Hedge fund sells stake in Trump SPAC agency DWAC after merger information

At least one hedge fund has its stake in the SPAC. sold Digital World Acquisition Corp. after The company announced plans to merge with the social media company planned by the former president Donald Trump.

Lighthouse Investment Partners, one of at least nine hedge funds that hold shares in Digital World Acquisition, abandoned its stakes in this particular acquisition company after learning of its merger with Trump’s Venture, the fund told CNBC on Friday.

Lighthouse owned 3.2 million shares, or 11.2% of the SPAC, according to a government filing dated Sept. 30.

“Lighthouse was unaware of the upcoming merger and no longer holds unrestricted shares in SPAC,” the fund said. When asked if Lighthouse had benefited from its DWAC investment, the company said it would not comment.

The sell-off came when DWAC saw that a huge surge in stock price on Thursday following the merger news.

DWAC shares up more than 100% on Friday after the share price more than quadrupled in the previous session.

It’s not clear whether the hedge fund was sold to capture profits from its stake in DWAC or whether it was concerned about the risk of being associated with Trump, who was twice indicted and accused as president of the fatal one For instigating the January 6th Capitol Rebellion among his followers.

The social media app is developed by the Trump Media and Technology Group (TMTG).

Rafael Henrique | LightRakete | Getty Images

SPACs, also known as blank check companies, are formed to raise capital from the public stock markets and then use that cash to merge with a private company that has or will have an actual operating business.

The shares of this merged company will then be traded under the stock market ticker created by SPAC.

Investors in SPACs are generally unaware of the identity of the other company being considered for a merger.

Among the other hedge funds listed as major DWAC shareholders in September, DE Shaw owned 8% of SPAC, or 2.4 million shares, while ARC Capital held nearly 18%, or 6.6 million shares.

Other funds that held stakes in the last month prior to the announcement of the merger were Saba Capital Management, Highbridge Capital Management, Lighthouse Investment Partners, K2 Principal Fund, ATW Spac Management, Boothbay Fund Management, and RG Capital Management.

Highbridge Capital Management and ATW Spac Management declined to comment when asked if they would keep shares in DWAC, and the rest of the hedge funds did not immediately respond to CNBC’s requests for comment.

Another fund listed as a major DWAC investor is ARC Global Investments II, LLC.

The executive member of ARC Global is listed in a government filing as Patrick Orlando, who is also the CEO of DWAC.

CNBC policy

Read more about CNBC’s political coverage:

In an 8-K filing with the Securities and Exchange Commission on Thursday, DWAC announced that it had entered into an agreement and merger plan with DWAC Merger Sub Inc., a wholly owned subsidiary of DWAC, and Trump Media & Technology Group ARC Global Investments II.

Trump’s company, the previously unstarted Trump Media & Technology Group, said in an announcement on Wednesday that his “mission is to create a rival for the liberal media consortium and to fight back against the ‘big tech’ companies of Silicon Valley that have used their one-sided power to silence opposing voices in America.”

Trump was banned from Twitter, his favorite social media platform, and Facebook earlier this year after he was accused of sparking the Capitol invasion.

A top post on the WallStreetBets forum on Friday revealed what the user’s stock portfolio looked like and touted daily winnings of over $ 10,000 from wagering on DWAC. The post calling the former president “Daddy Trump” quickly drew more than 800 comments.

This is the latest news. Check back for updates.

The silence of Donald Trump: how Twitter’s ban is cramping his fashion | Donald Trump

IIt was like the old days. On Wednesday alone, Donald Trump made statements about a possible war with China, what Congress should do about the debt ceiling, false claims about a stolen election and its Fox News ally “The great Sean Hannity”.

But how many people noticed?

Thrown into the wilderness of social media, the former US president is posting statements these days via email and clogging the inboxes of reporters whose attention has turned elsewhere. The era when a single tweet from Trump electrified cable news, shook financial markets and unsettled foreign capitals, is long gone.

His post-presidency online engagement is in free fall, reported the Axios website this week, citing data from SocialFlow, an optimization platform that measures clicks on posts that have been referenced by their network of publishers.

The results show that clicks on content about Trump fell 37% in August and September compared to June and July. This corresponds to a decrease of 50% since March. The decline has been unstoppable since the blockbuster event of Impeachment proceedings against Trump in February.

In short, “the former guy” as Joe Biden calls him who once brutally colonized social media feeds is quickly fading, a victim of the fast news cycle he once ruled over.

