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Digital World Acquisition Corp (DWAC)

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Digital World Acquisition Corp. (Nasdaq:DWACU) ("Digital World" or the "Company") announced today the closing of its initial public offering of 25,000,000 units at $10.00 per unit. Each unit consists of one share of the Company's Class A common stock and one half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. The underwriters exercised their over-allotment option in full for an additional 3,750,000 units at the time of the closing of the Offering. As a result, the aggregate gross proceeds of the offering, including the over-allotment, are $287,500,000, prior to deducting underwriting discounts, commissions and other offering expenses.
Our Vision

In the year 2021, the media pendulum has swung dangerously far to the left. Silicon Valley, the mainstream media, and Big Tech have begun to forcibly silence voices that do not align with their woke ideology. Big Tech platforms demonetize, throttle, and cancel those who stray from the mainstream narrative. They are not just censoring content – they are determining what can and cannot be said. By controlling how information is shared, they control the narrative. They control the future. They control you.

To counter this dangerous exercise of Big Tech monopoly power, President Donald J. Trump and TMTG are building a media and technology company rooted in social media, digital streaming, and more. TMTG intends to even the playing field by providing people with open media platforms where they can share and create content without fear of reputational ruin.

Join us.

General Terms and Effects

On October 20, 2021, Digital World Acquisition Corp., a Delaware corporation (together with its successors, “DWAC”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with DWAC Merger Subsidiary Inc., a Delaware corporation and newly formed wholly-owned subsidiary of DWAC (“Merger Sub”), ARC Global Investments II, LLC, a Delaware limited liability company (“Sponsor”), solely in the capacity as the representative from and after the effective time of the Merger (as defined below) (the “Effective Time”) for the stockholders of DWAC (other than the TMTG Security Holders (as defined below) (the “Purchaser Representative”), Trump Media & Technology Group Corp., a Delaware corporation (“TMTG”), and the TMTG’s Chief Legal Officer solely in her capacity as the representative from and after the Effective Time for the TMTG’s Security Holders (the “Seller Representative”).

Pursuant to the Merger Agreement, subject to the terms and conditions set forth therein, (i) upon the consummation of the transactions contemplated by the Merger Agreement (the “Closing”), Merger Sub will merge with and into TMTG (the “Merger” and, together with the other transactions contemplated by the Merger Agreement, the “Transactions”), with TMTG continuing as the surviving corporation in the Merger and a wholly-owned subsidiary of DWAC. In the Merger, (i) all shares of TMTG common stock (together, “TMTG Stock”) issued and outstanding immediately prior to the Effective Time (other than those properly exercising any applicable dissenters rights under Delaware law) will be converted into the right to receive the Merger Consideration (as defined below); (ii) each outstanding option to acquire shares of TMTG common stock (whether vested or unvested) will be assumed by DWAC and automatically converted into an option to acquire shares of DWAC common stock, with its price and number of shares equitably adjusted based on the conversion ratio of the shares of TMTG common stock into the Merger Consideration and (iii) each outstanding restricted stock unit of TMTG shall be converted into a restricted stock unit relating to shares of DWAC common stock. At the Closing, DWAC will change its name to “Trump Media & Technology Group Corp.

Merger Consideration

The aggregate merger consideration to be paid pursuant to the Merger Agreement to holders of TMTG Stock as of immediately prior to the Effective Time (“TMTG Stockholders” and, together with the holders of TMTG options and restricted stock units immediately prior to the Effective Time, the “TMTG Security Holders”) will be an amount equal to $875,000,000, subject to adjustments for TMTG’s closing debt, net of cash and unpaid transaction expenses (the “Merger Consideration”), plus the additional contingent right to receive the Earnout Shares (as defined below) after the Closing, as described below. The Merger Consideration to be paid to TMTG Stockholders will be paid solely by the delivery of new shares of DWAC common stock, with each valued at the price per share (the “Redemption Price”) at which each DWAC share of common stock is redeemed or converted pursuant to the redemption by DWAC of its public stockholders in connection with DWAC’s initial business combination, as required by DWAC’s amended and restated certificate of incorporation and by-laws and DWAC’s initial public offering prospectus (the “Redemption”). The Merger Consideration will be subject to a post-Closing true up 90 days after the Closing.

The Merger Consideration will be allocated among the holders of TMTG’s common stock, pro rata amongst them based on the number of shares of TMTG common stock owned by such stockholder provided, however, that the Merger Consideration otherwise payable to TMTG Stockholders is subject to the withholding of the Escrow Shares (as defined below) and is subject to reduction for indemnification obligations and purchase price adjustments.

Escrow Shares

At the Closing, five percent (5%) of the Merger Consideration (the “Escrow Shares”) otherwise issuable to the TMTG Stockholders (allocated pro rata among the TMTG Stockholders based on the Merger Consideration otherwise issuable to them at the Closing) will be deposited into a segregated escrow account with Continental Stock Transfer & Trust Company (or such other escrow agent reasonably acceptable to DWAC and TMTG), as escrow agent, and held in escrow together with any dividends, distributions or other income on the Escrow Shares (the “Escrow Property”) in accordance with an escrow agreement to be entered into in connection with the Transactions (the “Escrow Agreement”). The Escrow Property will be held in the escrow account for a period of twelve (12) months after the Closing as the sole and exclusive source of payment for any post-Closing purchase price adjustments and indemnification claims (other than fraud claims (as described below). The TMTG Stockholders will have the right to vote the Escrow Shares while they are held in escrow.

Earnout

In addition to the Merger Consideration set forth above, the TMTG Stockholders will also have a contingent right to receive up to an additional 40,000,000 shares of DWAC common stock (the “Earnout Shares”) after the Closing based on the price performance of the DWAC common stock during the three (3) year period following the Closing (the “Earnout Period”). The Earnout Shares shall be earned and payable during the Earnout Period as follows:

   

if the dollar volume-weighted average price (“VWAP”) of DWAC’s common stock equals or exceeds $15.00 per share for any 20 trading days within any 30 trading day period, the Purchaser shall issue to the TMTG Stockholders an aggregate of 15,000,000 Earnout Shares;

   

if the VWAP of DWAC’s common stock equals or exceeds $20.00 per share for any 20 trading days within any 30 trading day period, the Purchaser shall issue to the TMTG Stockholders an aggregate of 15,000,000 Earnout Shares; and

 
   

if the VWAP of DWAC’s common stock equals or exceeds $30.00 per share for any 20 trading days within any 30 trading day period, the Purchaser shall issue to the TMTG Stockholders an aggregate of 10,000,000 Earnout Shares.

If there is a final determination that the TMTG Stockholders are entitled to receive Earnout Shares, then such Earnout Shares will be allocated pro rata amongst the TMTG Stockholders. The number of shares of DWAC common stock constituting any earnout payment shall be equitably adjusted for stock splits, stock dividends, combinations, recapitalizations and the like after the Closing.
 

STATEMENT FROM TRUMP

Last week, I announced the creation of a major new company that will challenge the dominance of the Big Tech giants and Big Media bosses. Today I want to explain more about what I am doing and why. For me, this endeavor is about much more than politics. This is about saving our country.

America has always been a nation of smart, spirited, and independent people who take pride in thinking for themselves. We admire those who aren’t afraid to speak their minds, or go against the tide. Yet suddenly, we find ourselves being censored and dictated to by a small group of self-righteous scolds and self-appointed arbiters of what everyone else is allowed to think, say, share, and do.

Nowhere is this censorship more dangerous and brazen than on social media, the public square of our times. We have seen renowned medical doctors being banned from platforms for contradicting “health authorities” or questioning the political narrative of the moment. We’ve seen scientists blacklisted for sharing evidence that the pandemic began in a Chinese lab. We’ve seen vital reporting about Joe and Hunter Biden’s foreign business dealings—information that voters needed and deserved to hear—ruthlessly suppressed and erased from the internet just weeks before a presidential election. And as everyone knows, we’ve seen a sitting president of the United States effectively silenced by a small oligarchy of tech titans and “mainstream” media corporations.

