Donald Trump was removed from office as director of his media company before the judicial investigation began

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Donald Trump was removed from office as director of his media company before the judicial investigation began

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Former US President Donald Trump. Photo: AP

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Former US President Donald Trump was removed from the position of director of his media company before the company was sued as part of an investigation by financial regulators, several media outlets reported on Friday.

The document shows that Trump’s son Donald Jr, and many others, were too fired in June as executives of the Trump Media & Technology Group (TMTG), which includes its social network Truth Social.

The company, for its part, claimed that it was false information and insisted on the fact Trump continues to preside over the company.

Donald Trump's Truth Social platform was launched as an attempt by the former president to compete with Twitter and Facebook.  Photo: AFP

Donald Trump’s Truth Social platform was launched as an attempt by the former president to compete with Twitter and Facebook. Photo: AFP

The information was first published on Thursday since Tribune of the Herald of Sarasotathe newspaper of the city of Florida where TMTG is based.

Trump’s media company in the crosshairs of justice

The US Financial Regulatory Agency and the New York Attorney’s Office are investigating for TMTG use a fictitious company called Digital World to become public.

TMTG’s notification to the Florida State Department of Trump’s removal from office is of 8 June just weeks before Digital World received subpoenas for its directors and other executives to testify.

The Department of Justice and the SEC, the body responsible for regulating the stock market, are investigating the agreement between DWAC and Trump Media. By joining with DWAC, a kind of shell company called a special purpose acquisition company, into the Trump company it has opened up the possibility of accessing billions of dollars in public securities markets.

The media company of former US President Donald Trump is in the crosshairs of justice.  Photo: AP

The media company of former US President Donald Trump is in the crosshairs of justice. Photo: AP

Senator Elizabeth Warren had already criticized the deal in November. At the time, she contacted SEC President Gary Gensler, telling him that DWAC “may have committed securities violations by holding private and secret discussions on the merger as early as May 2021, omitting this information from the documents and elsewhere.” public statements “.

The TMTG website has a link to the “Board of Directors” in the menu, but it appears blank.

But the statement released Thursday on Truth Social’s official account notes that “Donald Trump remains on the board of trustees of the Trump Media and Technology Group” with the title of “president.”

Trump created Truth Social after deleting his Facebook accountsTwitter and YouTube after the assault on the Capitol on January 6 last year, faced with accusations of having used social networks to incite his followers to use force to upset the result of the presidential elections in 2020.

Before being censored, had 89 million followers on Twitter and used the platform constantly.

However, the launch of its Truth Social platform in February was plagued with technical glitches and is not yet available outside of the United States.

Source: AFP

Source: Clarin

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