Attention has been siphoned off from the current government and what is going on in the countryMonika McDermott

Monika McDermott, a political science professor at Fordham University in New York said, “His online presence has definitely decreased due to a number of factors. First, he was better on Twitter because he was expressive. He was in the moment: people followed him and were kept informed. Any other platform is very difficult for him to navigate with his style and personality. “

“He’s also lost his position as President of the United States, and he doesn’t have any specific elections to actually run for. The attention has been siphoned off from the current government and what’s going on in the country and the Delta variant and all sorts of other things. To the general population he has become to some extent irrelevant, although he is still very relevant to his still very loyal followers. “

Trump had more than 88 million followers Twitter and used it as his social media megaphone to stir up a division, insult opponents, and commit crimes against spelling.

Twitter blocked Donald Trump’s account two days after the January 6 riot in the Capitol. Photo: Joshua Roberts / Reuters

But Twitter joined several other social media platforms banning it after a mob of its supporters attacked the U.S. Capitol on Jan. 6. Twitter called His tweets violated the policy prohibiting the “glorification of violence” and were “very likely” to encourage people to emulate the events of the deadly uprising.

From that moment on, Trump’s ability to dominate the online agenda went into sharp decline. Then he started his own “platform”, a glorified blog that bit the dust after a month. He continues to email statements through his Save America Political Action Committee, but they are often lengthy and rarely cause problems with Cable News Chyron writers.

Michael D’Antonio, a political commentator and author of The Truth About Trump noted, “It’s almost like the difference between a text message and a phone call. People generally don’t want to use the phone anymore, but they will reply to a text message if you are economical with what you write and direct. “

Such failed ventures only serve to show how perfect Trump and Twitter were for each other, a loss he increasingly seems to understand. Earlier this month he has filed a judicial application – urging a federal judge in Florida to force Twitter to restore his account – potentially bringing him back into focus.

He just seemed brilliant at making essentially tabloid headlines every day for Michael D’Antonio

D’Antonio added, “For five or six years there have been hundreds, if not thousands, of journalists tuned to his Twitter editions willing to respond with articles or phone calls to other sources for his form so well used. He just seemed brilliant at doing essentially tabloid headlines every day, which I associate with his lifelong obsession with the tabloids that grew out of it [Rupert] Murdoch and the [New York] Post.

“He got to know his perfect medium on social media, especially Twitter. It connected him to an audience that wasn’t interested in reading more than a few sentences about anything and, in fact, they were prepared for the disinformation that was spread on social media because people were just waiting for the snappy reply. “

The shift means that there has been a noticeable breakup in the past nine months. Trump, who has settled on his Florida or New Jersey estate, has been largely irrelevant to major political debates about the withdrawal from Afghanistan Biden’s infrastructure bill and social spending plans. Mitch McConnell, the Republican minority leader in the Senate, seems to pay little heed to him.

Furthermore, the former president is struggling to get his way and make news, and when he does it is usually because of a harmful exposure from a book or official investigation about his attempt to overturn the 2020 elections. Axios cited data from NewsWhip that showed there were 26% fewer stories about him in August and September than in March and April. And the stories had an average of 28% less engagement on social media.

Donald Trump can still reach his base through rallies like this one last month in Perry, Georgia, speaking to thousands. Photo: Robin Rayne / Zuma Press Wire / Rex / Shutterstock

Even so, Trump is still widely recognized as the unofficial leader of the Republican Party and his “big lie” about a stolen election is anything but To become party orthodoxy. He continues to get a platform from conservative broadcasters like Fox News, Newsmax and the One America News Network. Should he decide to run for the presidency again in 2024, he would immediately be the Republican front runner.

John Zogby, one pollster and author said, “I’m in New York State. I see hundreds of signs for local and judicial races, but also “Honk if you’re with Trump”. The famous “Fuck Biden” shrines are mostly rural but real.

“Trump is running for president. He has his network and that includes talk radio and cable. He will bring more life to Newsmax and the One America News Network. He will find his way because his base wants him. “

Trump’s digital power was complemented from the start by an analog soap box: campaign rallies that offer die-hard fans the opportunity to be in his presence in a community of mourning. It’s likely to attract a huge crowd on Saturday night for a rally in Iowa the first state to have a say in party primaries.

Tara Setmayer, a former Republican communications director on Capitol Hill said, “We are no longer married to our Twitter feeds and cell phones, and we can now actually enjoy Sunday brunch because Donald Trump is not tweeting anything crazy. However, the undercurrent of his presence is still a threat to our politics.

I don’t know how much they can justify keeping Trump out if, from a business perspective, he decides to run again.Tara Setmayer

“Although he’s not that ubiquitous on social media platforms, he’s still out there and he still has a proper media ecosystem that continues to advertise his own kind and that’s problematic.”

Trump would be eligible to return to Facebook in 2023 if his two-year ban has taken its course, just in time for a White House application. At this point, Twitter could also face overwhelming pressure to reinstate him or face charges that a presidential election against a candidate will tip the balance.

Setmayer, a senior advisor to the Lincoln Project, which worked for Trump’s defeat last year, noted that Twitter could have another incentive to bring him back. “I don’t know how much they can justify keeping Trump out if, on a business perspective, he decides to run again, given the many users who have left Trump due to the ban. Their exposure fell, their stocks fell.

“Twitter is still trying to figure out how to make its platform profitable. It can be another reality that Twitter is faced with when unfortunately they have to make their decision. “

Donald Trump vows to cease GOP from elevating cash for Rep. John Katko

Washington – Donald Trump told a radio host Thursday that he would work to prevent House Republicans from raising money for Rep. John Katko and other GOP members of Congress who voted to indict him.

The Joint Fundraising Committee of House Faction Leader Kevin McCarthy has deposited more than $ 100,000 in Katko’s campaign account this year, Federal Electoral Commission records show.

Katko, R-Camillus, is one of several dozen House Republicans supported by McCarthy’s leadership committee.Take the house back 2022. “

Trump, in an interview The John Fredericks radio show, pledged to ensure that Katko and four other House Republicans who voted for impeachment are cut off from future financial support from McCarthy’s committee.

“I’ll see who he funds,” Trump said of McCarthy, “and if so, I’ll stop the whole deal. I will stop doing that. “

Katko, R-Camillus, is under 10 House Republicans who voted for impeachment against Trump for inciting the January 6 attack on the US Capitol.

Katko, who was asked about Trump last week, said he should no longer be considered a Republican Party leader. The four-year-old congressman also said he would not be intimidated by the former president.

“I do not withdraw from anyone when it comes to political threats” Katko told the editors of syracuse.com | The Post standard. “I’m not worried about that.”

McCarthy’s joint fundraising committee supported five of the ten Republicans who voted for impeachment. In addition to Katko, the other GOP representatives are Peter Meijer from Michigan, David Valadao from California, Fred Upton from Michigan and Jaime Herrera Beutler from Washington.

“All but one – Katko in New York, he’s not popular, and I think he’s going to get out of the district – but there is an area code for each of them,” Trump told Fredericks.

Trump was referring to the fact that no major Republican opponent of Katko has emerged in Onondaga County, where Katko resides.

The New York Independent Redistricting Commission last week revealed two partisan plans to set new boundaries for Katko’s district.

The democratic plan would Merge parts of Katko’s 24th congressional district with that of GOP Rep. Claudia Tenney in the neighboring 22nd district. Trump has promised to support Tenney when she competes in a primary against Katko.

Trump has also encouraged Onondaga County’s Conservative Party leaders to Put up a candidate to join Katko. to oppose next year in a possible elementary school.

Katko is vice chair of the National Republican Congressional Committee, the fundraising arm for Republicans in the House of Representatives. He has received financial support from the NRCC in each of his previous campaigns.

Do you have a tip, comment or a story idea? Contact Mark Weiner at any time at: E-mail | Twitter | Facebook | 571-970-3751

Donald Trump Getting ‘Obscene’ Quantity of Cash for Calling Holyfield Battle

Donald Trump does way more than just name a fight this weekend … he’s bragging about making an outrageous amount of money on the gig, and his deal has an insane advantage.

Several direct-to-know sources tell TMZ that Trump says he makes an “obscene” amount of money by posting “live, alternative comments” on the news Evander Holyfield/Vitor Belfort Struggle. Was said Thriller, the media company behind the event is paying a fortune … millions and millions for its blow-by-blow analysis, although our sources wouldn’t be more specific.

And there is more. Trump says Triller is providing him with a G-5 jet to take him back and forth. What is unclear … Trump lives in West Palm Beach, a stones throw from Hard Rock in Hollywood, Florida, where the event is taking place. So this is a car ride, not a plane trip. It is possible that Trump could head to New York City earlier in the day to commemorate 9/11.

Waiting for your permission to load the Instagram media.

We don’t know what Triller pays Don Jr.who will join his Father with comment.

We were told the deal was sealed on Labor Day weekend … a deal Trump just couldn’t refuse.

