Trump Media & Technology has had a whistle blower giving SEC and DOJ key info on violation of law

[LetMyPeopleVote]

Last edited Sun Oct 16, 2022, 01:32 AM - Edit history (1)

I have been following this deal for a long while. There are subpoenas out to the boards of both Digital World Acquistion (DWT) and Trump Media & Technology (TMT) for a while. https://www.democraticunderground.com/10142937759
DWT has been unable to get the necessary shareholder vote to extend the merger transaction and had to pay $3 million to extend life of company and there are concerns that the regulatory scrutiny will kill this deal https://www.democraticunderground.com/100216626239
Investors are pulling their commitments to fund DWT.
https://www.democraticunderground.com/100217191109
This is incredible. The fact that the SEC and the DOJ had subpoenas out told me that there was some real wrongdoing with Trump Media & Technology's (TMT) proposed merger with Digital World Acquisition (DWT). Since August, the SEC and the DOJ have had the cooperation of a whistle blower who has the dirt to kill this deal. The amusing thing is that this started because TFG wanted one of the people who founded and did all the work to give Melania a large percentage of his shares and because Nunes pissed off people

Link to tweet

https://www.washingtonpost.com/technology/2022/10/15/truth-social-trump-animosity-whistleblower/?utm_campaign=wp_main&utm_medium=social&utm_source=twitter

Will Wilkerson, then an executive at former president Donald Trump’s start-up Trump Media & Technology Group, was at a Fort Lauderdale, Fla., coffee shop with company co-founder Andy Litinsky last October when Trump called Litinsky with a question: Would he give up some of his shares to Trump’s wife, Melania?

Trump Media, the owner of the fledgling social network Truth Social, had just been boosted by a huge merger agreement and a flood of investment that had made the stake worth millions of dollars. Trump had already been given 90 percent of the company’s shares in exchange for the use of his name and some minor involvement, leaving everyone else to split the rest......

Wilkerson is cooperating with investigations into Trump Media by the SEC and federal prosecutors from the Southern District of New York, said his attorneys, Phil Brewster, Patrick Mincey and Stephen Bell. Among the materials he filed with the SEC’s whistleblower office is a detailed, day-to-day computer log compiled by company co-founder Wes Moss, Litinsky and Wilkerson about their daily company-related activities.

He also provided to The Post a copy of that log as well as numerous other memos, photographs and videos that chronicled the creation of Trump Media. All of the materials Wilkerson shared with The Post were previously provided to government investigators, his attorneys said......

Digital World’s registration form, filed with the SEC in May 2021 and signed by Orlando, said the SPAC and its representatives had not “initiated any substantive discussions, directly or indirectly, with any business combination target.” But in Wilkerson’s complaint, he claims that Digital World and Trump Media had “substantive communications” regarding a merger that he alleged violated SEC rules.

On April 14, 2021, Moss and Litinsky learned in a meeting with Orlando that the Benessere deal was no longer viable but that Digital World could be an option, Wilkerson said; an entry in the computer log notes that day that “the BENE deal is OFF!!!!”

After leaving the meeting, Wilkerson said, the men were so stunned by the suggestion of something they believed to be improper that they wondered whether it was a government setup or if Orlando had been wearing a secret recording device. The log quotes Litinsky in calling it the “roughest day so far” and says, “Patrick Orlando pitches us plan b, I get scared, is he wearing a wire?”.....

John Coates, a former acting director of the SEC’s corporate finance division, told The Post, “If the identity of a merger partner is known before a Form S-1 is filed and goes effective, it must be disclosed, whether it’s a SPAC or not. For a SPAC, a known merger partner is even more obviously material to investors.”

Michael Klausner, a Stanford University law professor, said it would violate SEC regulations and argued that “a failure to disclose the SPAC’s plans would be an end-around the IPO rules.”

It is never a good sign when you leave a meeting and you are wondering if the other person in the meeting is wearing wire.

[Ocelot II]

1. Is there anything TFG is involved with that *isn't* a complete fraud?

[malaise]

5. THIS

King Con!

