Federal Grand Jury Subpoenas firm that Merged with Trump’s Social Network

Federal grand jury Subpoenas were issued to the business that merged with the former president Trump’s social media company last week, the company reported in a Securities and Exchange Commission (SEC) filing on Monday. Every member of the board of directors of the special purpose acquisition company, or

SPAC, that combined with the Trump Media and Technology Group was served with Subpoenas by a grand jury in the Southern District of New York.The most recent Subpoenas heighten the investigation into the deal. In December, only a few weeks after the merger between Trump’s business and Digital World Acquisition Corp, the SPAC, was announced, federal officials started looking into it.

According to a filing on Monday, the fresh Subpoenas ask for some of the same records as federal regulators as well as correspondence with or about “several persons” and details on Rocket One Capital, a venture capital firm with offices in Miami. In a statement, Trump Media and Technology Group stated that it will assist with the probe. The statement said, “TMTG is committed to recovering the American people’s right to free expression.” “Our crew puts in countless hours every day to maintain Truth Social’s explosive growth, bring on new members, and provide new features.

We welcome and will work with any supervision that furthers the SEC’s crucial goal of safeguarding retail investors. The progression runs the danger of postponing the merger’s conclusion even more. The Financial Industry Regulatory Authority and the SEC are conducting an inquiry and are looking for details about what happened before the news went public.