Trump's $300 Million SPAC Deal May Have Skirted Securities Laws

https://dnyuz.com/2021/10/29/trumps-300-million-spac-deal-may-have-skirted-securities-laws/

Just days after Donald J. Trump left the White House, two former contestants on his reality show, “The Apprentice,” The Apprentice,” approached him with a pitch. Wes Moss and Andy Litinsky wanted to create a conservative media giant.

Mr. Trump was taken with the idea. But he had to figure out how to pay for it.

This month, the former president found a way. He agreed to merge his social media venture with what’s known as a special purpose acquisition company, or SPAC. The result is that Mr. Trump — largely shut out of the mainstream financial industry because of his history of bankruptcies and loan defaults — secured nearly $300 million in funding for his new business.

To get his deal done, Mr. Trump ventured into an unregulated and sometimes shadowy corner of Wall Street, working with an unlikely cast of characters: the former “Apprentice” contestants, a small Chinese investment firm and a little-known Miami banker named Patrick Orlando.

More at link