The corruption of these platforms cannot be ignored. We have fallen far down the “slippery slope” of censorship in our country, and the topics that Americans are increasingly forbidden to debate are among the most important issues of our day.

This wildly aggressive censorship and “cancel-culture” is not only un-American—it has direct, real-world consequences. Most obvious are the many catastrophes unfolding under the current administration: the calamitous Afghanistan withdrawal, the disaster at the Southern Border, runaway inflation, and the multi-trillion-dollar socialist spending nightmare, just to name a few. In a country that had free speech and a free flow of information, none of this would ever have happened—and no one understands that better than the people doing the censoring.

Yet the silencing and cancellation also affects our country in more subtle, but equally destructive, ways. How many Americans no longer trust a word they hear from their leaders, media, or public health officials, because the one thing they know for certain is that they are not getting the full story? How many ordinary citizens have sadly come to resent their neighbors, feeling that they now live in two entirely different realities? And how many millions of Americans silently oppose so much of the nonsense being inflicted on us, but see the heavy hand of the cancelers, and conclude that their voice can make no difference, or that the cost of speaking up is just too high?

The new age of censorship is a disaster for our country. Things were far better in the days when we had our debates fiercely and openly, and then we could move forward together, as Americans, with both sides knowing that their voice, and their best arguments, had been heard.

The more I looked into this problem, the more I realized that to restore free speech, a major new platform would have to enter the market, with an ironclad commitment to protecting vigorous debate from all sides. But since it is both hard and expensive to build a new platform totally independent of Big Tech’s infrastructure, it would have to be an extremely well-funded, multi-year undertaking. In addition, such a platform would need the ability to rapidly attract millions of users, welcoming not only Republicans to join, but Independents and Democrats as well.

It’s a tremendously difficult set of challenges—and I realized I might be the only person in America with the megaphone, the resources, the experience, and the desire to make it all happen.So with the same “can-do” spirit that has always allowed Americans to persevere, that is exactly what I am doing.

To take on Big Tech censorship, we are creating a “Big Tent” platform: Truth Social. We are inviting people of all political stripes, and all different viewpoints, to come and participate once again in the great American debate. That’s what our country is supposed to be about. Unlike with the Big Tech platforms, there will be no shadow-banning, throttling, demonetizing, or messing with algorithms for political manipulation. We will not be treating users like lab rats for social experiments, or labeling alternative views as “disinformation.” We will not silence our fellow citizens simply because they might be wrong—or worse, because we think that Americans “can’t handle the truth.”

It will be as free, vibrant, lively, and diverse as America itself. And Truth Social is only the beginning of our plans. The Trump Media and Technology Group will also be launching an on-demand video streaming service that competes with the increasingly “woke” and politicized ‘entertainment’ programming created by Big Tech and Big Media players. TMTG also sees opportunities to create “cancel-proof” alternatives in other key areas ranging from web services to payment processing.

In the end, a small number of powerful people who all think the same and wish to silence anyone who thinks differently cannot be trusted to control almost every major media, technology, and entertainment company in America. I am determined to break their chokehold over the voices of the American People—not just for myself and my own supporters, but for the United States of America!


END Section maintained by FFFACTS


This section is managed by zapalny74
                                                                                                                   

About Digital World Acquisition Corp

Digital World Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While we may pursue an initial business combination target in any business or industry, we intend to focus on combining with a leading tech company.

About DWAC
 

Patrick Orlando  Chairman & CEO

 
 
                                                                                                                                                                             Pat Orlando_edited.jpg
 

                                                       Founder & CEO of Benessere Investment Group

                                               Chairman & CEO of Benessere Capital Acquisition Corp.

                                                         Director of Maquia Capital Acquisition Corp.

                                        Former Head of Structuring & Derivatives BT Capital Markets LLC

                                       Former Director of Emerging Markets Derivatives at Deutsche Bank

                                     Degrees in Mechanical Engineering and Management Science from MIT

 

Board Expertise: 
extensive investment experience,
science and engineering background,
experience as CEO and board member of several special purpose acquisition companies.

                                                                                                                                                                   


                                                                                                                                                       TMTG Press Release
 

PALM BEACH, FL -- October 20, 2021 -- Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ: DWAC) have entered into a definitive merger agreement, providing for a business combination that will result in Trump Media & Technology Group becoming a publicly listed company, subject to regulatory and stockholder approval.  The transaction values Trump Media & Technology Group at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion depending on the performance of the stock price post-business combination. Trump Media & Technology Group’s growth plans initially will be funded by DWAC’s cash in trust of $293 Million (assuming no redemptions).

Trump Media & Technology Group's mission is to create a rival to the liberal media consortium and fight back against the "Big Tech” companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.

Trump Media & Technology Group (“TMTG”) will soon be launching a social network, named "TRUTH Social."  TRUTH Social is now available for Pre-Order in the Apple App store.  TRUTH Social plans to begin its Beta Launch for invited guests in November 2021.  A nationwide rollout is expected in the first quarter of 2022.  Those who are interested in joining TRUTH Social may now visit www.truthsocial.com to sign up for the invite list.  

President Donald J. Trump, the Chairman of TMTG, stated, “I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech. We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable. I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all. I'm excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech. Everyone asks me why doesn’t someone stand up to Big Tech? Well, we will be soon!”

Patrick F. Orlando, Chairman/CEO of DWAC, stated, "Digital World was formed to create public shareholder value and we believe that TMTG is one of the most promising business combination partners to fulfill that purpose.  DWAC currently has $293 Million in trust, assuming minimal redemptions, which can fuel TMTG’s scale up, including to provide world class leading technology services to build strong and secure social networks and diverse media offerings. Given the total addressable market and President Trump’s large following, we believe the TMTG opportunity has the potential to create significant shareholder value.”

Additionally, TMTG intends to launch a subscription video on demand service (TMTG+). TMTG+ will feature 'non-woke' entertainment programming, news, podcasts, and more.  TMTG has named Scott St. John as the leader of TMTG+ Corporate Operations.  Scott St. John is the Executive Producer of “Deal or No Deal’ and “America’s Got Talent” and has produced over 1,000 hours of Network and Cable TV.

Please visit TMTG’s corporate website at www.tmtgcorp.com for a Company Overview, and a video tour of TRUTH Social.

Transaction Overview:  

The transaction is subject to approval by stockholders of DWAC and TMTG and other customary closing conditions, including any applicable regulatory approvals. Additional information about the transaction will be provided in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission ("SEC") and available at www.sec.gov. In addition, the Company intends to file a registration statement on Form S-4 with the SEC (the “Registration Statement”), which will include a proxy statement/prospectus of DWAC, and will file other documents regarding the proposed business combination with the SEC.

Advisors

EF Hutton is acting as sole financial and capital markets advisor to DWAC.  

Additional Information and Where to Find It

In connection with the merger agreement and the proposed business combination, the Company intends to file with the SEC a Registration Statement, which will include a preliminary proxy statement/prospectus and a proxy statement/prospectus.  The Company’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and documents incorporated by reference therein filed in connection with the business combination, as these materials will contain important information about the Company, TMTG, the Merger Agreement and the Business Combination. When available, the definitive proxy statement/prospectus and other relevant materials for the business combination will be mailed to stockholders of the Company as of a record date to be established for voting on the business combination. Stockholders of the Company will also be able to obtain copies of the Registration Statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s web site at www.sec.gov, or by directing a request to: Digital World Acquisition Corp., 78 SW 7th Street, Miami, FL 33130.

Participants in the Solicitation

DWAC, TMTG and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from the Company’s stockholders with respect to the proposed business combination. Investors and securityholders may obtain more detailed information regarding the names and interests in the business combination of the Company’s directors and officers in the Company’s filings with the SEC, including the Registration Statement, and such information with respect to TMTG’s directors and executive officers will also be included in the Registration Statement.

