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SPAC Behind Trump’s Truth Social Hit With Federal Grand Jury Subpoena [VIDEO]

SPAC Behind Trump’s Truth Social Hit With Federal Grand Jury Subpoena [VIDEO]

Shocking breaking news: another thing connected to Donald Trump that involves money is not just failing, but is now in hot water with the Feds. Nutty, huh? For such a successful businessman, he sure never seems to succeed at anything. Weird.

Digital World Acquisition, the SPAC (special-purpose acquisition company, or shell company if you want to get real here) behind Trump’s Twitter wannabe Truth Social, has been subpoenaed by a federal grand jury in the Southern District of New York. The filing states that the subpoenas are seeking “requests relating to Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital,” a Miami-based hedge fund. The filing warns that these grand jury subpoenas “could materially delay, materially impede, or prevent the consummation” of the merger that’s needed to fund Truth Social.

[Photo by CHRIS DELMAS/AFP via Getty Images]
It was revealed earlier this month that the Securities and Exchange Commission (SEC) was investigating the Truth Social deal, with a particular focus on whether illegal negotiations occurred prior to Digital World Acquisition went public.

Shares of the already floundering Truth Social plunged after the news of the federal subpoenas broke. Weird how no one actually can have any faith in someone who keeps making empty promises to them, but especially when they figure out he’s been spending their money in a really bad way.

Now that the individual members of Digital World Acquisition’s Board of Directors have received their subpoenas, you can just add this one to the never-ending list of fraud investigations that all have Donald Trump at their center. I don’t know, maybe someday his base will catch on to the endless grifting, as if he hasn’t made it painfully obvious for everyone.

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