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Donald Trump Removed Himself From Board Of Media Company — Right Before Subpoenas Hit

Donald Trump Removed Himself From Board Of Media Company — Right Before Subpoenas Hit

Donald Trump and his companies are the targets of multiple investigations of various kinds at the moment, ranging from probes into Trump’s role in efforts to overturn the 2020 election to questions about potentially illegal financial practices in his real estate holdings. His media company, Trump Media & Technology Group (TMTG), is also the subject of an inquiry. Days ago, it was hit with subpoenas in that investigation — and as it turns out, Trump reduced his own role in the company right before the subpoenas hit.

[Photo by CHRIS DELMAS/AFP via Getty Images]

Bloomberg reports that TMTG was served with subpoenas as a Southern District of New York Grand Jury sought information about a planned merger with merger with Digital World Acquisition Corp. Reports have indicated that the merger could be part of an effort to dodge securities rules.

Forbes provided additional context:

“n October, TMTG and DWAC announced plans to merge. But in December the SEC began investigating the merger, amid claims DWAC CEO Patrick Orlando had conversations with Trump before the blank check company went public, possibly violating regulations prohibiting SPACs from selecting an acquisition target before raising funds.”

However, it’s now revealed that in the weeks before the subpoenas were served, the former president removed himself, his son, and four other members from the board. The Herald Tribune reports that this took place on June 8th, only a few short weeks before the subpoenas hit “certain current and former TMTG personnel” — who have not been specifically identified by name or role.

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This leaves only two board members in their roles: CEO Devin Nunes and CFO Phillip Juhan.

It’s not clear what, if any, effect this will have on the company’s compliance with the subpoenas.

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