Following ex-President Trump’s mass social media ban — when he was permanently booted from every reputable platform from Facebook to Twitter and everything in between following his abhorrent behavior surrounding the January 6th Capitol riot — the man was blatantly, pathetically desperate to find somewhere else to go to air his grievances, where he would be beholden to no man’s rules but his own. So desperate, in fact, that he went so far as to create and launch his own social media site, where he’d have no one to answer to, and no one above him that could take it away from him.
However, his desperation may have gotten the better of him when it came to actually funding this big social media project.
Apparently, the one-term, twice-impeached former guy did manage to acquire all the funding he needed to foot the bill for the multi-billion dollar venture. However, according to a new bombshell report from the Washington Post, he did so through a Chinese company that has been the epicenter of many an investigation from the Securities and Exchange Commission (SEC.)
As explained in the report from the Post, the Shanghai company Arc Capital is notorious for helping to fund companies that don’t yet have any revenue or offices.
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“One claimed to be developing autonomous drone software despite having no employees; another said it operated a publicly-traded in-home bakery ‘specializing in freshly-made cakes and cupcakes’ before saying it pivoted into touch-screen technologies for a ‘diversified blue-chip client base,'” the Post report reads, citing regulatory filings.
The United States does allow shell companies to go public on the market, however, the SEC has lodged accusations against Arc, claiming the Chinese company has a habit of lying to investors about the specifics surrounding operations.
Arc Capital ultimately created Digital World Acquisition with the sole purpose of investing in Trump Media and Technology Group, totaling more than $1.2 billion, cash.
The new Digital World company has been listed as a special purpose acquisition company — a special kind of shell company with the purpose of raising funding for private start-ups. This move would certainly help return Donald Trump to the financial playing board after he recently found himself bumped from the Forbes 400 list as his life continues to fall apart in various ways.
The report notes that the SEC is now looking into the Digital World and Trump media relationship, after taking note of a recent filing.
It’s certainly nothing new for the ex-president’s finances, business dealings and practices, and companies to be buried in investigations stemming from his corruption. However, this does not mean that the Trump Media company has done anything illegal — at least as of yet.
Read the full report from the Washington Post here.
Featured image via Political Tribune gallery
