Trump stands to gain billions… from the merger between TrumpMedia & Tech & the blank-check co [#SPAC] #DWAC, which took the parent company of #TruthSocial public.
The #ESFamilyTrust was funded for the first time on 2 Dec 2021.
#TrumpMedia then received the #loans:
$2m on 23 Dec 2021, & $6m on 17 Feb 2022.
The loans came in the form of convertible promissory notes, meaning ESFamilyTrust would gain a major stake in #Trump Media because it was offering the #money in exchange for TrumpMedia agreeing to convert the loan principal into “shares of Company Stock”.
NEWS: The adjudicated Fraud has posted a $175 million bond in the New York civil fraud case, preventing seizure of his assets while the case is on appeal.
Originally due March 25.
Trump is liable for $454 million, most of the fraud judgment, but the amount he owed had been growing by more than $111,000 daily due to added interest.
Don Hankey, the Insurance Carrier CEO Apparently Behind the $175 Million Trump Bond, Is a Trump Mega-Donor Who Has Already Been Written Up As Connected to Shady Trump-Adjacent Financial Operation
The Totally Dodgy Backstory of the Bank that Just Refinanced Trump Tower
How Axos — a financial firm tied to GOP politics and high-profile lawsuits — became the Trumps' lender of last resort.
Elon was in WPB. Third visit in last several weeks.
Donald found guilty engaged in a decade of business fraud by falsely inflating the former president's net worth to get better loans and business deals.
"The frauds found here leap off the page and shock the conscience," Engoron wrote.
-Don Hankey is the Chairman of Knight Insurance. He specializes in extending loans to people with bad credit.
-Amit Shah (President)
-John Rygh (General Counsel)
-Jackie Leung (Chief Financial Officer)
Hankey's spouse, Debbi Bowles, donated to Trump's 2020 campaign.
Axos Bank refinanced Trump Tower in 2022.
"#SEC documents show Hankey is the largest non-institutional investor in Axos; Hankey made his fortune with subprime auto loans, charging exorbitant interest to financially strapped customers who need a car."
Social media platform is like phantom stocks. They appear substantial, but their value is elusive.
How Phantom Stock Works:
Phantom shares mimic real stock value.
Pump & Dump Scheme: A fraudulent practice where individuals artificially inflate the price of a stock (or in this case, social media company) to attract unsuspecting or criminal/dark money investors who “pump” stock prices, the inflated worth is illusory.
Money Laundering: Trump concealing the origins of illicitly obtained funds by passing them through a complex sequence of banking transfers or commercial transactions.
Truth Social is a failed social media platform, that will merge with a publicly traded SHELL company. Financial Performance: Since its 2021 launch, Truth Social generated sales of less than $5 million. However, Trump’s supporters rallied to boost shares in the shell company, Digital World Acquisition Corp. Its a money laundering scheme.
Truth Social/ DJT’ stock has all the earmarks of a pump and dump scheme and a stock swindle where the only people who will benefit in the long run will be insiders. Ie: Donald Trump and his cronies.
The financials of Truth Social are horrible. It is losing $5 million plus each quarter on revenue of less than $1 million a quarter.Truth Social is essentially a MAGA message board.
So why are people driving the stock price up? To be able to funnel dark and foreign money to Trump to use in his campaign without having to disclose the source of the investors. Campaign contributions have to be disclosed to the #FEC, but that can be avoided by buying Truth Social stock.
The stock is pumped up and Trump cashes in his shares. The SEC should take a very close look at this Trump pump and dump scheme.
"Let us be very clear: according to industry experts, any cosigner for this loan would need to have a net worth of between $75 and $100 billion.
Not $75 and $100 million. $75 and $100 billion.
There are five or six Americans who meet that standard. Donald Trump himself has a negative net worth.
So the idea that any amount of money Trump gets from Truth Social would be enough to both purchase the bond and put up sufficient collateral for it is literal nonsense. A fantasy.
WHAT corrupt businessperson—and will it be a foreign national?—buys $3 billion of worthless meme stock from Trump as part of an obvious fire sale. And how much of a discount does the buyer seek?
If Trump were willing to accept $500 million for meme stock allegedly worth $3 billion, he could get away with it, I’m sure. But he will insist on full face value by stock price.
But if some dodgy figure pays him billions for obviously worthless paper assets"
An #SEC Investigation originate from various wronged investors or alerts from market professionals, whistleblowers, Suspicious Activity Reports (SARs) filed by financial institutions, or Red flags detected in market trading data.
Since this financial pump & dump scheme is method or tool that Yass, China & other pro-fascist are using to funnel money to the criminal - then they are going to take the loss because this is how they are getting the $$$ to Donald. Only Donald and his cronies are enriched. It's an anonymous campaign donation!
The #SEC should shut it down because it makes our financial markets a vehicle for criminals.
The SPAC merger with a worthless, debt ridden maga message board company is simply a way for donors to funnel money to Donald without scrutiny. #SEC @skykiss @suntour
#TrumpMedia merger wins investor approval, netting #Trumppotential windfall
TFG will own ~60% of #TruthSocial, which at its current share price would be worth ~$3.3B.
A lockup agreement will prevent him from selling the shares for 6 months.
A long-delayed move that will open the owners of TruthSocial to stock-market investors & grant Trump a stake worth billions he could use to pay down his #legal#debts.
The vote Fri by investors in #DWA authorized the #SPAC, to merge w/ #TrumpMedia & #Tech Grp as part of a process that will avoid a more traditional #IPO. #Trump will own ~60%, which at DWA’s current share price would be worth ~$3.3B. He & other investors could earn tens of millions more shares through an “earnout” provision tied to the stock’s performance, DWA said in an #SEC filing.
The merger will net TrumpMedia $300M that DWA initially raised from investors.
#Trump’s allies & company execs will also be granted bundles of shares in the new company that could be worth millions. But trading on the #stockmarket will also open the company to more public scrutiny, & any drops in share prices would affect the value of those stakes.
Critics have said #TrumpMedia is a “#MemeStock” w/a >$6B valuation they say is out of sync w/its financial outlook. TrumpMedia lost $49M in the first 9 months of last yr & brought in just $3.4M in revenue, per #DWA#SEC filing.
"The #SEC rule is just one data point in a global picture that is trending toward climate disclosure. Countries from the United Kingdom to Singapore are pursuing their own regimes. And the European Union’s climate disclosure regulations will be particularly relevant for many U.S. companies. They are also far more stringent than the SEC’s. And then there’s California. The state is pursuing its own disclosure regime, which other states could soon replicate."
"Investors will be asking companies for data on indirect greenhouse gas emissions that new U.S. financial disclosure rules exclude, the International Sustainability Standards Board's (ISSB) chair told Reuters.
"Investors say #Scope3 is important," ISSB Chair Emmanuel Faber said in an interview."
You can hide behind the #SEC but if you need to disclose your emissions to someone you've effectively disclosed to everyone.