CBS News reports:
A company whose largest shareholder is Trump campaign manager Brad Parscale received nearly $800,000 from the federal coronavirus relief fund for small businesses, according to a filing with the SEC. The company, CloudCommerce, was eligible for the low-interest loan through the Paycheck Protection Program. In late December, the digital marketing company began soliciting new investors through a stock offering that promises a high annual dividend payment of 10%.
Dozens of ads for the stock offering were removed from Facebook in February and March, because they violated the platform’s policy against “get-rich-quick” schemes and made “exaggerated promises.” Parscale has been CloudCommerce’s largest shareholder since 2017, when CloudCommerce bought two of his companies — Parscale Digital and Parscale Strategy — and added him to its Board of Directors.
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