American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
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
How on-time rent payments can help ‘credit invisible’ consumers be seen
next post
Lobo Tiggre: Shopping for Silver Stocks, Watching “Powerful” Gold Mover

Related Posts

How AI and underground markets fuel a $70...

March 6, 2025

Singapore’s cross-border interconnections set to unlock 25 GW...

June 3, 2025

Adani Group stocks gain as Hindenburg Research ceases...

January 16, 2025

China’s Hainan faces setback in its global retail...

January 3, 2025

Why the LA Rams are worth $2 billion...

September 6, 2024

Rioja wine producers face uncertainty amid trade tensions...

April 3, 2025

UK climate targets at risk as high electricity...

June 25, 2025

Nvidia’s $279 billion wipeout — the biggest in...

September 5, 2024

XRP slips 2.5% to $2.14 as Trump-Musk clash...

June 6, 2025

Top FTSE 100 and FTSE 250 shares to...

November 15, 2024

    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 News

    • Kraft Heinz plans breakup, weighs $20 billion grocery spin-off: report

      July 13, 2025
    • Trump’s 50% tariff on Brazil imports to brew trouble for Starbucks and Dutch Bros

      July 13, 2025
    • US to announce 30% tariff on EU and Mexico says Trump

      July 13, 2025
    • Why India is rushing to build bigger banks and what’s standing in the way

      July 13, 2025
    • Wall Street braces for weakest earnings season since 2023 amid market highs

      July 13, 2025

    Categories

    • Business (3,388)
    • Investing (2,615)
    • Latest News (2,017)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, 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 americaninvesthub.com | All Rights Reserved