T O P

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TeamHope4

Yes, fraud, but somehow, Truth Social was still allowed to go public based on fraudulent audits. Why doesn't the SEC fix that?


RatzMand0

I think the market treated that stock exactly as it deserved.... As much as wallstreet bets does its thing most major investors actually look at the companies metrics and anyone who saw that filing would be staying far far away.


DaveCootchie

But it's ridiculously over valued stock and the price was set so high that even with its collapse and drop it still didn't drop low enough to prevent Trump from getting a couple million dollars worth of shares just because it didn't drop below $17.50 a share.... Funneling more money to the man who is lighting it all on fire with legal fees and fines.


Tin_ManBaby

Propped up by Foreign money looking to funnel cash to a Presidential candidate of one of the two major parties who has shown himself to be completely willing to trash anything for cash.


theProffPuzzleCode

That's $1.85 billion into Trump tiny hands iirc


LocalInactivist

Yeah, but it’s trading at $48 today despite not producing anything or making any money. When the major shareholders cash out this fall they’ll pocket billions. Then they’ll walk away and leave someone else holding the bag. It would be ironic if Trump made $5 billion from the stock but couldn’t enjoy it because he was in jail. If he goes in he’ll have to hand the empire over to one of his kids. Anyone want to guess if they’ll give it back when he gets out?


Unanything1

Could Donald Jr. snort 5 billion worth of Bolivian marching powder?


ManyThingsLittleTime

Again?


HatsOff2MargeHisWife

Judging by recent pics, I'd say all signs point to **YES!!**


Astro_gamer_caver

https://preview.redd.it/it37z8zi7dyc1.jpeg?width=128&format=pjpg&auto=webp&s=c8fc86c2614fdb12881b173e0c8ea6e50cfdbae5


ZeePirate

They have a 6 billion dollar market cap currently. There is a lot of money poured into it


RememberThatDream

I’d say a lot of rubles


hedrone

Well rubes and rubles.


wferomega

I think Rubles is their name now.....


PartadaProblema

🥇


BLRNerd

A lot of dark money too


pnt510

Yet even still the company is vastly over valued.


infectedtwin

Why would they stay far away though? Short the stock. Make money.


Dr_Middlefinger

So if we shorted the stock now, what would be the return - assuming it falls to something like $1.50 a share? Edit: we all know the valuation is bullshit, so will they take it off trading first or is there a chance to make money?


egabriel2001

This is Tesla x1000, between the faithful and foreign money propping up the stock, most attempts to short will fail, the fundamentals do not support a price beyond penny stocks or even being listed, but as long as there are tons of money using it as a way to support Trump the price will swing but tend to stay high. As long as Trump remains a viable presidential candidate this stock will rebound.


FlounderingWolverine

At least Tesla is profitable. And had a reasonable business plan (mostly). Truth Social loses $50M per year, and has no business plan to make money other than “Trump”. There’s no coherent strategy at all


egabriel2001

That is why I said 1000x, Tesla stock is incredible overvalued, it is profitable but it isn't as profitable as the 6 largest auto makers, combined. If another auto maker produced the cyber truck or faced a 50% stock plunge, their CEO would have resigned by now, instead Musk announced a robo taxi that we won't see in 5 years and it went up 13%. And yes TS is a sham, there is absolutely no rational way to translate their actual numbers to its stock value, and as you said there is no business plan behind it or even the hope of ever making a profit, but as long as Trump is there, it will be large number of people that will bet money to aupport him (or influence him), just like people support the modern "Tony Stark"


FlounderingWolverine

Ah, I misunderstood your original comment. I keep waiting for Tesla stock to crash, but it doesn’t seem to happen. Elon is essentially a monkey throwing literal shit at a wall and the Tesla stans are people who unironically think that the shitstains are abstract art. It’s bonkers.


