If Truth Social was loosing cash so rapidly, how could Trump keep it afloat up until the recent IPO? According to the Guardian, by borrowing millions from a Russian shell company controlled by Postolnikov — a guy whose name is listed on FBI search warrants in an ongoing money laundering investigation.
If all of this is true, the movie about the takedown Comrade Trump appears to write itself.
@randahl
I've been following this shitshow for quite a while now. I never believed the merger would actually happen until it did, and I still think the SEC never should have given the green light for it.
I wrote about the link between TMTG and Paxum Bank back in October 2023:
"In 2022, the Southern District of New York investigated TMTG for money laundering, after finding it received a $8 million in loans: $2 million from Paxum Bank, based in Dominica and chartered under the Offshore Banking Act No. 8 of 1996. Paxum is partially owned by a former Russian government official who now runs a maritime agency under the jurisdiction of the Ministry of Transport of the Russian Federation. The other $6 million came from “ES Family Trust” which shared a director with Paxum."
@randahl
With all the fraud, money laundering, finger pointing, and insider trading, the entire enterprise that is Trump Media will implode spectacularly.
I assume he is pressuring his cronies on the board of directors to void his share lockup period. He will sell his shares before the 6 months are up, while the price remains artificially inflated, and use the proceeds to enrich himself and campaign for dictator in chief.
@shansterable which brings us back to the core problem: Can the legal system work fast enough.
I am really looking forward to the start of the hush money trial in two weeks. Cohen did time for this, and he worked for Trump, and the judge seems rock solid.
Add comment