Forward Looking Statements

This Current Report on Form 8-K contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed Business Combination between TMTG and the Company, including without limitation statements regarding the anticipated benefits of the Business Combination, the anticipated timing of the Business Combination, the implied enterprise value, future financial condition and performance of TMTG and the combined company after the Closing and expected financial impacts of the Business Combination, the satisfaction of closing conditions to the Business Combination, the level of redemptions of the Company’s public stockholders and the products and markets and expected future performance and market opportunities of TMTG. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

Many factors could cause actual future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including but not limited to: (i) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of the Company’s securities, (ii) the risk that the business combination may not be completed by the Company’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by the Company, (iii) the failure to satisfy the conditions to the consummation of the business combination, including the approval of the merger agreement by the stockholders of the Company, (iv) the lack of a third-party fairness opinion in determining whether or not to pursue the proposed business combination, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vi) the failure to achieve the minimum amount of cash available following any redemptions by Company stockholders; (vii) redemptions exceeding a maximum threshold or the failure to meet The Nasdaq Stock Market’s initial listing standards in connection with the consummation of the contemplated transactions; (viii) the effect of the announcement or pendency of the business combination on TMTG’s business relationships, operating results, and business generally, (ix) risks that the proposed Business Combination disrupts current plans and operations of TMTG, (x) the outcome of any legal proceedings that may be instituted against TMTG or against the Company related to the merger agreement or the proposed business combination, (xi) changes in the digital advertising markets in which TMTG competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (xii) changes in domestic and global general economic conditions; (xiii) risk that TMTG may not be able to execute its growth strategies; (xiv) risks related to the ongoing COVID-19 pandemic and response; (xv) risk that TMTG may not be able to develop and maintain effective internal controls; (xvi) costs related to the business combination and the failure to realize anticipated benefits of the business combination or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions, and (xvii) and those factors discussed in the Company’s filings with the SEC and that that will be contained in the Registration Statement relating to the proposed business combination. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the Registration Statement and other documents to be filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while TMTG and the Company may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Neither of TMTG or the Company gives any assurance that TMTG or the Company, or the combined company, will achieve its expectations.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

About Digital World Acquisition Corp. (NASDAQ: DWAC)

Digital World Acquisition Corp. (NASDAQ: DWAC) completed its initial public offering in September 2021, raising approximately USD 293 Million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Digital World’s strategy is to identify and complete business combinations with technology-focused, market leading companies. For more information, please visit www.dwacspac.com

 

Contact Information

For TMTG:

Lori Heyer

investorrelations@tmtgcorp.com

 

Media Relations:

Roma Daravi

press@tmtgcorp.com

 

For DWAC:

Investor Relations:

Name: Alex Cano

Email: investorrelations@dwacspac.com

 

Media Relations:

Name: D. Campbell

Email: media@dwacspac.com

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Press Releases

Look for upcoming announcements and news here

Oct 20, 2021

Press Release

PALM BEACH, FL -- October 20, 2021 -- Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ:DWAC) have entered into a definitive merger agreement, providing for a business combination that will result in Trump Media & Technology Group becoming a publicly listed company, subject to regulatory and stockholder approval.





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This section managed by Hattori Hanzo 

BUYER BEWARE
 

Donald Trump is the chariman of the merging company, which means in all likelihood, he will run this business into the ground and make off with the money, as is his M.O.

Lets revisit some now defunct Trump businesses which he has failed miserably with:

TRUMP AIRLINES 1988 (and subsequently TRUMP SHUTTLES):  2 years in, wasn't making enough money to cover the $1mil interest payment on the initial $245mil loan. The company went defunct and was surrendered to his creditors

TRUMP BEVERAGES:  Trump Fire (2004); never made it to market. Trump Power (2004); both trademark applications were abandoned in 2006. Trump American Pale Ale had the trademark cancelled in 2007.

TRUMP THE GAME 1988: Sold less than half of the expected volume and was discontinued in 1990, a re-release in 2004 quickly went out of circulation as well

TRUMP CASINOS: Filed for BANKRUPTCY on the Atlantic City properties THREE TIMES. The Taj Mahal in 1991, $3 BILLION in debt after ONE YEAR of operation. 2004 again for the Taj Mahal, as well as Trump Marina casino and Trump Plaza casino for debt of $1.8 BILLION. This bankruptcy was followed by reorganization named Trump Resorts Entertainment, which missed a $53.1mil bond interest payment, the company delcared bankruptcy and Trump stepped down as chairman, in other words, HE QUIT

TRUMP MAGAZINE 2007:  Folded by 2009

TRUMP MORTGAGE 2006:  Experts predicted $3BILLION in business in the first year, he achieved less than a third of that and went out of business in 2007. This company has also never paid a settlement awarded to an employee in the amount of $298,274 or it's unpaid taxes of $3,555 (not very baller of a supposed rich person)

TRUMP STEAKS:  During the second Atlantic City bankruptcy, Trump owed a Georgia company over $715,000 for meats, struck a deal to sell through Sharper Image, sold less than $50,000 worth of steak and it was pulled from shelves within 2 MONTHS

TRUMP TRAVEL:  Launched in 2006, folded in 2007

TRUMPNET:  Corporate telecom service in 1990, never got off the ground and was abandoned in 1992

TRUMP TOWER TAMPA:  52 story tower in Tampa, the developers of which he sold his name to for $2mil. The project failed in 2008, people lost thousands in down payments, sued Trump for misleading them, he settled with many

TRUMP UNIVERSITY:  Sold memberships for upwards of $35,000 for "hand picked" instructors. They ended up being motivational speakers, often with no degress, and sometimes with criminal records. There are 2 class action lawsuits ongoing in California and a $40MIL suit in NY filed by an AG there. 

TRUMP VODKA:  Launched in 2006, trademark abandoned in 2008, out of circulation in 2011

NOW LETS EXPLORE HIS PAST AND PENDING LEGAL MATTERS, UNRELATED TO POLITICS 


1973:  Trump vs. The US DOJ:  His real estate company was sued by the Civil Rights division for preventing people of color from renting properties, he settled in 1975

1983:  Trump vs. Central Park South Tenants:  It was alleged that he was trying to force out rent-controlled tenants in order to demolish the building. Settled in 1986 with the tenants and the buildings remaining, and the business saavy Trump forced to pay over a half a million dollars for THEIR lawyers

1986:  Trump vs. NFL:  He convinced his partners in the USFL to sue the NFL for antitrust violations in the amount of $1.7 BILLION. He actually won this lawsuit, in the amount of $3, yes, three dollars, oh, and the USFL went belly up as a result

1990:  Trump vs. Marvin Roffman:  Roffman was fired from his company after he predicted the Taj Mahal would fail publicly, Roffman filed a $2mil defamation suit, which was settled privately for an undisclosed amount that left Roffman "very happy"

1992:  Trump vs. Palm Beach County:  This is the Mar-A-Lago thing that forced him to turn it into a private club after being denied permission to renovate it into a bunch of rentable mini-mansions

1995:  Trump vs. Palm Beach County (again):  Trump sued the county claiming harassment of his guests due to the county directing air traffic over his property. This was settled and the county agreed to lease some of the property for a golf course

1997:  Trump vs. Jill Harth:  Sexual Harassment suit brought against Trump, settled for an undisclosed amount

2006:  Trump vs. Warner Books:  Trump accused defandants of libel for suggesting he was a millionaire and not a billionaire. This case was thrown out and the appeal was rejected.