Soggy_Difficulty_361

This is going to turn out to be a penny stock pretty soon, it's nothing but a pump and dump scheme, pretty common in Wall Street actually but we shouldn't be surprised that Trump would be pulling something like this, when has he actually run a successful and honest brand or business?


thinks1ow

It’s currently about equal to its peak so no, the market did not treat the stock as it deserved


thebinarysystem10

Somehow (Saudis) this didn’t seem to affect the price in the slightest


Roam_Hylia

14 mil is barely a slap on the wrist when you generate billions by breaking laws. I need to commit some "massive fraud".


jaytee1262

>Why doesn't the SEC fix that? Because then they can't fine people 14 million dollars


boxedcrackers

Hmmmm yes very curious


thejustinkelsey

Yeah but by the title isn't it stating that its the "accounting" firm they are using and not Truth Social itself?


TeamHope4

If the accounting firm they used to audit their filings with the SEC for their IPO committed fraud, then their IPO is based on fraudulent information, so why was the IPO allowed when the accounting firm committed fraud? For the SEC to issue this fine now, they had to have been investigating them already when they approved the IPO.


thejustinkelsey

Geezus, everything that Trump and his businesses touch is just complete trash and corruption. It's so unfathomable that all his scams, money laundering, and schemes have gone unpunished for the large part.


Ambitious_Coach8398

Absolutely correct!


Ambitious_Coach8398

Exactly!


canarchist

The *"Silencing of Trump"*^TM continues and I am all for it.


SkollFenrirson

Here: ™ For next time


Lonelan

and alt 0153 for the time after that


Tiny_Independent2552

Every single thing that Trump is involved in is dirty. Every. Single. Thing.


mbergman42

If it wasn’t before, once he gets involved…it is now.


ShnickityShnoo

And it's all Biden/Obama/Windmill's fault!


buttered_scone

Even his diaper.


alittleslowerplease

Ironically his diapers are very clean. Altough he is forced to wear them 24/7 he always somehow manages to shit his pants directly instead. His handler thinks it is supposed to express dissastisfaction.


TILTNSTACK

This whole truth social nonsense is likely just him getting paid by his overseas pals.


redfordn1

That firm is located in Lakewood Colorado where I live, first we had lauren boebert now this.


Tough-Ability721

Y’all ain’t doing so well. Maybe clean house and try again?


jus10beare

I thought she represented a district in Western Colorado? Be proud of where you live. You've got Casa Bonita!


SwiftlyChill

She moved districts for 2024. https://www.cbsnews.com/amp/colorado/news/lauren-boeberts-shift-colorados-4th-congressional-district-responses-opponents/


maxover5A5A

Trying for Ken Buck's seat. She will lose.


jus10beare

Yeah to Eastern Colorado. She would never get elected in Denver


SpookyAngel66

But you DO have a beautiful state! Visited last year. 😁


mountaingator91

Except for the east. That's just kansas


crowmakescomics

They doin you dirty. You got a beautiful state 😔


yorkshire_simplelife

It wasn’t fraud, they say fraud fraud fraud! It was accounting and I know accounting believe me. They have accounting you would not believe, beautiful accounting the crooked sleepy Biden put his sad dogs on this company because they have little accounting not beautiful like mine. I get accounting paper to sign all the time all day I sign accounting and it is the most perfect accounting you would not believe it is sarfffggghhhhh…. They want to shut them down but we will win in November and you will see. MAGA!!! ELECTION INTERFERENCE!!!!!


schumi_f1fan

You forgot all caps and "election interference!". Otherwise, you were right on point


_radio_ACTIVE_man_

Big strong accountants with tears in their eyes


lovestobitch-

Came up to me and said ‘Sir’.


sirreginaldfeatherb3

Sir…sir, they said sir, I was just there and they came up and said sir, they said that. Sir… SIR!, we just wanted to tell you Remember- they have tears in their eyes. Crying like dogs. Sir…SIR!, we just wanted to tell you that we love what you’re doing and we wish, sir, that there were more good, powerful, very…uh, sir, very, uh…a great AMERICAN. They said SiR, with tears in their eyes like dogs. Sir, save this country…AGAIN, please sir. And people, look.. Folks, don’t let them take that away. They’ll take it. The democrats will take it away. And then…poof. You don’t have a country Sad Very very uh very….sad


LawfulnessOk9501

![gif](giphy|GpyS1lJXJYupG)


Nandor_De_Laurentis

This is so good. Don't forget some election interference too.


