A federal grand jury in Manhattan and the Securities and Exchange Commission (SEC) have subpoenaed former President Trump’s media company, according to an SEC filing on Friday.
Digital World Acquisition Corp, a special purpose acquisition company seeking to merge with Trump Media and Technology Group (TMTG), disclosed in its filing that the blank check company was informed that TMTG had received a subpoena from the SEC in Monday and a separate subpoena by a federal grand jury in the Southern District of New York on Thursday.
The SEC’s subpoena “seeks documents related to, among other things, Digital World and other potential counterparties to a business transaction involving TMTG,” according to the SEC filing.
The federal grand jury subpoena in Manhattan “seeks a subset of the same or similar documents requested in the subpoenas to Digital World and its directors,” the filing noted.
Digital World also revealed that some former and current employees at Trump’s media company also received grand jury subpoenas of their own.
The development comes after every member of Digital World’s board of directors received grand jury subpoenas, which was disclosed in an SEC filing earlier this week.
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Financial regulators are investigating the merger between TMTG and Digital World, which was announced last October. Trump’s media company would gain a stock market listing and $1 billion in capital if the merger goes through, according to The New York Times.
“TMTG is focused on restoring the American people’s right to free expression. Every day, our team works tirelessly to support the rapid growth of Truth Social, onboard new users and add new features. We encourage and will cooperate with oversight that supports the SEC’s important mission of protecting retail investors,” TMTG said in a statement after Monday’s SEC filing.
The Hill has reached out to a spokesperson for Trump and TMTG for comment.
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