Article 69X2V Trump Media executives worried over murky $8m loans, emails reveal

Trump Media executives worried over murky $8m loans, emails reveal

by
Hugo Lowell in New York
from US news | The Guardian on (#69X2V)

Exclusive: financing with suspected Russian ties came at a critical time as company was running out of cash after a planned merger

Top executives at Donald Trump's social media company started to become concerned last spring about $8m that they had accepted from opaque entities in two emergency loans when its auditors sought further details about the payments, according to documents, emails and sources familiar with the matter.

The payments had come at a critical time for Trump Media - which runs the Truth Social platform - because it was running out of cash after its planned merger with a blank check company known as DWAC that would have unlocked $1.3bn in capital stalled pending an SEC investigation.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://www.theguardian.com/us-news/rss
Feed Title US news | The Guardian
Feed Link https://www.theguardian.com/us-news
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments