• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Ex-CEO of firm that merged with Trump Media accused of fraud

by July 18, 2024
written by July 18, 2024

The Securities and Exchange Commission sued the former CEO of the blank-check company that merged with Trump Media, accusing him of lying about his firm’s plans to combine with Donald Trump’s social media startup.

Patrick Orlando allegedly lied in public filings when he said his company, Digital World Acquisition Corp., had not contacted any possible merger targets and had no specific merger plans, the commission said in the lawsuit filed Wednesday night in Washington, D.C., federal court.

“Orlando knew these statements were false,” the SEC’s civil complaint alleged.

“He had personally engaged in numerous lengthy discussions” with Trump Media’s representatives, and he had targeted the company “for months,” the SEC alleged.

The SEC asked the court to force Orlando to give up “all ill-gotten gains” as a result of his alleged violations, along with civil penalties and a permanent injunction barring his from engaging in that conduct.

Orlando and Trump Media did not immediately respond to CNBC’s requests for comment.

Trump Media and Digital World completed their lengthy public merger in March, allowing the company behind the Truth Social platform to trade on the Nasdaq under the stock ticker DJT.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
UK climate campaigners challenge approval of new coal mine in High Court
next post
Morning Glory: The secret weapon of JD Vance

related articles

Cracker Barrel shares plummet after pushback on new...

August 22, 2025

Walmart boosts sales outlook as it says tariff...

August 21, 2025

How a ship that glides like a pelican...

August 21, 2025

Apple just landed a key win for the...

August 20, 2025

Best Buy launches third-party marketplace as it looks...

August 19, 2025

Group accused of using fake accounts to buy...

August 19, 2025

Playboy moving its headquarters to Miami Beach and...

August 17, 2025

Lyft co-founders to step down from ride-hailing firm’s...

August 16, 2025

Warren Buffett’s Berkshire Hathaway reveals new stake in...

August 16, 2025

Apple Watch getting redesigned blood oxygen feature following...

August 15, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • As Tesla shares struggle in 2025, short sellers pocket $11.5B in profits

    April 22, 2025
  • Kamala Harris should prosecute Big Pharma, not bail it out

    October 7, 2024
  • Harris team crafted federal judge ‘death-pool roster’ to swear her in should Biden die as president, book says

    April 7, 2025
  • Voters react to Gov Tim Walz dodging Tiananmen Square question: ‘I’m a knucklehead at times’

    October 2, 2024
  • Trump’s historic Abraham Accords would be bolstered with military ‘exchange program’ under bipartisan bill

    September 15, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,789)
  • Investing (634)
  • Stock (894)

Latest Posts

  • Trump ends feud with swing-state governor he slammed as ‘disloyal’

    August 23, 2024
  • Amazon, Tesla drive Magnificent Seven surge on US-China trade deal

    May 12, 2025
  • 5 terrifying flashpoints that could ignite global war

    June 9, 2025

Recent Posts

  • Trump admin to direct agency heads to prep for ‘large-scale reductions in force,’ reorganization by March 13

    February 26, 2025
  • Fani Willis ordered to pay $54K for violating open records laws in Trump case

    March 17, 2025
  • Who is Steve Ricchetti, the longtime Biden confidante questioned in Comer’s cover-up probe?

    July 30, 2025

Editor’s Pick

  • NASA backs Trump budget blueprint with $6B cut to agency

    May 6, 2025
  • Howard Lutnick confirmed as Trump’s commerce secretary

    February 19, 2025
  • Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says

    May 29, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock