Trump tried to defraud his truth social business partners

[Axulus]

Former President Donald Trump was accused in a lawsuit on Wednesday of trying to "drastically dilute" the value of stock shares in his social media company held by the firm's co-founders, potentially depriving them of hundreds of millions of dollars in profits.

The partnership, United Atlantic Ventures, alleges that Trump Media & Technology Group engaged in "wrongful 11th hour … maneuvering" to dilute UAV's minority stake in the media company, a court filing says.

https://www.cnbc.com/amp/2024/02/29/trump-media-sued-over-dwac-merger-share-dilution.html

Everyone knows or should know he lies, cheats and steals in every aspect of his business dealings. Therefore, anyone who still chooses to do business with him is effectively consenting to that as far as I'm concerned.

 

[barbos]

Everyone knows or should know he lies, cheats and steals in every aspect of his business dealings.

Did Clintons know?

When Hillary and Donald Were Friends (Published 2016)

The story of their transactional relationship offers a window on rarefied New York.

www.nytimes.com

 

[laughing dog]

Former President Donald Trump was accused in a lawsuit on Wednesday of trying to "drastically dilute" the value of stock shares in his social media company held by the firm's co-founders, potentially depriving them of hundreds of millions of dollars in profits.

The partnership, United Atlantic Ventures, alleges that Trump Media & Technology Group engaged in "wrongful 11th hour … maneuvering" to dilute UAV's minority stake in the media company, a court filing says.

https://www.cnbc.com/amp/2024/02/29/trump-media-sued-over-dwac-merger-share-dilution.html

Everyone knows or should know he lies, cheats and steals in every aspect of his business dealings. Therefore, anyone who still chooses to do business with him is effectively consenting to that as far as I'm concerned.

Yeah, it is pretty hard to have any sympathy for anyone who voluntarily has any business dealings with him.

 

[Bronzeage]

The real significance of this lawsuit is it may derail the merger with the SPAC Digital World Acquisition, which would be a huge cash infusion for Trump's organization.

The ultimate "You knew I was a snake when you picked my up" irony is both of the plaintiffs met Donald Trump when they were contestants on The Apprentice.

 

[barbos]

I never understood the logic of having any deals with Trump. Is that you hope that the criminal he is, he would make some money for you too? Maybe on the grand scheme of things Trump is not that more criminal than the rest of these people?
It's just is more visible than with others.

 

[Jimmy Higgins]

Trump desperately needs this. What I don't get is why people would put so much money into a social media site that is rather tiny.

Other than for laundering purposes of course.

 

[ideologyhunter]

Don't bite the hand that feeds the golden goose, because a zebra cannot change its spots.

 

[Elixir]

The ultimate "You knew I was a snake when you picked my up" irony is both of the plaintiffs met Donald Trump when they were contestants on The Apprentice.

The selection process for the TV show virtually guaranteed that they were the sort who wouldn’t hesitate to work with or for a self interested fraudster, and would fall victim themselves.
That was basically the plot line of every episode. I hope all their lawyers live happily ever after.

 

[Ford]

The ultimate "You knew I was a snake when you picked my up" irony is both of the plaintiffs met Donald Trump when they were contestants on The Apprentice.

The selection process for the TV show virtually guaranteed that they were the sort who wouldn’t hesitate to work with or for a self interested fraudster, and would fall victim themselves.
That was basically the plot line of every episode. I hope all their lawyers live happily ever after.

That was the plot line, but there were also people who couldn't care less about the job with Trump, and were just doing it for the exposure of being on a network television show.

 

[Jimmy Higgins]

Don't bite the hand that feeds the golden goose, because a zebra cannot change its spots.

I'll have a mixed metaphor, shaken and stirred.

 

[hurtinbuckaroo]

They literally gave Trump 90% of the company when he signed on with them. But that wasn’t enough.

 

[Elixir]

Anyone who gives anything to that lump of human excrement deserves what they get. Or don’t get, as may be the case.

 

[Bronzeage]

I never understood the logic of having any deals with Trump. Is that you hope that the criminal he is, he would make some money for you too? Maybe on the grand scheme of things Trump is not that more criminal than the rest of these people?
It's just is more visible than with others.

Making money in most business partnerships depend upon the success of the business. Making money in a Trump partnership depends on skimming as much as possible off the initial investment and getting out before it crashes.

 

[bilby]

I never understood the logic of having any deals with Trump. Is that you hope that the criminal he is, he would make some money for you too? Maybe on the grand scheme of things Trump is not that more criminal than the rest of these people?
It's just is more visible than with others.

Making money in most business partnerships depend upon the success of the business. Making money in a Trump partnership depends on skimming as much as possible off the initial investment and getting out before it crashes.

The expressions on Trump's (and Melanoma's) faces when he actually won the Presidency tell the whole story - Winning was never part of the plan. Like all Trump schemes, the idea was to milk a bunch of marks, lose, and bow out gracefully with bulging pockets.

The parallells with Springtime for Hitler are legion, and the jokes practically write themselves.

 

[Shadowy Man]

I never understood the logic of having any deals with Trump. Is that you hope that the criminal he is, he would make some money for you too? Maybe on the grand scheme of things Trump is not that more criminal than the rest of these people?
It's just is more visible than with others.

Making money in most business partnerships depend upon the success of the business. Making money in a Trump partnership depends on skimming as much as possible off the initial investment and getting out before it crashes.

