According to a July 1 revelation, a federal grand jury in New York summoned former US President Donald Trump’s media company in connection with a criminal investigation.
Trump Media and technology Digital . According to a filing by, the group was given a subpoena by a Manhattan grand jury on June 30. World In connection with a civil investigation by Acquisition Corp., the Securities and Exchange Commission this week issued a subpoena to the Trump Organization, according to DWAC.
DWAC is a blank check company. The term ‘blank check company’ refers to firms that are in a stage of development with no clear goals or objectives, or whose business plan is to merge or acquire another undisclosed business, group of businesses, or individual.
According to DWAC, some current and former TMTG employees have recently been given grand jury summons. On July 1, TMTG announced that it would comply with the summons and none of them were directed at its CEO, former US Representative Devin Nunes, or the chairman, Donald Trump.
The filling comes days after the DWAC warned that a government investigation would prevent or possibly thwart its merger with Trump’s newly established business, which has Truth Social, a social networking platform meant to be an alternative to Twitter.
However, the agreement between DWAC and Trump Media is being overseen by the Justice Department and the SEC, which oversees the stock market.
It was reported that in conjunction with DWAC, Trump’s business would potentially have access to billions of dollars in public equity markets.
US Senator Elizabeth Warren was one of the first politicians to criticize the Trump-DWAC agreement. It wrote to SEC Chairman Gary Gensler in November of last year, requesting an investigation, claiming that DWAC may have infringed securities by conducting private and anonymous discussions about the merger as early as May 2021, while accessing this information. failed to mention. In SEC filings and other public statements.
Per recent reports, the grand jury subpoenaed each member of DWAC’s board of directors on June 16, the company said in a securities filing this week.
According to the DWAC, the grand jury sought the same papers that the SEC had already requested as part of its civil investigation.
According to the DWAC, the SEC had already sought similar papers from the grand jury as part of its civil investigation.
Meanwhile, DWAC revealed this week that a board member, Bruce J. Garelik notified management a week before he stepped down from the board. According to the corporate filing, Garelik said his resignation was not the result of any dispute with Digital World’s operations, rules or procedures.
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