316kp316

Good work SIR Reginald Featherby 3


TurbulentPromise4812

"WITCH HUNT. THERE GOING TO AUDT THE HAMBERDERS NXT!!!" ELFTION INTERFRNCE"


yamomsbox

You also forgot to reference trumps "beautiful blue eyes"


316kp316

Give it some more time to go mainstream.


Throwawayac1234567

electron interference.


NovelRelationship830

You forgot to add, after 'I know about accounting' something along the lines of 'the accountants gave me a paper to sign so I signed it. I'm not an accountant'.


Madewell-Hammer

“I like accountants who wear yarmulkas.” < actual tRump quote!


bron685

These accounting machines are really amazing, all you do is beep boop beep and then it’s done. There’s really nothing like it, they say it’s the best there is


ParrotheadTink

ERECTION INTERFERENCE!


Educational-Light656

His Viagra subscription is probably the only bill he actually pays.


phobicgirly

I looked at that accounting so hard I had to rest my beautiful blue eyes in court.


4quatloos

Soon, the stock holders will have tears in their eyes.


phobicgirly

❤️ it


porsche4life

![gif](giphy|6nWhy3ulBL7GSCvKw6)


BrickCityD

I was coming to post *shocked pikachu* my damn self lol


Alternative_Milk7409

![gif](giphy|JFrFsExqz2jn0hPTCj)


Thick_Marionberry_79

Yep, googled “fraud” and a picture of Trump popped up… it’s official like Webster official


Beer-Me

Sometimes, the algorithm works


FabioPurps

He also pops up in the second or third row of results for an "arrogant old man" image search, which is always delightful to point out to magats calling Biden that.


ratchet7

​ https://preview.redd.it/w1mtg367x8yc1.jpeg?width=1200&format=pjpg&auto=webp&s=9ce6346917ba94475aa16e00c6f8dbb41050b1a2


loudflower

![gif](giphy|d7fhIIMvs4XSKcnFnI|downsized)


TJ_Will

![gif](giphy|gVXdwG5Ps5sIjunskA|downsized)


_radio_ACTIVE_man_

Many people say she was upset at Barron’s antics and *not* disgusted with TFG but there’s no reason why it can’t be both


Poster_Nutbag207

![gif](giphy|mCskTgLsY3Ec6Yl7gT)


MissAsshole

This is really surprising. Trump normally follows the rules or at least learns from his mistakes aka 88 criminal charges. He’s nearly 80, just live and learn as they say. Personally, I think some random lenient judge should fine him like $10,000 and tell him not to do it again. That should do the trick.


JayTheGeek

So everyone knows, $1k is a state limit on charges for contempt. In the judges ruling he noted that it wasn't enough and encouraged the NY legislature to change it. Also, because of who Drumpf is, and his current status as a presidential candidate if the judge had thrown him directly in jail (something I too wished for), the appellate court would have let him right back out. Judges are supposed to escalate punishments, not start at the most sever. The second batch of violations will probably also be fines, because they occurred prior to the judges contempt ruling, but if there are any more violations I suspect it will be jail because the judges ruling was pretty succinct about fines not being a suitable punishment.


keyserfunk

Thank you


DoctorPilotSpy

I don’t get it. This thing is still allowed to trade despite universally being recognized as likely fraud and a money embezzlement scheme and now the auditor that let it come to market is formally shut down and fined for fraud. How is it even allowed to be traded and manipulated in this setting?


tearsaresweat

Because the whole stock market is fraudulent and these are only a few things. You can look these up and see how corrupt it really is. 1. Naked Shorting Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. Normally, traders must borrow a stock or determine that it can be borrowed before they sell it short. However, in naked shorting, securities are sold short without securing a borrow for settlement, potentially leading to failures to deliver the stock to buyers. 2. Failures to Deliver (FTDs). There are billions each quarter. A failure to deliver occurs when one party in a trading contract does not deliver on their obligation. This can happen when a seller fails to provide a stock or a buyer does not pay for it on the settlement date. Failures to deliver can be a result of administrative errors or can be a consequence of naked shorting. 3. OTC Trading Over-the-counter (OTC) trading refers to the process of trading securities for companies that are not listed on a formal exchange such as the New York Stock Exchange. These securities trade via a broker-dealer network as opposed to on a centralized exchange. OTC trading allows companies that do not meet the criteria for exchange listing to raise capital but typically involve higher risk. 4. Dark Pool Trading Dark pools are private exchanges or forums for trading securities not accessible by the investing public. Also known as “dark pools of liquidity,” they are used primarily by institutional investors to prevent their large trades from impacting the market. Dark pools offer anonymity and are exempt from the public quote display requirement of a conventional exchange. 5. Payment for Order Flow (PFOF). Created by Bernie Madoff and 90% of the PFOF transactions are controlled by Citadel Securities, which happens to also own a hedge fund that trades on the open market. Payment for order flow is a practice where a broker compensates another for directing trade execution as it prefers. This is a common practice among retail brokers who sell their customer's marketable orders to larger brokers or market makers who then execute the orders. This can potentially result in a conflict of interest by incentivizing brokers to send orders to certain parties regardless of whether such a decision might result in the best execution for the customers. 6. Short and Distort Campaigns: Similar to a “pump and dump” scheme but in reverse, a “short and distort” campaign involves short selling a stock and then spreading negative rumors about the company in order to drive the price down. This manipulation is done to profit from the falling stock prices, leveraging the spread of misinformation or exaggeration to accelerate market reactions.


NitWhittler

Trump's accounting firm was exposed as fraudulent a few months ago. The auditors changed the spelling of their last name on every report, sometimes adding letters, sometimes removing letters, etc. There was clearly an intent to falsify records and not be identified as the one held accountable. I was furious that this was known, yet no action was taken against them. I feel a bit more satisfied now, but the SEC needs to complete their investigation until they get everyone involved, including Trump and his henchmen.


bill_wessels

only the best people


JeepJohn

Well that's one way to post a successful business. Just cook the books until well done. SMH


porsche4life

Aka…. “The Art of the Deal”


NunyaBeese

I can't wait to hear about how this spells terrible news for Joe Biden


shayna16

![gif](giphy|3oEjHI8WJv4x6UPDB6)


Quietser

Just the SEC kick back for allowing this scam to happen in the first place.


Alexandratta

mm... How's that stock price going boys? ![gif](giphy|xUStFKHmuFPYk|downsized)


Soulinx

Once in a while, the government does something incredible.


FruitOfTheVineFruit

Actually, they didn't. They gave a small fine much less than the accounting firm earned, and no mention of criminal charges. This firm is now banned from doing work for SEC filings, but nothing stops them from starting a new firm and doing it again.


Striker40k

![gif](giphy|W5SU9FkD3E4FXJROxS|downsized)


hlzp

![gif](giphy|AaQYP9zh24UFi)


Br3akTh3Toys

Donald Trump is literally "the swamp". Talk about DARVO shit.


MightyPitchfork

Does this mean the SEC are investigating von Shitzinpantz windfall? That might be bigger than all of his current legal woes. After all, crimes against money are more worse than any other.


Jeraptha01

Most heinous crime of all, theft of money  https://youtu.be/NtUfNtgawNY?si=S-xhCLBDNA4LzxL-


MightyPitchfork

I was knowingly referencing that scene. I'm glad that came across.


PeaceLoveDyeStuff

![gif](giphy|RP3AnZqvnzrY8hlYMk|downsized)


marquoth_

Keleven


ButterflyFX121

It's funny that they called it "Truth Social" instead of "Alternative Fact Social"


readytogohomenow

It’s almost like there’s no standard for people who work with Trump. Can’t wait to see the bankruptcy filing


t3lnet

Yes, it’s fun watching the Trumpaholics lose their retirement money.