Our sources say that not everyone involved with the event is delighted, and some are downright angry.

We contacted Triller … not a word back so far.

Michael Caputo ‘Not Snug’ With His ‘Smashmouth’ Type Advising Donald Trump

Former Trump administration official Michael Caputo said he was “no longer comfortable” with the political style he used to advise the former president.

Caputo, who served as Assistant Secretary for Public Affairs in the Department of Health and Human Services (DHSS) under the former President Donald TrumpHe spoke to Michael Kruse from Politico about his life since he was diagnosed with cancer in September 2020.

In a long article about his conversations and exchanges with Caputo, Kruse reported that friends of the former Trump campaign advisor believed that his recent experiences had changed him.

Caputo said in a phone call to Kruse: “I was a Smash – I am a Smashmouth politician.”

“I didn’t sit down to argue with people I disagreed with the fundamental nature of the American republic – I attacked them and punched them in the nose,” said Caputo.

“And I don’t feel comfortable with it anymore. I am not. I can’t be I almost died from it. It’s a fact.

He continued, “Thanksgiving made me live and understand that I should, but the way to really get away from ragged politics and understand that there is much more has been an iterative process, sort of a gradual shift that accelerated through January 6th. “

“Because it was the first time I saw a wedge between myself and other allies, because I would never have, never, because all I could do was see myself sitting there as a young man and staring across the mall. eat my sandwich, “said Caputo.

Caputo was part of a group of republican who tried Trump to run for New York governor in 2013 and 2014, and worked on Trump’s presidential campaign in 2015 and 2016.

In April 2020, Trump appointed Caputo as deputy secretary for public affairs for the DHSS. In that capacity, Caputo was charged with reporting reports from the Centers for Disease Control and Prevention (CDC) on the COVID-19 pandemic, ostensibly in an effort to make the former president’s position look better.

Caputo posted a video on September 14, 2020 at Facebook where he claimed “killer squads are being trained across the country” to resist a second Trump term by force.

“You understand that they have to kill me, and unfortunately I think they can,” said Caputo at the time.

Caputo told Politico, “It was raw, man. I get it. It looked bad. An assistant secretary for public affairs should never have done such a thing. I shouldn’t have done it. I apologized to my team.” at HHS for making your life harder when You tried to stop people from getting sick. And that’s all they tried to do. I apologized to my team. I apologized to all 400. “

He had only just been informed that he had cancer before making the remarks, but Caputo also said he doesn’t regret what he said and told Kruse, “I didn’t apologize for being myself. Everything I said in this video, I meant it. “

Towards the end of the Politico article, Kruse sketched out several text messages that Caputo had sent him after a conversation last week. In this news, Caputo is said to have said that he believes the 2020 presidential election was fraudulent in many states and that COVID-19 was created in a Wuhan laboratory.

Former Trump campaign aide Michael Caputo (L) waves goodbye to reporters after testifying to the House Intelligence Committee during a closed session at the U.S. Capitol Visitors Center on July 14, 2017 in Washington, DC. Caputo said he was no longer comfortable with his previous political style, “Smashmouth”.
Chip Somodevilla / Getty Images

Trump raises huge cash in early 2021, however does not spend a lot

Former US President Donald Trump speaks during his first post-presidency campaign rally at the Lorain County Fairgrounds in Wellington, Ohio, USA, June 26, 2021. REUTERS / Shannon Stapleton

WASHINGTON, Jul 31 (Reuters) – A fundraising group led by former President Donald Trump raised $ 62 million in the first half of the year but only spent $ 3 million, with most of the money going to a pro Trump Research Center and more than $ 65,000 in Trump’s own hotels, according to federal files released on Saturday.

Trump, a Republican, formed the Save America Committee in November shortly after the presidential election defeat by Democrat Joe Biden. Under the rules of the Federal Election Commission (FEC), the committee has a lot of leeway in how it can use its money.

A filing with the FEC showed that Save America made a $ 1 million contribution in June to the America First Policy Institute, a nonprofit run by veterans of its government.

The group’s leadership includes Brooke Rollins, who headed the White House Domestic Policy Council under Trump, and Larry Kudlow, who headed Trump’s National Economic Council.

The money spent at Trump hotels has been described as coverage for accommodation or meals, according to Save America.

Another Trump-controlled committee, a former campaign account now known as the Make America Great Again PAC, spent an additional $ 13 million in the first half of the year mainly to cover legal fees and Trump’s efforts to recapture his November election loss to undo, so a separate FEC registration.