2010:  Trump vs. Tarla Makaeff and Art Cohen:  2 Trump University "students", Makaeff sued him as the head of a class action suit accusing him of FRAUD and FALSE ADVERTISING. Art Cohen sued him as the head of another class action accusing him of RACKETEERING. Trump paid out $25 MILLION to settle these

2013:  Trump vs. NY AG:  Trump was used by the State of New York, repped by the AG, for $40 MILLION related to the Trump University scam. Specifically for DECEPTIVE CONDUCT and FRAUD. The Supreme Court eventually found him PERSONALLY LIABLE for the damages
 

LET US LOOK AT SOME PENDING LEGAL ISSUES
The following list contains pending legal actions where TMTG Chairman Donald J Trump is the accused and therefore on topic for this board

 

E. Jean Carroll Defamation Suit

Carroll v. Trump, No. 20-cv-07311, 2020 WL 6277814 (S.D.N.Y. Oct. 27, 2020), appeal docketed, No. 20-03977 (2d Cir. Nov. 25, 2020)

Plaintiff: E. Jean Carroll, a journalist and advice columnist

Case Summary: In 2019, Carroll publicly accused then-President Trump of sexually assaulting her in a New York City department store in the 1990s. A few hours later, Trump denied Carroll’s allegation and accused her of fabricating the story to drum up publicity for her upcoming book. Carroll then sued Trump for defamation in New York state court, alleging that Trump defamed her when he publicly accused her of falsifying the assault story.

After nearly a year of state court proceedings–and with Carroll’s counsel angling to sample Trump’s DNA–the Justice Department moved to intervene on Trump’s behalf under the Federal Tort Claims Act (FTCA). This move threatened to quash the suit. In effect, the FTCA (as amended by the Westfall Act) provides blanket immunity to federal employees who commit certain torts–including defamation–arising out of their official duties. According to the DOJ, the president’s official duties include speaking to the press about public matters–which would mean that Trump had immunity from any defamatory statements he made about Carroll.

The DOJ’s intervention also derailed the state court proceedings: because FTCA claims must be litigated in federal court, Carroll’s suit was automatically removed to the Southern District of New York (SDNY). In federal court, Carroll argued that Trump’s statements were not protected by the FTCA. In short, Carroll contended that (i) Trump was not covered by the FTCA because the president is not an “employee”; and (ii) Trump’s statements about Carroll fell outside his official presidential duties.

On both counts, the court agreed. Though removal was irreversible, the court held that the FTCA did not cover Trump’s actions, so Carroll’s defamation suit could proceed against Trump in his personal capacity. Acting separately, the DOJ and Trump both appealed. Trump also requested the court stay the district court proceedings until that appeal is resolved. 

Case Status: In the SDNY proceedings, the parties filed opposing memoranda on Trump’s motion to stay in December 2020.

At the Second Circuit, the DOJ and Trump filed separate opening briefs on Jan. 15, 2021. Carroll’s attorneys then requested an Apr. 16, 2021 due date for their brief. Notably, her counsel explicitly selected that date so the Biden DOJ would have time to reassess the Trump administration’s position that Trump was acting within the scope of his employment when he allegedly defamed Carroll. The Second Circuit granted that scheduling request.

Update: Carroll filed her brief on Apr. 16, 2021, urging the appeals court to uphold the decision below.

Update: Despite the change in administration, the Biden DOJ filed a reply brief on June 7, 2021, that backed Trump’s argument that the FTCA covered his conduct. It echoed the core arguments from the Trump DOJ’s opening brief that the president is an “employee” under the FTCA and that elected officials act within the scope of their employment when they respond to media inquiries.

Update: On Sept. 15, 2021, the district court denied Trump’s motion to stay (i.e., halt) the proceedings while the case is on appeal before the Second Circuit.

Update: The Second Circuit argument is scheduled for Dec. 3, 2021.


Summer Zervos Defamation Suit

Zervos vs. Trump, No. 150522/2017 (N.Y. Sup Ct. Jan. 17, 2017), appeal docketed, No. APL-2020-00009 (N.Y. Mar. 9, 2020)

Plaintiff: Summer Zervos, former contestant on the Apprentice

Case Summary: On Jan. 17, 2017, Zervos filed a suit in New York State Court against Trump for defamation. During Trump’s campaign, many women, including Zervos, accused Trump of inappropriate sexual conduct. In her complaint against Trump, Zervos claims that in 2007, while she sought employment from Trump, he kissed her on the lips and touched her inappropriately. After she rejected his advances, his attitude became very business-like and he later offered her a job for half the salary she was seeking. She attempted to contact Trump, noting that she felt she was being “penalized for not sleeping with him.” Trump said he could not discuss it with her at the time. Zervos says she decided to come forward with these allegations after the Billy Bush Access Hollywood Tape showed Trump speaking in a derogatory manner toward women. In response to her allegations, Trump claims she was lying and was only making these accusations to help the Clinton campaign or to get fame. 

Zervos alleges that, as a result of Trump’s claims, she has suffered both emotional and financial harm.

Case Status: Trump filed a motion to dismiss and a stay for the duration of his presidency. On Oct. 3, 2018, the court denied Trump’s motion, finding that, if the facts alleged by the plaintiff are true, she has a reasonable claim to recover for defamation. The court also found that there were no federalism or comity concerns that would suggest that a state court could not hear suit against the sitting president for nonofficial acts. A panel of New York appellate judges affirmed this judgment in October 2019, finding that the president is “not above the law” and that the defamation suit can go forward.

This motion has been appealed to the New York Court of Appeals, the highest New York state court. 

Pending the decision from the New York Court of Appeals, in March 2020, the court ruled that Zervos cannot “dig for evidence” in the interim. In 2021, with Trump out of office, Zervos has filed a motion to move the lawsuit forward. 

Update: On Mar. 30, the New York Court of Appeals denied Trump’s appeal on his motion to dismiss the case. Trump originally filed the motion claiming that a state court could not hear a suit against a sitting president. The court stated, in a one-sentence order, that issues were now moot, and the case can now go forward. 

Update: On Oct. 4, 2021, the trial court ruled that Zervos could depose Trump before Dec. 23, 2021. According to Law360, this appears to be the “first time that Trump would have to answer questions under oath about his alleged sexual misconduct.” In discussing the schedule for depositions, Michael Rand, a law clerk for New York State Judge Jennifer Schechter, who is overseeing the lawsuit, reportedly “said he expected a trial date to be set sometime in the early part of 2022.”


 Mary Trump Fraud Litigation

Trump v. Trump, No. 654698/2020 (N.Y. Sup. Ct. filed Sept. 24, 2020)

Plaintiff: Mary Trump, the former president’s niece

Case Summary: In September 2020, Mary Trump sued Donald Trump, her uncle, for allegedly defrauding her out of tens of millions of dollars. When Mary’s father–Donald Trump’s brother–died in 1981, he left Mary a valuable stake in the Trump property empire. Mary was a minor at the time, so Donald Trump and his siblings took control of her share, ostensibly to look after Mary’s interest over the long run. 

But according to Mary, that didn’t happen. In her lawsuit, she alleges that the Trump siblings siphoned off revenue from her share and set up an ongoing scheme to artificially devalue her assets. This went on for nearly two decades. Then, when Trump patriarch Fred Sr. (Donald Trump’s father) died in 1999, Mary took issue with the terms of his will. The Trump siblings immediately pushed back and started maneuvering to force Mary out of the family holdings altogether. After lengthy probate proceedings, and with Mary’s legal fees steadily climbing, the siblings delivered an ultimatum: they would not settle the probate case unless Mary relinquished all interests in the family fortune, including those from her late father.

According to Mary, the Trumps offered a settlement figure that woefully undervalued her share of the family holdings. Still, she ultimately accepted a settlement in April 2001, apparently still unaware she was being sold short.

Then, over fifteen years later, the New York Times broke its 2018 story that the Trump Organization had long been fraudulently manipulating the values of its assets. From there, Mary says she realized that she had settled for tens of millions of dollars less than what her stake was actually worth.

Two years later, Mary published a book accusing the Trumps of shorting her out of her rightful share. She then filed this lawsuit in New York state court on Sept. 24, 2020, accusing Donald Trump and his siblings of fraud and breach of fiduciary duty. 

