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

Long REAL: The RealReal Inc. Surges on Strong...

November 6, 2024

Boohoo and THG Group shares have imploded: buy...

September 25, 2024

Dangerous times

April 20, 2025

Netflix vs movie theaters: is the streaming giant...

December 28, 2024

Stellantis aims to correct ‘arrogant’ mistakes in U.S....

June 17, 2024

iDEGEN price forecast: Bitget CEO predicts $60B market...

January 16, 2025

Pi Network ranks 6th in Finland’s app charts,...

May 9, 2025

Pernod Ricard, Remy, and other alcohol stocks fall...

March 14, 2025

Higher tax filing costs could take a bite...

February 3, 2024

Snowflake stock jumps 33% on Thursday, analysts see...

November 22, 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

    • How Donald Trump’s immigration crackdown may tank the labor market

      August 4, 2025
    • Trump’s tariff threat looms over India’s Russian oil deals

      August 4, 2025
    • Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

      August 3, 2025
    • BOE rate cuts offer little relief as UK households face mounting financial strain

      August 3, 2025
    • Retail investors shift focus to Europe as US valuations stretch

      August 3, 2025

    Categories

    • Business (3,573)
    • Investing (2,700)
    • Latest News (2,031)
    • 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