Feds launch multiple investigations into Trump 'media' company: NYT
The Securities and Exchange Commission and another U.S. government entity are conducting investigations into Donald Trump’s new “media” company, including a planned merger “with a so-called blank-check company that raised nearly $300 million in an initial public offering in September,” The New York Times reports.
The S.E.C. and the Financial Industry Regulatory Authority “are looking for information regarding the trading in shares of Digital World. The S.E.C. is also looking into ‘documents and communications’ between Digital World and Trump Media.”
According to the Times, “Digital World said it was cooperating with the requests for information and ‘the investigation does not mean that the S.E.C. has concluded that anyone violated the law or that the S.E.C. has a negative opinion of D.W.A.C. or any person, event, or security.'”
Noted attorney George Conway weighed in, noting that DOJ has the ability to criminally prosecute violations of federal securities law:
It's worth noting that any "willful" violation of the Securities Act of 1933 or the Securities Exchange Act of 1934 can be prosecuted criminally by the Justice Department. https://twitter.com/davidenrich/status/1467867849112920065\u00a0\u2026pic.twitter.com/XUM6THbCs7— George Conway (@George Conway) 1638807954
The New York Times’ Maggie Haberman called it “The inevitable.”
And The Times’ David Enrich calls it a “high-stakes development for Trump.”
This is a high-stakes development for Trump, who is banking on hundreds of millions of dollars in outside funding to get his new media company off the ground.\n\nStay tuned later today for more @nytimes reporting on the, uh, unconventional way in which this deal came together.— David Enrich (@David Enrich) 1638802160
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