The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

Ex-CEO of firm that merged with Trump Media accused of fraud

by admin July 19, 2024
July 19, 2024
Ex-CEO of firm that merged with Trump Media accused of fraud

The Securities and Exchange Commission sued the former CEO of the blank-check company that merged with Trump Media, accusing him of lying about his firm’s plans to combine with Donald Trump’s social media startup.

Patrick Orlando allegedly lied in public filings when he said his company, Digital World Acquisition Corp., had not contacted any possible merger targets and had no specific merger plans, the commission said in the lawsuit filed Wednesday night in Washington, D.C., federal court.

“Orlando knew these statements were false,” the SEC’s civil complaint alleged.

“He had personally engaged in numerous lengthy discussions” with Trump Media’s representatives, and he had targeted the company “for months,” the SEC alleged.

The SEC asked the court to force Orlando to give up “all ill-gotten gains” as a result of his alleged violations, along with civil penalties and a permanent injunction barring his from engaging in that conduct.

Orlando and Trump Media did not immediately respond to CNBC’s requests for comment.

Trump Media and Digital World completed their lengthy public merger in March, allowing the company behind the Truth Social platform to trade on the Nasdaq under the stock ticker DJT.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Citadel’s Ken Griffin buys a stegosaurus for $45 million in a record auction sale
next post
RNC delegates, guests make predictions about Biden’s political future amid reports he might exit 2024 race

Related Posts

FTC bans fake online reviews, inflated social media...

August 16, 2024

Hims & Hers Health says it will offer...

May 21, 2024

Why companies are canceling summer Fridays

June 17, 2024

White House aims to make it easier for...

August 13, 2024

Former FTX chief Sam Bankman-Fried seeks no more...

March 4, 2024

Tesla investors want Elon Musk to answer questions...

January 30, 2025

What’s Turo? The ‘Airbnb of cars’ was used...

January 4, 2025

Nestle to launch frozen pizzas, other foods targeting...

May 22, 2024

As Tesla layoffs continue, here are 600 jobs...

May 18, 2024

DOJ seizes record $225 million in crypto tied...

June 19, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

      August 10, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      August 10, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 10, 2025
    • Sydney Sweeney jeans controversy making advertising great again

      August 10, 2025
    • Nagasaki mayor issues chilling warning on 80th anniversary of atomic bombing

      August 10, 2025
    • Kash Patel celebrates major FBI achievements and record seizures during Trump’s first 200 days in office

      August 10, 2025

    Categories

    • Business (1,330)
    • Politics (4,206)
    • Stocks (1,577)
    • Uncategorized (45)
    • World News (1,323)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved