The witch hunt of former President Donald Trump continues.
The Washington Examiner reports that the Trump Media & Technology Group and some of its employees have been subpoenaed by both a federal grand jury in New York and securities regulators.
This comes as Digital World Acquisition Corp is looking to buy Trump Media. The move would free up some $1.3 billion in cash for Trump Media.
It is not exactly clear what the subpoenas were for.
But, there are some things that we do know, particularly about Digital World, which is a “blank-check” type company.
ABC News reports:
Digital World has been under investigation by the SEC for possible violations for months . . . the SEC has been looking into whether Digital World broke rules by having substantial talks about buying Trump’s company starting early last year before Digital World sold stock to the public for the first time in September. Just weeks later it announced it would be buying Trump’s company.
The acquisition of Trump Media by Digital World is now definitely going to be postponed as a result of these investigations. Depending on what investigators find, it might even put a stop to the acquisition altogether.
Trump has yet to respond to the news of these investigations. The former president was also not subpoenaed personally.