined to go belly up is his ego-driven social media scam, Truth Social, that he launched after he was banned from Twitter for posting\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Stock Market","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":52441,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=52441","url_meta":{"origin":56747,"position":4},"title":"Trump&#8217;s PRAVDA, er, TRUTH Social Twitter Clone Flops as it Misses Yet Another Launch Date","author":"Mark NC","date":"3\/31\/2022","format":false,"excerpt":"America's Biggest Loser is once again demonstrating just how adept he is at failing. Donald Trump has a record of business catastrophes that is unparalleled in modern times. His numerous, and narcissistically self-branded projects \u2013 from airlines to games to steaks to vodka \u2013 all ended as humiliating fiascos. Even\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Twitter","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-baby-twitter.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-baby-twitter.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-baby-twitter.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":58653,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=58653","url_meta":{"origin":56747,"position":5},"title":"Trump&#8217;s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding","author":"Mark NC","date":"10\/15\/2023","format":false,"excerpt":"Donald Trump is a one man crime syndicate who currently has 91 felony counts pending in four criminal indictments. The charges against him range from paying hush money to a porn star, to falsifying business records, to unlawful possession of classified documents, to obstruction of justice, to election interference, to\u2026","rel":"","context":"In &quot;Crime&quot;","block_context":{"text":"Crime","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1475"},"img":{"alt_text":"Donald Trump Circling the Drain","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/56747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56747"}],"version-history":[{"count":4,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/56747\/revisions"}],"predecessor-version":[{"id":57337,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/56747\/revisions\/57337"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/media\/43291"}],"wp:attachment":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}