The expressions on Trump's (and Melanoma's) faces when he actually won the Presidency tell the whole story - Winning was never part of the plan. Like all Trump schemes, the idea was to milk a bunch of marks, lose, and bow out gracefully with bulging pockets.

The parallells with Springtime for Hitler are legion, and the jokes practically write themselves.

“Bow out gracefully”. Haha… it was clear he was going to bitch and moan about the election being rigged just like he did in 2020. Then he could continue to grift off all his supporters just as he is doing now.

 

[bilby]

I never understood the logic of having any deals with Trump. Is that you hope that the criminal he is, he would make some money for you too? Maybe on the grand scheme of things Trump is not that more criminal than the rest of these people?
It's just is more visible than with others.

Making money in most business partnerships depend upon the success of the business. Making money in a Trump partnership depends on skimming as much as possible off the initial investment and getting out before it crashes.

The expressions on Trump's (and Melanoma's) faces when he actually won the Presidency tell the whole story - Winning was never part of the plan. Like all Trump schemes, the idea was to milk a bunch of marks, lose, and bow out gracefully with bulging pockets.

The parallells with Springtime for Hitler are legion, and the jokes practically write themselves.

“Bow out gracefully”. Haha… it was clear he was going to bitch and moan about the election being rigged just like he did in 2020. Then he could continue to grift off all his supporters just as he is doing now.

Fair enough. He was more likely to bow out gracelessly in a way that would help him continue to scam everyone.

Doesn't change my central point. He planned to lose. Winning has fucked him over massively, and he is still trying to find a way to recover from that unexpected disaster.

Winning is something with which he lacks experience.

 

[Ford]

Trump desperately needs this. What I don't get is why people would put so much money into a social media site that is rather tiny.

Other than for laundering purposes of course.

So it looks like Trump is set to get about $3 billion from his "wildly popular" social media site/company going public, and while I'm no financial expert, it stinks to high heaven.

Dude, Seriously?

According to a preliminary vote total announced during the meeting, a majority of shareholders of Digital World Acquisition Corp. voted in favor of the deal to merge with Trump Media. The companies have indicated the merger could close as soon as early next week.

The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. It will own Trump’s struggling social media platform Truth Social.

Now, I realize it's an apples/oranges comparison, but Truth Social has around 5 million users. Are they all real people and not bots like with Twitter/X? Let's assume against all odds that they are. Is 5 million a lot? More importantly, is it worth $3 billion?

One of the YouTube channels I watch pretty regularly is Doug DeMuro. He reviews cars. No big production values like some other channels, just a quirky guy reviewing the "quirks and features" of new or interesting cars. He has (at last count) just under 5 million subscribers, and has branched out into actually selling cars with an online auction site. Cars & Bids has done - according to a quick Google search - about $230 million in business. Good enough to net him a $37 million dollar cash infusion from and investment group.

One guy...5 million subs...$37 million dollars. Meanwhile,

One guy...5 million users...$3 BILLION?

How is this not just a massive scam?

 

[bilby]

One guy...5 million subs...$37 million dollars. Meanwhile,

One guy...5 million users...$3 BILLION?

How is this not just a massive scam?

Well, it depends whether your valuation is for tax purposes, or to secure a loan.

(For example, a loan to pay a bond, to avoid having your property seized for the crime of fraudulently misrepresenting valuations in order to secure loans (for example...) )

It's a standard ploy used by gangsters; You can't be brought to book for fraud if you can fraudulently obtain the money necessary to cover the bond, just as you can't be convicted of murder if all the witnesses are dead.

 

[Jimmy Higgins]

Trump desperately needs this. What I don't get is why people would put so much money into a social media site that is rather tiny.

Other than for laundering purposes of course.

So it looks like Trump is set to get about $3 billion from his "wildly popular" social media site/company going public, and while I'm no financial expert, it stinks to high heaven.

Dude, Seriously?

According to a preliminary vote total announced during the meeting, a majority of shareholders of Digital World Acquisition Corp. voted in favor of the deal to merge with Trump Media. The companies have indicated the merger could close as soon as early next week.

The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. It will own Trump’s struggling social media platform Truth Social.

Now, I realize it's an apples/oranges comparison, but Truth Social has around 5 million users. Are they all real people and not bots like with Twitter/X? Let's assume against all odds that they are. Is 5 million a lot? More importantly, is it worth $3 billion?

One of the YouTube channels I watch pretty regularly is Doug DeMuro. He reviews cars. No big production values like some other channels, just a quirky guy reviewing the "quirks and features" of new or interesting cars. He has (at last count) just under 5 million subscribers, and has branched out into actually selling cars with an online auction site. Cars & Bids has done - according to a quick Google search - about $230 million in business. Good enough to net him a $37 million dollar cash infusion from and investment group.

One guy...5 million subs...$37 million dollars. Meanwhile,

One guy...5 million users...$3 BILLION?

How is this not just a massive scam?

Indeed. That $3 billion is also his cut. The deal is for around twice that! A company with no profit, nor a plan. It smells so much like a laundering scheme.

 

[TomC]

Indeed. That $3 billion is also his cut. The deal is for around twice that! A company with no profit, nor a plan. It smells so much like a laundering scheme.

Really this.
If you want to reward or curry favor from Trump for special treatment, but don't want to make a "donation", just do a very stupid business deal. One he benefits from and knows it was you. And you can take a tax write off, so the US taxpayer pays a ton of it.

Easy Peasy.
Tom