A co-founder of Truth Social’s media parent company was kicked off the company’s board after ignoring Donald Trump’s demands to donate some of his stock to Melania Trump, a pitcher has claimed alert The Washington Post.
Trump lobbied for the gift to his wife even though he had already received 90% of the shares of Trump Media & Technology Group (TMTG) in exchange for the use of his name and another “minor involvement”, l ex-corporate executive Will Wilkerson told the Post.
The company’s co-founder reportedly dodged the request, telling Trump it would leave him with a tax bill he couldn’t pay. “Do whatever you need to doretorted Trump, according to Wilkerson.
He was kicked off the board five months later in what Wilkerson sees as payback for not handing a “small fortune” to Melania Trump, the newspaper reported on Saturday.
The incident was part of a series of explosive revelations backed up by multiple documents seen by the newspaper about bitter infighting in Trump’s business, technical errors, questionable financial representations and what Wilkerson insisted were violations of the Securities and Exchange regulations, according to the Post.
Wilkerson filed a whistleblower complaint to the Securities and Exchange Commission in August regarding the company. Wilkerson’s attorney told the newspaper that he is also cooperating with the surveys in Trump Media by the SEC and by federal prosecutors for the Southern District of New York.
Wilkerson was fired from his job on Thursday as Senior Vice President of Operations of TMTG after speaking to the Post.
Trump Media said in a statement responding to several specific questions from the Post regarding Wilkerson’s information that Trump, as chairman of the company, had hired former California Republican congressman Devin Nunes as CEO to ” create a culture of compliance and build a world-class team to lead Truth Social.”
The statement complained that the Post “sent us an investigation full of knowingly false and defamatory statements and other concocted psychodramas.”
He did not specifically answer any of the Post’s questions, according to the newspaper.
The new information follows a long list of bad news for Trump’s Truth Social and Media company.
Digital World Acquisition Corp. – the special purpose acquisition company (SPAC) that Truth Social needs to go public – revealed in a Filing with the Securities and Exchange Commission last month that investors had already waived $139 million in commitments of the billion dollars previously announced by the company.
There’s probably more to come. Investors, who agreed to provide the money almost a year ago, can now waive their commitments because Digital World missed its original September 20 deadline merge with Trump Media. This deadline has been extended by three months after shareholders refused to approve his offer for a 12-month extension. But investors can still withdraw.
A major web hosting operator complained in August that Social truth owed approximately $1.6 million in contractually obligated payments, with an allegation suggesting that the finances of the operation are in “significant distress“, Fox Business News reported.
In another setback, Truth Social’s the trademark application was rejected in August because its name sounded too similar to other operations.
Trump insisted last month that he was not concerned about Truth Social’s money troubles because, he explained, “i’m really rich“, he posted on the social media platform. “I don’t need funding.”
Yet in the next sentence he asked, “Private company, anyone???” in what appeared to be an invitation to investors.
This article originally appeared on HuffPost and has been updated.