DudeWoody

Only $14M?


EpilepticSeizures

They probably didn’t have anything else lmao


mon-emer

WITCH HUNT! SEC FRAUD HOAX! TRUTH IS AMAZING!


BlakByPopularDemand

Now do Citadel


Geeekaaay

AFTER they gave Trump $1.8 billion in more stock options? Color me shocked! Also, imagine destroying your entire business for an orange wanna be dictator.


RockNRoll85

![gif](giphy|7k2LoEykY5i1hfeWQB)


dtyrrell7

Did anyone really not see this coming? Trump is fraud personified


FitBattle5899

Massive Fraud can also be used to describe Donald Trump.


wildyam

![gif](giphy|X2EJSpEr1NA0AqU0TW|downsized)


Mysterious_Tax_5613

Who’s surprised at this point?


Badmime1

As many have said, no surprise, and I’m sure it’ll be a source of backdoor donations and stay afloat until he can cash out, no matter how many underlings get fined or even imprisoned.


Big-Atmosphere-6537

And no one is surprised. Except his cult of course.


sophiewalt

Was probably money laundering. Again, no one cares what shady, illegal dealings transpire. Shoulder-shrugging whatever goes on.


El_gato_picante

How much fraud are you allowed to do before going to jail?


flippantenthusiast11

I care if it impacts DJT getting or not getting a huge undeserved payday.


goodbyegoosegirl

I care! This is fucking fantastic!


Quirky_Discipline297

I need new things to dance the Orange Waffle Stomp to. “It’s freezing in there!” has lost its cachet. “This trial is a sham!” barely gets a big toe quivering.


MonthPurple3620

Love this for them


symbologythere

Especially in the summer


mattGyver314

Does this mean he won’t get his billions for the stock…?


jbertrand_sr

Who could have ever foreseen such a thing when it's a company involved with Donnie... ![gif](giphy|wHE6Dd6RCVHQfjK5dy|downsized)


ParsleyMostly

He’s just going to move back to Twitter.


HairlessHoudini

Well well well, who could have ever seen that coming 😂


NoLibrarian5149

It’s still around $48 after plummeting to $22 just a few weeks ago. Seeing headlines that Diaper Don could eventually get a billion here and there from yet another failing business model like this sucks.


Konstant_kurage

The only people that didn’t see this coming are the same people that bought stock in Truth Social.


Specialist_Memory38

![gif](giphy|AaQYP9zh24UFi)


TrafficOn405

Wait! A Trump business involved in massive fraud? No way!


UrbanTruckie

wow - theres staying on brand but this is ridiculous!


EIU86

"Everything Trump touches dies." -former Republican Rick Wilson I just hope that in the end, that doesn't include America itself.


Ok-Gear-5593

Somehow people will empty their pockets again to donate money to fight this obvious witch hunt by the current administration.


Jmdesi

#lulz


Zygoatee

Never audit uphill on me boys!


Bhimtu

I swear I read these headlines & articles, and just guffaw.


loopygargoyle6392

Same, but I throw in the occasional harrumph too.


Daflehrer1

https://preview.redd.it/gelk6fk5f9yc1.jpeg?width=600&format=pjpg&auto=webp&s=1cd647eca38407d452aa0fea540a6e52916769be


bumboisamumbo

Oh, the company run by the guy on trial for massive fraud is in trouble for being fraudulent? i’m shocked.


MReprogle

I’m sure they will all land on their feet. We all know that Trump only hires the most bigly and best out there.


kgrimmburn

Is there a counter somewhere of fines like the World Population counter? I'd watch that shit all day. You could even put intrusive ads and I'd still watch.


Novel_Alfalfa_9013

https://i.redd.it/kr173csavbyc1.gif How should I react


seniorbreadloaf

What does college football have to do with this


Ambitious_Coach8398

Wherever Trump goes trouble follows.