Case Status: Trump moved to dismiss the case on Jan. 4, 2021. Mary filed a response on Feb. 26, 2021. As of September 2021, the court has not yet ruled on the motion.

Update: On Sept. 21, 2021, Donald Trump filed his own lawsuit against Mary Trump, the New York Times, and several of its reporters. Mr. Trump alleges that his niece provided confidential documents–including his tax records–to the NYT reporters, who then used those documents to write their 2018 story on the Trump Organization’s alleged manipulation of asset prices. He asserts that her conduct breached their 2001 settlement, and that the Times and its reporters should be liable for encouraging her to do so.


 Doe v. The Trump Corporation Class Action

Doe v. Trump Corp., No. 18-cv-09936 (S.D.N.Y. Oct 29, 2018), appeal docketed, No. 20-01706 (2d Cir. May 28, 2020)

Plaintiffs: (Anonymous) Jane Doe, Luke Loe, Mary Moe, Richard Roe

Case Summary: On Oct. 30, 2018, a class action lawsuit was filed against the Trump Corporation, Donald Trump, Ivanka Trump, Donald Trump Jr., and Eric Trump. The complaint alleges that the defendants used their brand name to defraud thousands of working class individuals by promoting numerous businesses in exchange for “secret payments.” The companies include ACN Opportunity, LLC (a business based on a controversial multi-level marketing scheme), the Trump Network, LLC (another multi-level marketing scheme), and Business Strategies Group, LLC (a seminar claiming to sell the Trump secrets to success). The lawsuit also claims that the defendants are liable for a “pattern of racketeering activity” violating the RICO Act (Racketeer Influenced and Corrupt Organizations Act) as well as activity violating numerous state consumer protection laws concerning fair business practices and competition. 

On July 24, 2019, the District Court judge partially granted the defendants’ motion to dismiss. The judge dismissed the RICO claims because the Complaint did not “sufficiently plead that Defendants’ conduct was the proximate cause of Plaintiffs’ losses.” However, she ruled that the other claims concerning the state laws will not be dismissed under Class Action Fairness Act (CAFA).

Case Status: The Trumps’ moved to compel forced arbitration and the district court judge denied the motion in April 2020. The court held that the defendants were not party to the arbitration agreement (between ACN and the plaintiffs) and thus, could not compel arbitration. She also found that the motion to compel arbitration was in bad faith as they are acting in a manner that is “substantively prejudicial towards the plaintiffs” and not within the spirit of the Federal Arbitration Act (FAA). The Trumps have filed an interlocutory appeal to the Second Circuit. 

Following the denial of compelled arbitration, the Trumps also filed a motion to stay, or a motion to halt the legal process. The district court denied this motion, citing the four traditional factors that must be balanced when granting a stay and finding that the defendants have not met the requirements to grant a stay. 


 DC Civil Suit over Misuse of 2017 Inauguration Funds

District of Columbia v. 58th Presidential Inauguration Comm., No. 2020-CA-00488-B (D.C. Super. Ct. Sept. 9, 2020)

Prosecuting Office: DC Attorney General (AG)

Case Summary: In the run-up to Trump’s 2017 swearing-in, his inaugural committee raised a record $107 million to spend on inauguration festivities. As a nonprofit, the inaugural committee was bound to use these charitable funds for the public good, namely by organizing events to celebrate the 2017 presidential inauguration. 

But as the DC AG alleges, the inaugural committee used over $1 million of those funds in an improper bid to enrich the Trump family’s private businesses. DC’s attorneys are now suing the inaugural committee, the Trump International Hotel, and the Trump Organization over that alleged misspending. Chief among the allegations, the DC AG claims that the committee paid exorbitant rates to rent space in the Trump International Hotel in downtown DC. The committee, for instance, allegedly paid $175,000 to rent the main ballroom on the same day that another nonprofit paid only $5,000–a rate 35 times higher. On top of that, the committee allegedly ignored much better deals available at other upscale locations, settling instead on overpaying for space at the Trump location.

The DC AG frames these payments as an under-the-table attempt to divert charitable funds to the Trumps’ private holdings. The complaint focuses on possible misconduct by committee executive Rick Gates, who also held key roles in the Trump campaign. (Gates would later cooperate with the Mueller investigation.) To tie in the Trump entities, the complaint asserts that the Trump businesses knew it was overcharging the non-profit committee, and points to internal negotiations between the parties that allegedly show both sides were aware of the extreme rates. The DC AG is asking the court to compel the Trump business to put the misspent funds into a trust where they can be put toward charitable purposes.

Case Status: The defendants–the committee itself along with the two Trump businesses–moved to dismiss the suit, but the district court denied that motion in September 2020. On Jan. 11, 2021, the DC AG added a new allegation that the committee improperly used its nonprofit funds to pay a hotel bill on behalf of Trump’s private business. The suit is currently in discovery, and the AG’s office has already deposed several high-level Trump executives, including Ivanka Trump and Donald Trump Jr.

Update: The DC AG moved for summary judgment on Mar. 24, 2021. All three defendants responded by filing their own motions for summary judgment on Apr. 8, 2021.

Update: On July 28, 2021 in a 3-0 decision, the 2nd Circuit Court of Appeals upheld the district court’s judgement and ruled that the Trump family could not compel arbitration. The court found that since there was no “close relationship” between Trumps and ACN such that the plaintiffs could reasonably infer that their arbitration agreement extended to the Trumps. Thus, the court concluded, the “defendants are not entitled to compel the plaintiffs to arbitrate this dispute.” As of September 2021, the court has not yet ruled on the summary judgment motions.


Karen Bass et al. Incitement Suit for Jan. 6 Capitol Attack

Thompson v. Trump, No. 21-cv-00400 (D.D.C. filed Feb. 16, 2021)

Plaintiff: Rep. Karen R. Bass, Rep. Stephen I. Cohen, Rep. Veronica Escobar, Rep. Pramila Jayapal, Rep. Henry C. Johnson, Jr., Rep. Marcia C. Kaptur, Rep. Barbara J. Lee, Rep. Jerrold Nadler, Rep. Maxine Waters, and Rep. Bonnie M. Watson Coleman, represented by the NAACP

Case Summary: On Feb. 16, 2021, Mississippi Congressman Bennie Thompson sued former President Trump and Rudy Giuliani along with two right-wing militia groups known as the Proud Boys and the Oath Keepers, for violating the Ku Klux Klan Act of 1871, 42 U.S.C. § 1985(1). In the complaint, Thompson alleges that Trump violated the Ku Klux Klan Act by inciting the rioters with the intent to prevent Members of Congress from discharging their official duties of the timely approval of the Electoral College vote. He argues that after Trump’s loss in the November 2020 election, the then-President set out on a campaign to mobilize his supporters, culminating in the Jan. 6, 2021 attack on the Capitol. It portrays Trump’s rhetoric on the morning of Jan. 6 as a call to arms and as intended to prevent the certification of the election.

The Act was passed in 1871 in response to violence and intimidation by the KKK intended to stop Black people from voting. The legislation allows Members of Congress to sue individuals who conspire to violently “molest, interrupt, hinder, or impede” the discharge of a public official’s duties.

Thompson seeks compensatory damages for his emotional distress suffered during the attack in addition to punitive damages. 

Case Status: On Apr. 7, 2021, ten additional members of Congress joined the lawsuit as plaintiffs. The defendants then moved to dismiss on May 26. In Trump’s motion, he argued (i) that he has absolute immunity because he was acting as president; (ii) that even if he did not have absolute immunity, the Westfall Act shields him from any personal liability; (iii) that members of Congress cannot sue under the KKK Act; and (iv) that his speech was protected by the First Amendment. As of September 2021, the court has not ruled on the motions.

Update: On July 21, 2021, Rep. Thompson announced that he would withdraw from the lawsuit to avoid any conflict with the Jan. 6 House Select Committee, which Thompson is chairing. The other plaintiffs–all members of Congress who are not on the Committee–confirmed that they would continue the lawsuit.


