The firm behind Truth Social has been subpoenaed by a grand jury, according to an SEC filing.
Federal prosecutors may be looking into a criminal investigation.
The merger of Digital Wold and TMTG is currently being investigated by the SEC.
The acquisition of the company behind Donald Trump's social media app is being investigated by a grand jury, according to a SEC filing.
Digital World Acquisition Corp warned in its filing that it has been sent a number of subpoenas, which could delay or even kill the merger it is pursuing with Trump Media and Technology Group.
A member of Digital World's board of directors was subpoenaed by a grand jury in the Southern District of New York, according to the filing.
The company was subpoenaed by the grand jury on June 24.
Digital World said in its Monday filing that the subpoenas issued by the grand jury contained similar requests to those made by the SEC.
Federal prosecutors may be looking into a criminal investigation into the acquisition.
Damian Williams, the United States Attorney for the Southern District of New York, refused to speak to The New York Times.
When contacted by Insider, Williams' office didn't reply immediately.
When contacted by Insider outside of normal US hours, Digital World Acquisition Corp and TMTG did not reply.
There are other threats facing Digital World. The company warned in a May filing that Trump's previous failed business ventures, including the Trump Taj Mahal casino, could be vulnerable to bankruptcy.
Truth Social was launched on the App Store in February. In recent months, Trump has begun to use the app more often.
After he posted a video addressing the rioters at the Capitol building, Trump's account was permanently suspended.
The rioters were told by Trump to go home. We are very fond of you. Baseless claims that the election had been fraudulent were repeated.
He was banned by the social network due to the risk of more violence.
Business Insider has an article on it.
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