Elite Money Laundering Unit Investigating Trump's Truth Social Deal

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Donald Trump's Truth Social merger deal with Digital World Acquisition is now under investigation by a team of federal investigators that has been described as "an elite money laundering team." The central focus is whether or not the leader of Digital World broke federal law by announcing a target of their acquisition prior to raising the funds for the project. If so, and signs point to that likely being the case, then the deal would be scrapped and donors would get their money back. Ring of Fire's Farron Cousins explains what's happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Donald Trump's truth. Social has never been on solid footing. I mean, ever since the thing launched, it's basically been hemorrhaging money. At one point last year, they only had enough cash on hand to get through for another couple months, but somehow they've managed to limp along, hoping that eventually that merger deal with Digital World acquisition was going to take place. And unfortunately, for truth social, that deal continuously has been put on hold. And now, according to a massive new report from the Washington Post, we know part of the reason why the deal is on hold. You have investigators teaming up from the FBI, the Securities and Exchange Commission, and the Department of Homeland Security, all of them are now working together to investigate this potential merger. And this team has been described in a new court filing, uh, uh, federal filing, excuse me, as quote, one of the government's most elite anti-money laundering teams.

So they're looking not just at some potential SEC violations, but also at potential money laundering. Now, before I go any further, it's important to remember that so far Donald Trump himself has not been accused of any wrongdoing here. In fact, truth social itself, Trump media and technology that owns truth social has not necessarily been accused of doing anything wrong. Most of what's been accused so far and what's been investigated is what happened with Digital World. And there's two very important pieces to it. The first one is the one that we've known about for quite some time, where you have a man by the name of Patrick Orlando. He is the Chief Executive of Digital World. And the SEC is looking into whether or not Mr. Orlando had been having conversations with Donald Trump or anyone at Trump Media and technology about a potential merger before Digital World raised the funds.

Now, if those conversations did take place prior to the raising of funds, that is illegal. That's a federal crime. You cannot do that when you're an acquisition company like Digital World. You have to raise all the money first. Everybody puts their money into the pot. Then you identify a target. If you identify a target first and then raise money, that's illegal. I, I don't know why. I mean, it kind of does seem a little silly, but those are the laws. That's the rules they have to follow. So Patrick Orlando and Digital World are being investigated. 'cause it really appears based on conversations that they did have talks with Donald Trump about acquiring them before they raised the money. Now the second part, this is an even bigger part, this is the money laundering part. 'cause apparently in order to raise money to merge with, uh, uh, Trump's media and Technology group,