[Hermit-The-Prog]

2. Nunes will have a cow. Traitortrump wants everything.

A pile of cat shit has more moral fiber than traitortrump.

[LetMyPeopleVote]

3. The article cited in the OP discussed Nunes

Nunes is an idiot and will be out of a job soon

Link to tweet

?s=20&t=0-PCioBUOs-3_SvFjdJAmg

https://www.washingtonpost.com/technology/2022/10/15/truth-social-trump-animosity-whistleblower/

Tensions also began to grow inside the company over who was in control. Litinsky, Moss and Wilkerson, eager to hire a point person to handle financial marketing and public scrutiny, had in November gotten dinner at an Atlanta steakhouse with then-Rep. Nunes, a Trump loyalist and prominent Republican critic of Silicon Valley, Wilkerson said. Two months later, Nunes resigned from Congress to become the company’s CEO with Trump and the co-founders’ support.

Company filings show Nunes is paid a base salary of $750,000 a year that could increase to $1 million in the second year, plus bonuses and equity. He had no prior experience leading a tech company.

Wilkerson has expressed sharply critical views of Nunes’s leadership of the company. He told The Post that, in Nunes’s first days at the office, Nunes began exhorting workers to come in early and stay late and berating company officials over what he saw as flawed decision-making. Wilkerson added that he believed this fueled acrimony among the company’s more established employees.

He began “bringing in a camp of people who were Nunes loyalists,” Wilkerson said, “to the point where it became very fractious and hampered our ability to be productive.”

[Hermit-The-Prog]

4. That sounds like the Southern plantation foreman style of management.

It works when people feel trapped.

[malaise]

6. Come into my parlour

Said the spider to the fly

[Hermit-The-Prog]

7. There are pretty curtains drawn around, the sheets are fine and thin

The Spider and the Fly

Thanks for the reminder of that poem.

[malaise]

8. LOL

Haven’t seen all those verses in at least 50 years 😀

[LetMyPeopleVote]

10. Trump's Truth Social broke the law, says former VP -- who gave the Feds the evidence: report

The SEC has been cracking down on SPACs and according to my son there has not been a SPAC offering for a while. Here it is clear that Trump Media & Technology and Digital World Acquistion violated SEC rules. The DOJ and the SEC are both investigating these assholes and that means that they are serious

Link to tweet

https://www.rawstory.com/truth-social-trump-sec/

Federal investigators have received evidence of crimes from a former executive at the Trump Media & Technology Group, which runs his Truth Social clone of Twitter, according to a bombshell new report by The Washington Post that was published online on Saturday afternoon.

The newspaper reports the company's former senior vice president of operations, Will Wilkerson, is pursuing whistleblower status from the Securities and Exchange Commission (SEC). Wilkerson believes Trump forced out company co-founder and former contestant on the TV show "The Apprentice" Andy Litinsky for not handing over shares in the company to his wife, Melania Trump. Wilkerson provided the newspaper with an email from Litinsky saying the former president was retaliating against him.

"The email — one of hundreds of previously unreported company messages, documents, photos and audio recordings that Wilkerson has provided to the SEC in connection with a whistleblower submission — reveals a stunning portrait of the animosity that has built up inside Trump Media since its high-profile debut last year," the newspaper reported.....

"Wilkerson is cooperating with investigations into Trump Media by the SEC and federal prosecutors from the Southern District of New York, said his attorneys, Phil Brewster, Patrick Mincey and Stephen Bell," the newspaper reported. "Among the materials he filed with the SEC’s whistleblower office is a detailed, day-to-day computer log compiled by company co-founder Wes Moss, Litinsky and Wilkerson about their daily company-related activities. He also provided to The Post a copy of that log as well as numerous other memos, photographs and videos that chronicled the creation of Trump Media."

[Hermit-The-Prog]

11. Moss and Litinsky may flip, too, now that they know there's a day-to-day log.

[LetMyPeopleVote]

9. Co-Founder: Trump Media violated laws