Joe.My.God. LGBT News
The Washington Post reports:
In October 2021, former president Donald Trump announced that his media company, the owner of the platform Truth Social, had sealed an incredible deal: a merger with a “special purpose acquisition company” that would deliver to his firm $300 million toward his promise of giving “a voice to all.”
By then, however, the insider trading by investors in the SPAC, Digital World Acquisition, had already begun, according to documents filed recently in the criminal case against three Digital World investors who’ve been charged with securities fraud in New York federal court.
Digital World’s chief executive, Patrick Orlando, a Miami financier Trump had hosted at his golf clubs, had been telling investors privately for months that he’d been talking with Trump about the deal, the filings assert — a violation of federal securities law, the Securities and Exchange Commission would say later.
Read the full article. It’s quite the deep dive and of course Russians are involved. Gift link here.
Great @drewharwell on the Russian & Ukrainian-born investors making millions insider trading on the proposed merger between Trump’s Truth Social & Digital World, including the nephew of a Russian government official, linked to an entity lending to Trump https://t.co/5dHgIo1xjR
— Catherine Belton (@CatherineBelton) February 3, 2024
One investor, Anton Postolnikov, had amassed a huge stake in Digital World. Postolnikov, the nephew of a longtime Russian government official, sold most of his stake just days after Trump’s announcement sent the stock soaring, according to an FBI affidavit. His profit: $22 m.
— Catherine Belton (@CatherineBelton) February 3, 2024