Eric Swalwell Incitement Suit for Jan. 6 Riots

Swalwell v. Trump, No 21-cv-00586 (D.D.C. filed Mar. 5, 2021)

Plaintiff: Representative Eric Swalwell (D-CA)

Case Summary: On Mar. 5, 2021, Representative Eric Swalwell sued Donald Trump and several associates in DC federal court over the Jan. 6 riots. Much like Representative Bennie Thompson’s related suit, Swalwell alleges that Trump and his co-defendants–Donald Trump Jr., Representative Mo Brooks (R-AL), and Rudy Giuliani–violated the Ku Klux Klan Act by conspiring to interfere with the Electoral College count on Jan. 6.

Swalwell’s suit also goes one step further: it claims that the defendants should be held civilly liable for negligence because they committed criminal incitement under DC’s local code, which establishes the standard of care. Notably, Swalwell says that Trump violated the same DC code–§22-1321(a)(2)–that DC AG Karl Racine is apparently focusing on in his own criminal investigation into Trump’s conduct.

Beyond the civil rights and incitement counts, Swalwell also claims that the defendants are liable for encouraging (aiding and abetting) the rioters’ violent conduct and for intentionally inflicting emotional distress on members of Congress in connection with the attack on the Capitol.

Case Status: Swalwell filed his complaint on Mar. 5, 2021.

Update: On May 17, 2021, Giuliani filed a motion to dismiss the claims against him. He argued that his speech did not qualify as incitement, that he never formed a conspiracy with the other defendants or the rioters, and that his speech was ultimately protected by the First Amendment.

Update: On May 24, 2021, Donald Trump and his son Donald Jr. filed their own motion to dismiss. Most notably, former President Trump argued that he had absolute immunity against Swalwell’s claims because Trump’s alleged misconduct was within the scope of his official duties as president. Both Trump and Trump Jr. also contended that their speech was protected under the First Amendment and the canonical Brandenburg test. The Trumps also advanced various other arguments ranging from standing to the political question doctrine to even a claim that Swalwell was barred from suing Trump over the same conduct for which Trump was acquitted at his impeachment trial. 

Update: On July 1, 2021, Swalwell filed a motion for default judgment against Brooks, arguing that Brooks had missed the deadline to respond to the lawsuit. Brooks responded with his own motion urging the court to dismiss the lawsuit because he was acting within the “scope of his employment,” which would essentially block the case under the Westfall Act. The district court denied Swalwell’s motion for a default judgment on July 5 but has not yet ruled on Brooks’s motion.

Update: On July 27, 2021, the Justice Department submitted a brief stating that Brooks was not acting within the scope of his employment and thus not shielded by the Westfall Act. The House of Representatives filed a response taking a “non-participation approach” (silence) on the question whether Brooks acted within his scope of employment. The Chairwoman of the Committee on House Administration submitted a brief stating that Rep. Brooks was not acting within his scope of employment.


 Capitol Police Suit for Jan. 6 Riots

Blassingame v. Trump, No. 21-cv-00858 (D.D.C. filed Mar. 30, 2021)

Plaintiff: James Blassingame and Sidney Hemby, two Capitol police officers

Case Summary: On Mar. 30, 2021, two Capitol Police Officers sued Donald Trump for injuries they sustained during the Jan. 6 riots in DC. The officers–James Blassingame and Sidney Hemby–say they were maced with bear spray, attacked with fists and flagpoles, and even crushed against a door as they tried to protect the Capitol from pro-Trump intruders.

Much like the other Jan. 6 suits against Trump, the officers pin their injuries on Trump’s incendiary rhetoric before and during violence. Both allege that Trump directed the rioters to assault them, aided the rioters in committing those assaults, and negligently incited the riot in violation of DC’s public safety codes. Blassingame also accuses Trump of directing intentional infliction of emotional distress, pointing to the racial slurs and taunts that the intruders allegedly hurled at him during the violence.

Case Status: The officers filed their suit in DC federal court on Mar. 30, 2021. On Apr. 28, 2021, the plaintiffs added two new conspiracy claims against Trump, one based on the KKK Act and the other on common law conspiracy. They allege that Trump illegally conspired with the Proud Boys and the Oath Keepers to storm the Capitol, which in turn caused the plaintiffs’ injuries.

Update: Donald Trump filed a motion to dismiss on June 24, 2021.


Second Capitol Police Suit over the Jan. 6 Riots

Smith v. Trump, No. 21-cv-02265 (D.D.C. filed Aug. 26, 2021)

Plaintiff: Seven Capitol Police officers

Case Summary: On Aug. 26, 2021, a second group of Capitol Police officers filed suit over injuries they suffered while defending the Capitol on Jan. 6. The officers allege that Trump and his co-defendants–including the Proud Boys and the Oath Keepers–conspired to incite a riot and attack the Capitol, leaving the officers physically and emotionally injured.

Like the other Jan. 6 lawsuits against Trump, the complaint asserts that Trump violated the KKK Act by conspiring to instigate the riots. The complaint also alleges that unnamed defendants–listed as “John Does” who carried out the attack–physically assaulted the officers at Trump’s provocation, which could make Trump liable for the officers’ injuries.

The plaintiffs also add in a unique claim not found in other Jan. 6 lawsuits against Trump: that the defendants violated the DC Bias-Related Crimes Act, a local hate-crime statute. According to the complaint, the defendants were motivated by political bias against the Democratic Party when they instigated and executed the Capitol attack.

Case Status: The officers filed their suit in DC federal court on Aug 26, 2021.

NAACP’s Legal Defense Fund Voting Rights Case

Mich. Welfare Rights Org. v. Trump, No. 20-cv-03388 (D.D.C. filed Nov. 20, 2020)

Plaintiff: Michigan Welfare Rights Organization and the NAACP, represented by the NAACP Legal Defense & Educational Fund (LDF).

Case Summary: On Nov. 20, 2020, LDF sued then-President Trump and the Trump campaign alleging that their post-election conduct violated Section 11(b) of the Voting Rights Act, 52 U.S.C. § 10307(b). After losing the election, Trump spent weeks pressuring Republican election officials not to certify the election—in particular, the complaint examines the actions of Wayne County Republican election officials who first voted not to certify the election, though they eventually did. Section 11(b) forbids intimidation of voters, those aiding voters, and certain election officials. Voting is broadly defined in the Voting Rights Act, covering “all action necessary to make a vote effective[,] … including … having such ballot counted properly and included in the appropriate totals of votes cast.” 

In December 2020, the complaint was amended to include the NAACP as a plaintiff, the Republican National Committee as a defendant, and alleged a new claim: that defendants violated the Ku Klux Klan Act, which prohibits conspiracies to deprive someone of equal protection under law or the right to vote. 42 U.S.C. § 1985(3). LDF argues that Trump’s efforts to discard votes in cities with large Black populations meets the statutory definition.

LDF seeks statutory damages, a declaratory judgment, and injunctive relief that would prevent defendants from intimidating voters and election officials in the future.

Case Status: On Feb. 25, 2021, the defendants moved to dismiss the case. They had a variety of arguments, including that the case was filed in the wrong court, that the cited statutes do not allow a private party to bring litigation, and that their conduct did not violate the statutes. As of September 2021, the court has not yet ruled on the motions.


 NY Civil Suit over Fraudulent Real Estate Practices

People v. Trump Org., No. 451685/2020 (N.Y. Sup. Ct. Dec. 15, 2020) 

Plaintiff: New York Attorney General (AG)

Case Summary: In March 2019, New York Attorney General Letitia James launched a civil probe investigating allegations that the Trump organization inflated and deflated property values to avoid tax liability and for other financial benefits. She began her investigation after Trump’s former attorney Michael Cohen testified before Congress  that Trump had engaged in fraud. While there is some overlap, James has noted that her investigation differs from and is independent of the Manhattan DA criminal investigation. 

