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Trump tried to defraud his truth social business partners

Despot Devin Nunes wants Congress to investigate short selling of the shit company he is the CEO for.

Meanwhile, shares are over $40 now. WTF?! Well, first quarter reporting is due around May, isn't it. Love to see the data supporting the share value.
 
Jimmy Higgins said:
Despot Devin Nunes wants Congress to investigate short selling of the shit company he is the CEO for.

Meanwhile, shares are over $40 now. WTF?! Well, first quarter reporting is due around May, isn't it. Love to see the data supporting the share value.
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It's a test of Trump loyalty.

“Devin Nunes is the proverbial loser who tries to blame ‘naked short selling’ for his falling stock price. Nunes is exactly the type of person Donald Trump would have fired on The Apprentice. If he worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do.”
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Naked Short Selling? Citadel Says DJT Stock CEO Devin Nunes Is Just a ‘Loser.’
 
Trump Media’s accounting firm charged with ‘massive fraud’

BF Borgers, Trump Media & Technology Group’s independent accounting firm, was charged by the Securities and Exchange Commission on Friday with widespread fraud and accused of operating a “sham audit mill.”

The SEC made no allegation of wrongdoing against Truth Social owner Trump Media (DJT), which is not mentioned in the charges from the regulator.

The SEC accused BF Borgers of “deliberate and systemic failures,” including “fabricating” audit documentation and falsely representing to clients its work would comply with accounting standards.

The agency described this as “massive” fraud taking place between January 2021 and June 2023 that impacted more than 1,500 SEC filings and more than 500 public companies.

The SEC imposed a severe penalty against BF Borgers, permanently suspending the firm from practicing as accountants before the agency effective immediately. The firm and its owner, Benjamin Borgers, also agreed to pay $14 million collectively in fines.

“Borgers and his sham audit mill have been permanently shut down,” Gurbir Grewal, director of the SEC’s enforcement division, said in a press release.
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I am completely dogshit ignorant about the stock exchange so I've gotta ask, is there any way of monitoring who purchases or owns these shares? It looks like an easy way of Putin/Bin Salman etc to launder cash to Orange Joffrey.
 
The Art Of Failing At Business
.....
"Trump Media...reported $770,500 in revenue—crediting its “nascent advertising initiative”—down from $1.1 million last year," the report states. "However, it also reported a net loss of $327.6 million during the first three months of the year, as compared with a loss of $210,300 a year ago."
.....

www.rawstory.com

Trump Media reports $327M net loss in 'dire' new filing: analysis

The financial problems plaguing former President Donald Trump's media company and social platform appear not to be getting any better, according to a new analysis.The Daily Beast reported Monday that Trump Media, the publicly traded parent company of Trump Social, reported a net loss of nearly...
www.rawstory.com www.rawstory.com
 
How common is it for a company to start up after going public? There are companies who aren't making a profit, but they have revenue. DJT has almost no revenue. Their plan is to start a streaming company that'll well stream other people's content.
 
And the rats start the sell off for DJT. The problem they are running into is that most of the shares are internally held and demand for the shares isn't exactly sky high, especially when the company isn't worth jack. Shares are still worth $17 which is roughly 1000 times their real world value, excluding share dilution issues.

The only thing of value the company has is a large chunk of money. Otherwise, they are worthless. The cap value of the company is entirely imaginary.
 
TV and credit cards said:
I hope the stock works its way down to its true value by then.
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Zero chance if that. The whole scam is a wide open money laundering scheme to give foreign interests a “legal” way to purchase Trump’s favors. People who lose money don’t care, as long as enough of it ends up in The Donald’s pocket.
 
I'm uncertain why this isn't news. Donald is supposed to be a business man, yet, we are seeing once again, a business plan that is sinking like crazy. Shares are down to their lowest mark since... forever... and they might be that high still because no one wants to buy it at that level. DJT makes virtually no revenue, forget show a profit. And their plan was to become a PlutoTV for far right-wingers. The shares magically started with a value which was unsupported by any market fundamental, and lets not forget the share liquidation that occurred as well. Trump was awarded more shares for the value remaining above a stupid early threshold. It is a massive scam and jail time seems inevitable for the likes of Nunes and the others on the board. But this is getting such little press. In fact, Trump seems to already moved on to a Crypto scam now. I'd feel bad for the Trump fans who were blinded by their irrational devotion to Trump. But I really have no sympathy left for these people that refuse to accept the world for how it is.

The madness is that even at $5 a share, Trump can make a lot of money... if he can off load the shares. The one trouble is with him being the direct owner of the shares, he can't easily sell them without people noticing. Worse, this is almost like a meme stock such as Gamestop in that fair trade value can be made impossible because most of the shares are held internally. So if there aren't enough shares to buy/sell, the price can stagnate, and Trump might be able to sell here, sell there... laundering all sorts of money.
 
Yep, it’s a massive, legal money laundering operation. An altar where sacrifices to the Apricot may be offered without repercussion.
Of course people stop making sacrifices when they stop believing in gods, and they stop donating to Trump via DJT when it starts looking like he’s going to lose. If things don’t look quite rosy the day after the election, it will probably lose ANOTHER 76% of its value. Check it out!
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Jimmy Higgins said:
The madness is that even at $5 a share, Trump can make a lot of money... if he can off load the shares. The one trouble is with him being the direct owner of the shares, he can't easily sell them without people noticing. Worse, this is almost like a meme stock such as Gamestop in that fair trade value can be made impossible because most of the shares are held internally. So if there aren't enough shares to buy/sell, the price can stagnate, and Trump might be able to sell here, sell there... laundering all sorts of money.
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That's assuming a fair market trade. I suspect we will see private deals for his shares as a form of covert payoff.
 
And in other utterly unsurprising news:


Trump hated paying overtime.


“And you know it’s going to lead to great things a lot of people don’t give. I know a lot about overtime. I hated to give overtime, I hated it. I’d get other people,” Trump claimed.


He added, “I shouldn’t say this, but I’d get other people in. I wouldn’t pay. I hated. This is going to lead to a lot more. I think it’s going to be economically positive, but I’m not even doing it for that reason. I’m doing it because like, like the, you know, tax on overtime, it’s something so good.”
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Yes, the champion of the working class right there...
 
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