Trump’s SPAC Deal Rocked by Subpoenas Being Sent to Every Board Member of Blank-Check Firm
The SEC was already investigating the planned merger of Trump’s Truth Social and the SPAC that wants to take it public.
Michael B. Thomas
Donald Trump’s SPAC deal took another hit Monday when it was revealed that subpoenas have been sent to every board member of Digital World Acquisition Corp., the company planning to merge with Trump’s social-media firm and take it public. In a filing with the Securities and Exchange Commission—which is separately investigating the merger—the blank-check company said the organization itself had also been served by a federal grand jury sitting in the Southern District of New York. The new requests for information covers some of the same documents sought by the SEC, Digital World said in its filing. Trump and Digital World announced their plan to merge and create Truth Social in October last year.
"subpoenas seek certain of the same documents demanded in the above-referenced SEC subpoenas, along with requests relating to Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital."
— Matthew Goldstein (@MattGoldstein26) June 27, 2022
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