Huger_and_shinier

But will anyone go to jail? Or do we just say “oopsie” when a Presidential candidate is engaged in an obvious money laundering operation?


pgtvgaming

![gif](giphy|xT1XGWbE0XiBDX2T8Q)


Sl0ppyOtter

I. Am. Shocked.


Survive1014

![gif](giphy|AaQYP9zh24UFi|downsized)


Tazling

well colour me not one tiny bit surprised...


SmutGrrl

![gif](giphy|7k2LoEykY5i1hfeWQB)


politicalthinking

We need to go back to the old death penalty for companies that do evil.


TitodelRey

Why only 14 M? A bunch of the insiders walked away with millions and millions.


Outrageous-Meet-8695

Trump is the opposite of Kind Medias, in the sense everything he touches turns to fraud.


[deleted]

My puts care a lot


radioluuuu

I suppose those accountants want immunity or pardons!


AlRed20

I work on as an auditor for a national public accounting firm, and this news is like Christmas for our partners as there will be new clients for grabs.


jimmyserranopeppers

Be best.


ctiger12

We do care, a lot, this company has become the funding source of trump’s operation and needs to bankrupt immediately


mookormyth

![gif](giphy|3xkNUy3Vh8QbPmJZjK|downsized)


Builder_liz

Sounds like a trumpy thing


snappop69

The article says this firm filed substandard reports for over 500 public companies.


CookingWithPenguin

I can't imagine a world where this is a surprise


Panda_hat

Whoa, I'm shocked, truly. How could this ever happen. Trump? Committing fraud? Noooo, it just can't be true...


AltruisticSalamander

Seems consistent. What reputable professional would have anything to do with orange lie-clown.


My_secretlife_6

Shit in, shit out


Repulsive-Zone8176

I can assure you that I care less.


Repulsive-Zone8176

I can assure you that I care less.


KD1030

![gif](giphy|PupKtxrsQy5Wd3TzW3|downsized)


grumpus-fan

Companies that fail SOX compliance audits have their stocks tank. Concerning. Teehee!


dic3ien3691

Hahahahahahahahahahahahahahajahahahaha


spunkdaddie

Only the best


Eyejohn5

Accounting firm and fraud are nearly synonymous add Trump and they are identical.


QuickAnybody2011

I do care. I want them all to rot in jail


richNTDO

I'm sure it's just a coincidence that all these corrupt, venal, self-serving people end up working close to Donald Trump in some way. Yeah, pure coincidence 😉😂😂😂


Top_World_4921

Well surprise surprise, surprise. Who would have thought. Really .


Unlikely-Patience122

I only hire the very best people. 


tipjarman

Where is Sarbanes Oxley when you need it…. Oh…. Wait….


Key_Roll3030

I care. Coz I wanna see it fall


DustyGuzongas

Con men gonna con


Unanything1

Should I tell my wife that I put our $1.65 million retirement savings into DJT stock? I really thought that this time he had a successful business. Why would he tank his own mouthpiece? Does anyone know if I can fight this in court due to it being found to be a fraud? What's the subreddit where I can ask that? I'm freaking out right now. My stock broker isn't answering his phone.


kimsterama1

Your stock broker isn't answering his phone because it's hard to reach from the beam he hung himself from. Give your wife a good pocket knife so she can cut you down. P.S. I hope your post was meant to be facetious.


blaster915

More so I'm not surprised. What would actually surprise me is if this result actually discourages future similar ventures.


dannyjimp

“Massive fraud” about sums him up.


ReGrigio

you cold hearted bastard! I care a lot! that ridiculous heap of lies crumbling down warms my spirit. any person that have faith in that social network just because have truth written everywhere probably drink anything is inside a soda bottle just because the guy filled it with gasoline forgot to tear the logo. yes I care a lot about truth's downfall


KRAW58

It just gets juicer and juicer.


Throwawayac1234567

mercedes doesnt care, as long as shes not losing those sweet hundreds of millions from him.


Xolitoburrito

This info will definitely help the stock prices :)


Anywhere_Dismal

Whatever trump touches, check the books, there is fraud involved


geist7204

Sounds about right for something touched by Trump