Truth social app. Credit: Michelangelo Oprandi/Adobe Stock Ex-CEO Faces SEC Complaint in Alleged Scheme to Take Over Trump Media
The SEC seeks disgorgement of any alleged "ill-gotten gains" from Miami businessman Patrick Orlando and civil penalties on allegations he gave false statements concealing a plot to acquire Trump Media.
July 18, 2024 at 05:13 PM
2 minute read
Securities Litigation
What You Need to Know
- Patrick Orlando is the former CEO of Digital World Acquisition Corp.
- The SEC accuses Orlando of making false statements concealing his alleged plot to acquire Trump Media.
- DWAC terminated Orlando as CEO and later closed its merger with Trump Media in March 2024.
The U.S. Securities and Exchange Commission has sued Miami businessman Patrick Orlando alleging the former CEO of Digital World Acquisition Corp. made false statements concealing his alleged plan for acquiring Trump Media & Technology Group Corp.
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