{"id":49678,"date":"2022-06-14T03:06:14","date_gmt":"2022-06-14T03:06:14","guid":{"rendered":"https:\/\/harchi90.com\/sec-expands-its-investigation-into-trump-shady-spac-attempt\/"},"modified":"2022-06-14T03:06:14","modified_gmt":"2022-06-14T03:06:14","slug":"sec-expands-its-investigation-into-trump-shady-spac-attempt","status":"publish","type":"post","link":"https:\/\/harchi90.com\/sec-expands-its-investigation-into-trump-shady-spac-attempt\/","title":{"rendered":"SEC Expands its Investigation Into Trump Shady SPAC Attempt"},"content":{"rendered":"
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Photo: Chris Delmas (Getty Images)<\/figcaption><\/p>\n<\/div>\n

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Federal regulators are threatening to quash Donald Trump’s dreams<\/span> of becoming the next Jeff Bezos before they have a chance to take off.<\/p>\n

In filings<\/span> Monday, the Security and Exchange Commission said it was expanding its investigation into the former president’s totally legit<\/span> Trump Media & Technology Group over an impending merger with a shell company<\/span> called Digital World Acquisition Corp. The two companies are seeking to merge as a shifty way to take TMTG public through a Special Purpose Acquisition Company, referred to more commonly as a SPAC<\/span>.<\/p>\n

According to the filing, first spotted by<\/span> Axios, regulators are reportedly probing to determine whether or not DWAC and Trump negotiated terms before DWAC officially went public. Doing so would reportedly violate US law. TMTG announced<\/span> its intention to merge with DWAC on October 20, 2021, but is not currently public.<\/p>\n

The new filings reveal regulators are seeking additional documents and information pertaining to TMTG and DWAC’s communications. Eventually, the SEC says a resolution to its investigation could potentially result in “The imposition of significant penalties“Or” prohibitions on the conduct of Digital World’s business. “<\/p>\n

TMTG and DWAC did not immediately respond to Gizmodo’s requests for comment.<\/p>\n

The potential Trump merger is beginning to look like a liability for DWAC. Though the company’s stock price rocketed up on the heels of the merger announcement last year, the price has since fallen<\/span> back down significantly due to investors’ concerns over regulator scrutiny. The company’s stock price took another hit<\/span> this week.<\/p>\n

Making matters worse, the expanded SEC investigation comes as public hearings<\/span> over the January 6 Capitol Hill riots have thrust Trump back into the spotlight. Trump, who’s still banned<\/span> from Twitter and nearly every other the major social network over his comments related to January 6, used his Truth Social platform to fire off<\/span> over a dozen posts criticizing the hearings and, oddly, their TV. ratings, which the former Apprentice<\/em> host claimed were “absolutely awful.” In a more recent TRUT over the weekend, Trump whined about the hearings, which he described as a “one sided Witch Hunt.” When have we heard that before?<\/p>\n<\/div>\n

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Photo: Chris Delmas (Getty Images) Federal regulators are threatening to quash Donald Trump’s dreams of becoming the next Jeff Bezos before they have a chance to take off. In filings Monday, the Security and Exchange Commission said it was expanding its investigation into the former president’s totally legit Trump Media & Technology Group over an …<\/p>\n

SEC Expands its Investigation Into Trump Shady SPAC Attempt<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[116,21240,2265,3509,860,21245,1445,483,103,135,12066,4260,15012,21243,21244,21242,21241,3597,3596],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/i.kinja-img.com\/gawker-media\/image\/upload\/c_fill,f_auto,fl_progressive,g_center,h_675,pg_1,q_80,w_1200\/f59efad98bb6c61c704f7159aa7820c3.jpg","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/49678"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=49678"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/49678\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=49678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=49678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=49678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}