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LBRY Claims • financial-expert-says-trump-may-have

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13 Apr 2024 19:19:02 UTC
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Financial Expert Says Trump May Have Engaged In Securities Fraud
Donald Trump promised the world in a post on Truth Social last week that his publicly-traded company was doing great, and that the stock price was going to soar. Statements like this, because it is a publicly-traded company, are viewed as securities fraud by regulators because they are "statements of fact" that are meant to pump up the price of a stock that the speaker has a vested interest in. If you mislead people into thinking a stock will do better, then that is fraud, according to the law. Ring of Fire's Farron Cousins explains what happened.

Link - https://www.rawstory.com/trumps-truth-social-media-2667721367/

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Donald Trump's Trump Media and Technology Group, which is the parent company of Truth social. Uh, the stock has been in a free fall all week long, and it has just been one of the most fun things to ever watch. But there's a bigger problem happening than Donald Trump realizes. And it's a problem that is revealed in the fact that Donald Trump has never had any of his other businesses go public. But now that he has this one that is a publicly traded company that's lost over half its value already in just two weeks, um, he can't say certain things because that would now be illegal. And according to a financial expert, Trump's already crossed that line. Here's what happened last week, on Thursday of last week, actually, Donald Trump got on truth social and said, quote, all of the competitors to truth social, especially those in the Radical Left Democrats party who are failing at every level, like to use their vaunted disinformation machine to try and convince people.

And it is not easy to do that. Truth is not such a big deal and doesn't get the word out as well as various others, which they know to be false. Now, Trump put that out in response and, and there was more to it, by the way. But anyway, he puts that out in response to the reports that Truth social lost $58 million last year, which is true. So he is out there saying like, this isn't true. The truth is, is not the truth. But when you are the majority shareholder or any shareholder in a publicly traded company, as the financial expert explains, you can't lie about the status of your company because that lie will affect the stock price. Here's what he said. This is coming from Michael Klausner, professor of law at Stanford Law School. He says, A false statement of material information is securities fraud.

Uh, he then said that, uh, you know, this could be seen as illegal by the securities in Exchange Commission if it's not true, and Trump could be investigated for a so-called Pump and Dump scheme, where someone deliberately hypes a stock to manipulate its price and time their own cash out. Well, obviously we know that Donald Trump wants the stock price to go high, but if he tells a lie to the public in order to make that stock price go up, that is 100% illegal. People go to jail for that. Think of it this way, Enron, and I think Enron is probably the best possible comparison to Trump media and technology stock behind the scenes. When Enron was going through all this turmoil, what's happening where the shareholders, they're selling all their stock off, selling it off, selling it off, but they're telling the public, Hey, everything is great. This company's doing wonderful.

Wow, look at how awesome we are. Y'all should buy our stock so they pump up the stock price while they're selling theirs and cashing out. And then when things bottomed out because the company bottomed out, oopsie the investors, but not the majority shareholders or the former majority shareholders are the ones left holding the bag. And that could be what we're looking at with Donald Trump and his DJT stock.
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