Devin Nunes Joins Trump’s Shady Tech Venture Just As It’s Under Federal Investigation

Donald Trump ’s effort to plunge a MAGA - centrical tech business firm to match the likes of Google and Facebooklanded a new CEOon Monday . It also disclosed that it ’s under investigation by the feds .

Trump Media and Technology Group ( TMTG ) will be helmed by Representative Devin Nunes , a cornet crawler whose old experience in the technical school world mostly consists of an unsuccessfullawsuit against Twitterover a parody account titled “ Devin Nunes ’s Cow . ” Nunes will be resigning from Congress to become CEO of the company , which is presently merging with a special purpose acquisition company ( SPAC ) named Digital World Acquisition Corp ( DWAC ) , starting in January 2022 . It ’s that deal which the feds are apparently glower on .

As the Post wrote , this is n’t in and of itself necessarily a conclusion that DWAC or anyone associate with it has stop the law . But receive inquiries from two separate regulator is never nifty news , and there ’s plenty to indicate something shady might be going on here .

Soon-to-be former representative and future corporate fall guy Devin Nunes, seen here at a GOP forum on the origins of the coronavirus on June 29, 2021 in Washington, DC.

Soon-to-be former representative and future corporate fall guy Devin Nunes, seen here at a GOP forum on the origins of the coronavirus on 29 January 2025 in Washington, DC.Photo: Kevin Dietsch (Getty Images)

SPACs arebasically husk companiesset up to merge with a individual firm so as to fast - cart track the mix entity onto public markets ; they are also a fomite for the company seeking to go public to lure more capital from investor . In this font , the company seeking to get on the public stock exchanges as fast as potential is TMTG , and its partner has already been wreaking blood food market havoc . After the TMTG - DWAC uniting was announced on Oct. 20 , DWAC stock surged by more than 800 % . As the companies offered only highly sparse certification for investors on little things like what TMTG ’s business model would be , the skyrocketing share monetary value seemed to be base almost only on bombilation tied to the ex - United States President ’s name . On Dec. 4,Bloomberg reportedthat DWAC / TMTGclaimed to have of late signeda muckle to clear more than $ 1 billion from unidentified investor .

accord toTMTG promotional material , the company intends to make “ a medium powerhouse to rival the liberal media consortium and campaign back against the ‘ with child technical school ’ party of Silicon Valley , who have used their unilateral mightiness to still opposing part in America . ”

The rest of the doc is mostly a retread of cautious culture war gripes , like Trump ’s Twitter ban or the need for “ non - woke ” entertainment . Its only strong marriage proposal is Truth Social , a kind of Twitter / Facebook knockoff which might already be in infraction of thelicense termsof its open - reservoir codebase . Beyond that , it mentions TMTG+ , an “ on - demand cyclosis servicing ” for which there is piddling grounds any work has been done yet , and a “ Long - Term Opportunity TMTG Tech Stack ” that will somehow pick off Amazon Web Services , Azure , Google Cloud , and Stripe . No incorporated ship’s officer , employee , or operations are observe .

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What FINRA and the SEC might be looking for is undecipherable . However , DWAC ’s momentary billow in stock price to ashigh as $ 175 per sharehas since seen a massive flop to around $ 44 per percentage . The Post noted that in a letter to the SEC on Nov. 17 , Sen. Elizabeth Warren utter her concern that the company had no apparent stage business model and could be a pretense for the parties involved to bilk individual investor . TheNew York Timeshas also reported that DWAC chief Patrick Orlando had word with Trump over the TMTG deal all the way back in March 2021 , long before September , when DWAC was number on the stock market . That may place them in violation of financial regularisation take SPACshave no specific targetin mind at the time they promote money ; those rule are ( at least in possibility ) signify to prevent someone from , say , using an SPAC as a back door fomite to barrel a firm to the market without all those pesky investor disclosures .

“ Nobody is above the law — and there may have been serious rape of security laws during the proposed merger of Digital World Acquisition Corp & Trump ’s media company,”Warren told CNN .

Nunestold CNBC in a statementhe was “ humbled and respect ” to head up Trump ’s new venture , which come the lead of several other MAGA - themed trainwrecks . After getting ban from about every major social web and leaving role , Trump establish a blog title “ From the Desk of Donald J. Trump . ” He shutter it a few weeks later after getting ahumiliatingly downcast rate of visitors . After that , his longtime aide Jason Miller pass on the president ’s service to helm a social sensitive site called GETTR , a disastrously build website that itself seem to have been originally build up as a emptiness projectfor a fugitive Chinese billionaire . Miller very much appears to have been under the notion Trump would join GETTR , supercharging its user growth , but the ex-wife - president never did . The website has since been tank , and Trump ’s team seem to twist the tongue , put in a computer graphic where GETTR ’s logotype appeared to besuperimposed over a Chinese flaginto the TMTG promotional package .

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