Much of her probe has focused on Seven Springs, a Trump-owned property in New York. In December 2019, James subpoenaed the Trump Organization, seeking records related to a $21 million tax deduction that Trump claimed against the property in 2015. Per her court filings, James is exploring whether Trump improperly inflated the property’s value to boost the size of the tax benefit. 

James is also looking into other transactions relating to Trump properties. She is investigating whether Trump failed to pay taxes on debt forgiven during the financial restructuring of the Trump Hotel & Tower in Chicago and the appraisal of the LA Trump National Golf Club used for his conservation tax break, which was substantially higher than metrics typically used to value golf properties. 

Case Status: In connection with the Seven Springs subpoenas, James’s office deposed Eric Trump in October 2020. She also sought related records held by Trump’s tax lawyers. His counsel initially refused to produce them, claiming they were shielded by attorney-client privilege. The state court judge disagreed, ruling on Jan. 29, 2021 that the tax attorneys must turn over thousands of documents about the tax deductions.

Update: On May 18, 2021, Fabien Levy, a spokesperson for New York’s Attorney General said, “We have informed the Trump Organization that our investigation into the organization is no longer purely civil in nature. We are now actively investigating the Trump Organizations in a criminal capacity, along with the Manhattan DA.”


 Scotland Unexplained Wealth Orders

Plaintiff: Avaaz Foundation against the Scottish Ministers and Others

Case Summary: On February 3, 2021, the Scottish Parliament voted to reject calls from the opposition party, the Scottish Greens, to investigate the Trump Organization’s golf courses through an Unexplained Wealth Order (UWO). UWOs are a mechanism designed to prevent suspected corrupt foreign officials from laundering potentially stolen funds into the UK. They require an individual or organization to reveal the sources of their unexplained wealth and, while they do not automatically trigger criminal proceedings, they can result at least in confiscation of assets. The concerns that led to the push to investigate Trump arose when Trump spent many hundreds of millions of dollars to purchase and refurbish golf courses within Scotland with all-cash transactions. This was particularly suspicious since Trump had financed large scale purchases with debt prior to these transactions. It is disputed whether Eric Trump made a statement indicating that the funds had come from Russia. 

The co-leader of the Scottish Greens stated, “Scotland cannot be a country where anyone with the money can buy whatever land and property they want, no questions asked, and the Scottish Greens will continue to challenge vested interests that protect people like Trump rather than our communities.” Eric Trump criticized the suit, stating that “at a critical time when politicians should be focused on saving lives and reopening businesses in Scotland, they are focused on advancing their personal agendas.”

Case Status: The non-profit global rights pressure group, Avaaz Foundation, sought to challenge the Scottish Parliament vote and, in May, filed a petition in the highest civil court in Scotland to review the decision not to pursue a UWO. On Aug. 11, 2021, Lord Sandison of the Scottish Court of Session ruled the petition seeking “judicial review of the approach of the Scottish ministers in determining whether to apply to the court for UWOs” should “proceed without condition or restriction.” He ruled that their case has “real prospects of success.” Scotland’s High Court will likely hear the case later this year.


 Trump Tower Assault Suit

Galicia v. Trump, No. 24973/2015 (N.Y. Sup. Ct. filed Sept. 9, 2015)

Plaintiff: A group of six protesters

Case Summary: On Sept. 3, 2015, the plaintiffs were demonstrating on the sidewalk outside Trump Tower in Manhattan. According to the plaintiffs–who self-identify as of Mexican origin–they were protesting the “inflammatory” anti-Mexican statements that Trump made during 2015 campaign events. Soon after the plaintiffs arrived, Trump Tower security guards allegedly attacked them and destroyed their protest signs. 

That same month, the plaintiffs sued Trump, the Trump Organization, Trump’s campaign, Trump’s head bodyguard, and the alleged attackers in New York state court. The plaintiffs allege that Trump and his co-defendants are liable for assault and battery, conversion and destruction of property, and tortious interference with political speech. To tie Trump to his guards’ conduct, the plaintiffs allege that Trump was careless in hiring and supervising his security detail and, separately, that Trump should be held vicariously liable–a type of secondary liability often used to hold employers to account for their employee’s harmful actions. To prevail against Trump on this vicarious liability theory, the plaintiffs would need to show that the guards (i) were acting as Trump’s employees or agents at the time and (ii) attacked the plaintiffs to advance Trump’s interests in some way. 

Case Status: Trump and his co-defendants moved to dismiss the claims for property destruction and interference with political speech in Dec. 2015. The court dismissed the political speech interference claim but permitted the rest of the claims to advance.

After the defendants moved for summary judgment in 2017, the court dismissed the negligent hiring and supervision claims against Trump and the Trump Organization. However, the court allowed the remaining claims to go forward, including the vicarious liability claims that Trump should be personally liable for his guards’ conduct. 

Update: On Oct. 18, 2021, Trump sat for a four-hour deposition to answer questions about the alleged assault. According to the plaintiffs’ lawyer, Trump was asked about “a variety of issues including statements he has made at various campaign events and rallies that counsel believes encouraged violence at those events or encouraged security guards to engage in violence or the confiscation of property.” The plaintiffs’ lawyer also said he intends to play a video of Trump’s deposition at trial, which is not yet scheduled.


CRIMINAL CASES



Criminal Investigations into Trump’s Finances

Trump v. Deutsche Bank, No. 19-cv-03826 (S.D.N.Y. Apr. 29, 2019)

Trump v. Vance, No. 19-cv-08694 (S.D.N.Y. Sept. 19, 2019)

Prosecuting Office: In 2019, then-President Trump sued to block subpoenas issued by three House Committees and the Manhattan District Attorney seeking his financial information in 2019. As of Feb. 22, the Manhattan DA now has access to Trump’s tax information.

Case Summary: In 2019, the House Intelligence and Finance Committees issued subpoenas to both Deutsche Bank and Capital One seeking information about then-President Trump’s finances. Before the banks complied with the subpoenas, Trump sued, seeking a declaratory judgment that they were unenforceable and an injunction that would have prevented the banks from disclosing Trump’s financial information. In addition, the House Oversight Committee subpoenaed Mazars, Trump’s accounting firm, demanding additional accounting information. Trump again sued to block the subpoena. 

In parallel, Manhattan District Attorney, Cyrus Vance Jr., subpoenaed Mazars, for access to Trump’s tax records. Trump again sued to prevent the disclosure of this information.

All three cases reached the Supreme Court, where they were decided on the same day, July 9, 2020. The congressional subpoenas were combined into one case, and were remanded so the lower courts could consider separation of powers concerns raised by congressional committees subpoenaing a sitting president. In the Vance case, the Court ruled that a president’s financial information could be subpoenaed by a local district attorney.

Case Status: With the seating of the new Congress in January 2021, the Congressional subpoenas expired. The Vance subpoena again reached the Supreme Court, which on Feb. 22, refused to block it. His spokesperson has confirmed that the office now has access to Trump’s tax returns, including millions of pages of documents. Charges have not been filed.

Update-1: New reporting on Mar. 1 revealed that Vance’s investigation has focused on Trump Organization chief financial officer, Allen Weisselberg, whose potential cooperation with prosecutors could be a significant breakthrough in the investigation. On Mar. 31, the New York Times reported that Vance’s office has subpoenaed Weisselberg’s personal bank records, and on Apr. 8, investigators took possession of financial records from Weisselberg’s daughter-in-law.

Update-2: New reporting on Mar. 8 revealed that Vance’s probe has expanded to include investigation of a $130 million loan the Trump Organization received to build its Chicago tower, and whether the forgiveness of that loan was reported as income, as required by the IRS.

