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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.<\/p>\n
RELATED: Scared and Desperate Trump Begs Congress to Save Him From the Meanies Prosecuting His Crimes<\/a><\/strong><\/p>\n On Thursday it was reported that Trump’s associates in his truthless, anti-social media venture, “Truth Social,”<\/em> were arrested and charged with insider trading. According to CNN<\/a><\/strong>…<\/p>\n “Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump\u2019s media business public.<\/p>\n 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\u2019s plan to buy Truth Social owner Trump Media & Technology Group (TMTG).”<\/p><\/blockquote>\n 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.<\/p>\n 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:<\/p>\n Trump Files Ludicrous Lawsuit Against the Washington Post for Defaming His Truth Social Scam<\/a><\/strong> Trump\u2019s Truth Social CEO Whines that Shareholders in His Alt-Twitter Scam Are Being Wiped Out<\/a><\/strong> Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure<\/a><\/strong> Trump\u2019s \u2018Truth Social\u2019 Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding<\/a><\/strong> Truth Social Disease: Ads on Trump\u2019s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch<\/a><\/strong> LOCK HIM UP: Trump\u2019s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury<\/a><\/strong> As a bonus, it turns out that Trump bailed<\/a><\/strong> 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\u2019s chairman. But if he thinks that will enable him to escape legal liability, he\u2019s going to be sorely disappointed.<\/p>\n UPDATE July 7:<\/strong> DWAC and the SEC have reportedly reached an agreement regarding the company\u2019s merger deal with TMTG. According to CNN<\/a><\/strong>, “If it\u2019s 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.”<\/em><\/p>\n UPDATE August 4:<\/strong> DWAC’s auditor has resigned<\/a><\/strong>, 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.<\/p>\n UPDATE August 10:<\/strong> DWAC has again extended their deadline<\/a><\/strong> 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.<\/p>\n Be sure to visit and follow News Corpse
\nTrump 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\u2019s hard to defame a business that began as a fraud and went downhill from there.<\/p><\/blockquote>\n
\nNunes visited Newsmax to swing open his tear ducts with mournful moaning about the catastrophic business for which he is the chief executive.<\/p><\/blockquote>\n
\nAs for Trump, he was reported to own 90% of TMTG, which earned him less than $200 according to his financial disclosure. That\u2019s hardly representative of the huge success that Trump has claimed Truth Social to be.<\/p><\/blockquote>\n
\nThe 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 \u201cproviding banking services for the pornography and sex worker industries, which makes it higher risk of engaging in money laundering and other illicit financing.\u201d<\/p><\/blockquote>\n
\nAdvertisers 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.<\/p><\/blockquote>\n
\nIn 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.<\/p><\/blockquote>\n\n
\non Twitter<\/a> and Facebook<\/a> and Instagram<\/a> and Mastodon<\/a>.<\/strong>\n<\/p>\n