Trump media firm subpoenaed in a federal criminal investigation of SPAC deal
Key takeaways:
- According to Digital World Acquisition Corp, Donald Trump’s media firm was subpoenaed by a federal grand jury in contact with a criminal investigation.
- The filing arrived days after DWAC said government inquiries could slow or even deter its merger with Trump’s recently formed company.
- The Trump company also got a subpoena from the Securities and Exchange Commission about a civil investigation on Monday, DWAC said.
Donald Trump’s media firm was subpoenaed by a federal grand jury in contact with a criminal investigation, according to the firm with which the ex-president’s company plans to merge.
Digital World Acquisition Corp. stated in a filing Friday that Trump Media and Technology Group got a subpoena from the grand jury in Manhattan on Thursday.
The Trump firm also got a subpoena from the Securities and Exchange Commission regarding a civil probe on Monday, DWAC said.
DWAC also said some existing TMTG employees have recently received grand jury subpoenas. Later Friday, TMTG said it would yield the warrants and that none of them were directed at its chairman, Trump, or CEO, ex-U.S. Rep. Devin Nunes.
The filing arrived days after DWAC said the government probes could postpone or even stop its merger with Trump’s recently formed firm, which has Truth Social, a social media app intended to be an option to Twitter.
Neither TMTG nor a spokeswoman for Trump instantly replied to CNBC’s pleas for comment.