Last week reports surfaced that federal prosecutors were looking into the finances of Truth Social, the former president Donald Trump’s social media website set up after he was banned from Twitter and Facebook. According to an article by The Guardian, questions are being raised about the source of an $8 million loan made to Trump media by Paxum bank and ES Family Trust. Paxum is owned by Anton Postolnikov, a close relation to Aleksandr Smirnov, a long-time ally of Putin, and has a reputation for providing funding to the pornography industry. This bank appears to do business with some dodgy characters. It also seems that other members of trump world, such as the president’s son Donald Trump Jr and long-time trump allies Kash Patel and Devin Nunes, may know where the money from the loan came from.
A follow-up article in The Guardian states that high-ranking executives within Trump Media are increasingly worried that they could face legal action if loans contained dirty money. One executive even suggested returning the money to avoid any potential legal proceedings. However, this was not done as the money was desperately needed to keep the company solvent. Also, according to a report from Business Insider, Truth Social is laying off employees, most likely due to cash flow issues. It is still unclear if Trump Media has committed any crimes, but the saying “Where there is smoke, there is fire” comes to mind.
Crispin Corruption Report 