Update-3: On May, 25, 2021, the Washington Post reported that Vance has convened a special grand jury that is “expected to decide whether to indict former president Donald Trump, other executives at his company or the business itself should prosecutors present the panel with criminal charges.” According to the Post, “The move indicates that District Attorney Cyrus R. Vance Jr.’s investigation of the former president and his business has reached an advanced stage …. It suggests, too, that Vance believes he has found evidence of a crime — if not by Trump then by someone potentially close to him or by his company.”

Update-4: On Jun. 4, ABC News and the New York Times report that Trump Organization senior vice president and controller, Jeff McConney is among a number of witnesses to have already appeared before the special grand jury. He is reportedly the first employee of the company called to testify. 

Update-5: On July 1, prosecutors indicted the Trump Organization and the chief financial officer Allen Weisselberg with running a tax fraud scheme for over fifteen years. The indictment charges Weisselberg, the Trump Organization, and the Trump Payroll Co. with compensating Weisselberg and other Trump Organization executives with off-the-books funds that were unreported or misreported to federal, state, and local tax authorities.

The indictment includes a reference to the former President. It states that “as part of the scheme to defraud, Trump Corporation personnel … arranged for tuition expenses for Weisselberg’s family members to be paid by personal checks drawn on the account of and signed by Donald J. ‘Trump.” The indictment also refers to an “unindicted co-conspirator,” who is Jeff McConney, the Trump Organization’s controller, a person familiar with the investigation told CNN.

Update-6: Matthew Calamari Jr., the Trump Organization’s corporate director of security, and Jeffrey McConney, controller of the Trump Organization, appeared before a Manhattan grand jury on September 2. Calamari received “transactional immunity for the topics he testified about” while McConney was reportedly asked to clarify his previous grand jury testimony and respond to inquiries related to Calamari Sr.


 

 

 

Westchester, New York Criminal Investigation of Trump Organization Golf Course

Prosecuting Office: Westchester District Attorney’s Office

Case Summary: Westchester District Attorney’s Office of Mimi E. Rocah has reportedly launched a criminal investigation, led by Elliott B. Jacobson, examining, at least in part, whether the Trump Organization misled local officials about the property value of its golf course to reduce its taxes. The full scope of the investigation is unknown but the office has subpoenaed records from the course. 

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DWAC News: Why Did Digital World Acquisition stock rocket up today? 11:40 AM
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DWAC News: Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) 12/07/2021 04:11:30 AM
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PostSubject
#9212  Sticky Note https://www.foxnews.com/politics/devin-nunes-to-retire 12Retyr 12/06/21 08:15:40 PM
#9028  Sticky Note To clarify once again - the rules of IH Admin [Shelly] 12/06/21 09:42:46 AM
#7962  Sticky Note Anything under a couple hundred bucks here will 7777 oath keeper 11/30/21 09:57:27 AM
#2729  Sticky Note da way i see $dwac mick 10/25/21 09:34:46 AM
#400  Sticky Note DWACU = 1 common + 1/2 a warrant. FFFacts 10/21/21 01:21:58 PM
#9547   “Tilson shuttered his hedge fund for underperformance” Trump shuttered Hattori Hanzo 12/08/21 09:51:42 PM
#9546   Amen. It's about time we have a a surfer 12/08/21 09:51:02 PM
#9545   They are not allowed to have any discussions Hattori Hanzo 12/08/21 09:46:07 PM
#9544   who cares... popcorn headline and article . Every upline999 12/08/21 09:45:44 PM
#9543   100% BS.....the article is just anti Trump and beenhadbefore 12/08/21 09:42:32 PM
#9542   A little information for all that think the OMOLIVES 12/08/21 09:39:11 PM
#9541   Anyone have an opinion on this Whitney Tilson Dharna 12/08/21 09:28:58 PM
#9537   yeah, his wrong calls started in 2016 zapalny74 12/08/21 09:08:33 PM
#9536   Tilson shuttered his hedge fund for underperformance, as chillswills37 12/08/21 09:03:55 PM
#9530   DWAC is allowed to have conversation with prospective Worthwalk 12/08/21 08:47:46 PM
#9529   Tilson today.... zapalny74 12/08/21 08:43:31 PM
#9528   3.5 million votes is nothing considering that the Worthwalk 12/08/21 08:42:48 PM
#9526   Funny? LOL, just brace yourself. WHIP THE HORSE 12/08/21 08:34:23 PM
#9525   LOL 7777 oath keeper 12/08/21 08:27:24 PM
#9523   I hope hes short. Id love to see alchemytrader 12/08/21 08:19:55 PM
#9521   Red hot magma explosion through the roof with Worthwalk 12/08/21 08:16:35 PM
#9520   I will repeat. Proving that the Spac did Worthwalk 12/08/21 08:14:50 PM
#9518   Blank Check cashclan 12/08/21 08:06:48 PM
#9517   Tilson is a "failed hedge manager," wrong on chillswills37 12/08/21 08:00:39 PM
#9516   OH NO ! MORE BAD NEWS lol upline999 12/08/21 07:54:58 PM
#9515   I just bought 10,000 shares for my granddaughter. NYCPuglet 12/08/21 07:40:27 PM
#9514   Up tomorrow pm,then a churn a little lower justbecause516 12/08/21 07:39:26 PM
#9513   A day late and a dollar short... WebSlinger 12/08/21 07:26:46 PM
#9512   “To be clear, my view that this is WHIP THE HORSE 12/08/21 07:26:15 PM
#9511   Probably a Hedgefund Manager trying to get out TheGreatSwami 12/08/21 07:25:23 PM
#9510   I’m not able to respond to the profane BJ_Cooper 12/08/21 07:23:23 PM
#9509   I hope so. BJ_Cooper 12/08/21 07:20:35 PM
#9508   Trump always wins! No worries. Don Quixote 12/08/21 07:18:18 PM
#9507   mik1234 12/08/21 07:14:07 PM
#9506   Bad News!! https://m.benzinga.com/article/24514024?utm_referrer=https%3A%2F%2Fd BJ_Cooper 12/08/21 07:11:10 PM
#9505   Ummm - this stock has no shares left Worthwalk 12/08/21 07:00:37 PM
#9504   #DDAmanda Chart on: $DWAC TraderStig 12/08/21 06:41:50 PM
#9503   Looks good for now, ready for the drop Hattori Hanzo 12/08/21 06:31:17 PM
#9502   TURN DOWN FOR WHAT!!!!!!!!! [SMART MONEY] 12/08/21 06:24:22 PM
#9501   $DWAC This stock analyst continues his rather enviable chillswills37 12/08/21 06:15:28 PM
#9500   Awesome brother! a surfer 12/08/21 05:55:26 PM
#9499   You are just lucky that you payed strict OMOLIVES 12/08/21 05:35:53 PM
#9498   Roger that!! It's all coming together.https://www.prnewswire.com/news-releases 7777 oath keeper 12/08/21 05:35:14 PM
#9497   Agreed....Super fun. 27 million volume. Crazy car fun....See beenhadbefore 12/08/21 05:32:34 PM
#9496   Lol, we might break $70 aftermarket. zapalny74 12/08/21 05:32:33 PM
#9495   This equity is like one of Trump's rallies. crudeoil24 12/08/21 05:31:22 PM
#9493   68's up > makin trumpian bank!!!!! crudeoil24 12/08/21 05:15:07 PM
#9492   MARGIN CALL!! Rookiemove 12/08/21 05:08:52 PM
#9491   Got in at .5 emit 12/08/21 05:06:38 PM
#9489   MMs shorted all day. You see all the fink 12/08/21 04:44:55 PM
#9488   Wowza Liam859 12/08/21 04:40:02 PM
#9487   Well... as I remember there was something about 1.7 cashclan 12/08/21 04:37:36 PM
#9486   Would be ni$e! KenKong 12/08/21 04:36:50 PM
#9485   Thats Funny , and ive worked in his TaperT2 12/08/21 04:35:06 PM
#9484   Lol 7777 oath keeper 12/08/21 04:34:08 PM
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