When It Rains, It Pours: Thanks Again, EmptyWheel !

[GGoss]

Link to tweet

Federal investigators examined Trump Media for possible money laundering, sources say - Guardian

Federal prosecutors in New York involved in the criminal investigation into Donald Trump’s social media company last year started examining whether it violated money laundering statutes in connection with the acceptance of $8m with suspected Russian ties, according to sources familiar with the matter.

The company – Trump Media, which owns Trump’s Truth Social platform – initially came under criminal investigation over its preparations for a potential merger with a blank check company called Digital World that was also the subject of an earlier probe by the Securities and Exchange Commission.

Towards the end of last year, federal prosecutors started examining two loans totaling $8m wired to Trump Media, through the Caribbean, from two obscure entities that both appear to be controlled in part by the relation of an ally of Russian president Vladimir Putin, the sources said.

The expanded nature of the criminal investigation, which has not been previously reported, threatens to delay the completion of the merger between Trump Media and Digital World, which would provide the company and Truth Social with up to $1.3bn in capital, in addition to a stock market listing. Even if Trump Media and its officers face no criminal exposure for the transactions, the optics of borrowing money from potentially unsavory sources through opaque conduits could cloud Trump’s image as he seeks to recapture the White House in 2024.

Link: https://www.theguardian.com/us-news/2023/mar/15/trump-media-investigated-possible-money-laundering?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1678861290

[3Hotdogs]

1. --- and the most harm coming to Trump from this, is bad publicity for his campaign?

He gets access to $1b in capital in exchange for some finger wagging.

[pnwmom]

2. Trump Media's been laying off people and their counsel sent a Feb letter to the House complaining

that they're being subject to an endless investigation. Hah! Now we know why.

https://www.businessinsider.com/donald-trump-media-truth-social-layoff-digital-world-spac-merger-2023-3

The parent company of Truth Social, former President Donald Trump's social-media platform, has laid off some workers as it waits for US regulators to approve a merger, Bloomberg reported, citing sources.

Around half a dozen staff at Trump Media & Technology Group were laid off, two people familiar with the matter, and who requested to remain anonymous, told Bloomberg. The layoffs included senior employees, such as chief technology officer William "BJ" Lawson, the people said. . .


The reported layoffs come at a time when Trump Media is set to merge with Digital World, a special purpose acquisition company, or SPAC. Trump Media, founded in 2021, is waiting for the SEC to approve the merger deal.

A February letter sent to Congress by Trump Media's general counsel requested an investigation into the SEC's review of the merger, according to a report by Just The News, linked to on the company's website. The letter said the "endless" review was "an unprecedented attempt to kill the deal without any finding of wrongdoing."


HERE'S THE COMPLAINING LETTER:
https://justthenews.com/sites/default/files/2023-02/23.02.27%20TMTG%20to%20Congress%20FINAL%20w%20Attachments.pdf

[GGoss]

4. Thank You For That !!!

[stopdiggin]

3. joking right?

- " .. optics of borrowing money from potentially unsavory sources through opaque conduits could cloud Trump’s image .. "

"Cloud Trump's image?" "Unsavory?"
Hold my beer ...

(emptywheel is a solid and insightful source .. )

[gab13by13]

6. Emptywheel wasn't the source was it?

[stopdiggin]

7. not sure where/why emptywheel showed up in the title line

(twitter bits?)
but you're correct in that the link is clearly not them.
and I clearly need more coffee.

[Hugh_Lebowski]

8. Top of the post is a tweet from EmptyWheel (nt)

[GGoss]

5. MORE HERE: