Federal prosecutors say $ 1 billion for a blank check company and formerPresident Donald Trump We are scrutinizing the merger. Social media startup, the company said in a regulatory filing Monday.
Last week, a federal grand jury in New York issued a subpoena to members of the board of directors of Digital World Acquisition Corporation and Digital World, a special purpose acquisition company that merged with Trump Media&Technology Group. ..
The Grand Jury in the Southern District of New York is the latest federal investigation that could delay or complicate the merger of Trump's chair company and the special purpose acquisition company Digital World. The two companies previously said they expected the merger to close this year, providing Trump Media with $ 1.25 billion in net revenue and a stock market listing.
Digital World was filed in December 2021 by the Securities and Exchange Commission and financial industry regulators investigating transactions with Trump Media, respectively. I made it clear that I was there. In a submission on Monday, the company said the grand jury and the SEC had summoned similar information "on digital world due diligence on (Trump Media)" and related communications.
In a press release on Monday, Trump Media said, "We will cooperate in oversight to support the SEC's important mission to protect private investors."
"Our team is working hard every day to maintain Truth Social's rapid growth, recruit new users and add new features," the company operates. Mentioned social networks to do. The network was launched in February and has established the brand around other right-wing figures such as Trump and former MP Devinneness, the company's CEO. Trump's site has 3.4 million followers, and most accounts fall into this category.
A spokesperson for the Southern District of the Justice Department declined to comment.
The grand jury also sought information related to Rocket One Capital, a Miami-based investment, according to Digital World filings. The filing did not explain the requested information, but in another filing on Monday, Digital World said Rocket One executive Bruce Garlic had resigned from Digital World's board of directors. Filing did not state why he resigned.
The Rocket One representative did not immediately return a call or email asking for comment.
Graham Kates is an investigative journalist is. CBS News Digital's Criminal Justice, Privacy Issues, Information Security. Contact GrahamKatesG@cbsnews.comorgrahamkates@protonmail.com
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