Together, the two committees raised most of the nearly $ 82 million that Trump’s office claims brought together between January and June.

Trump-affiliated committees ended the period with nearly $ 102 million in cash, a sum that could help the former president wield significant sway ahead of next year’s election, in which Republicans hope to gain control of Congress . Democrats have narrow majorities in the House of Representatives and the US Senate.

But while Trump is his party’s main fundraiser and continues to raise large sums for the Republican National Committee, his committees did not give any money to political candidates in the first half of the year.

A spokesman for his office said checks for $ 5,000 were sent in July to candidates he supported. Details of these contributions are expected in the FEC filings due later in the year.

Many of the candidates Trump has endorsed, especially those challenging incumbent Republicans or seeking open seats, lag far behind their opponents in raising funds. Trump-backed Kelly Tshubaka, who challenges Alaska Republican Senator Lisa Murkowski, had about $ 2 million less in her campaign bank account than Murkowski at the end of June.

Republicans will face a well-funded list of Democrats in next year’s elections.

According to a statement filed on Saturday, the Democrats raised over $ 373 million in online donations in the first six months of the year through ActBlue, the party’s dominant payment processor. That surpassed the $ 258 million Republicans raised through their online payment processor, WinRed, over the same period.

Reporting by Jason Lange; Arrangement by Christopher Cushing

Our standards: The Thomson Reuters Trust Principles.

Trump foe Michael Avenatti sentenced in Nike extortion case

Attorney Michael Avenatti arrives at the U.S. courthouse in the Manhattan neighborhood of New York City (SDNY) in New York, United States, on July 8, 2021 for his hearing on his conviction in an extortion program against Nike.

Brendan McDermid | Reuters

Michael Avenatti, the cheeky lawyer who had been a major enemy of the then president Donald TrumpHe was sentenced Thursday to 30 months in prison for a brazen, botched plan to blackmail the sportswear giant Nike of up to $ 25 million.

That sentence was much less than the nine years, which was the lowest of the sentences proposed by federal guidelines, and nowhere near a “substantial” jail sentence being sought by federal attorneys for the California attorney.

“I alone have ruined my career, my relationships and my life. And there is no doubt that I will have to pay,” said Avenatti, 50, Manhattan Federal Court Justice Paul Gardephe tearfully before he was convicted.

“I am really sorry for all the pain I have inflicted on Mr. Franklin and others,” said Avenatti, referring to his former client, Gary Franklin, an amateur basketball coach.

Avenatti’s conviction came more than three years after he gained widespread fame and disgrace. for his bombastic portrayal of pornstar Stormy Daniels, who received a hush payment of $ 130,000 from Trump’s attorney at the time, Michael Cohen, ahead of the 2016 presidential election in order to keep silent about claims that she had sex with Trump years before he ran for the White House.

Daniels is one of several former Avenatti clients he is charged with on two other separate federal fraud charges, one of which is scheduled to begin in California next week.

Gardephe said Mr Avenatti’s behavior in the Nike program was outrageous.

“He kidnapped his client’s claims and used them to advance his own agenda of extorting millions of dollars from Nike for himself,” said the judge, who also sentenced Avenatti to three years of supervised release in the event that Avenatti was killed Sentenced in court last year.

“He really betrayed his client,” said Gardephe.

Franklin had hired Avenatti to reform Nike, which Franklin had claimed was corrupting amateur players and their families

Avenatti then used this request in early 2019 to not only demand a settlement with Franklin, but also a more lucrative advisory agreement from Nike for him and senior attorney Mark Geragos to avoid a press conference at which he would make Franklin’s allegations.

Avenatti warned Nike’s attorney that the allegations “could reduce your client’s market capitalization by $ 10 billion”.

“I don’t play around with it and I don’t play any more,” Avenatti told Nike lawyers shortly before his arrest.

Attorney Michael Avenatti is leaving the court after being convicted of an extortion program against Nike Inc. on July 8, 2021 at the U.S. Courthouse in New York City.

Brendan McDermid | Reuters

Gardephe noticed this language during Thursday’s hearing in which he said, “Mr. Avenatti was drunk from the power of his platform or how he perceived the power of his platform.”

But Gardephe added that Avenatti deserved a lighter sentence than the range recommended by federal guidelines – from nine years to 11 years and three months – because the judge said for the first time in the case: “Mr. Avenatti has expressed what I believe to be heavy regrets today. “

The judge also cited the brutal conditions under which Avenatti was held in a federal prison in Manhattan for several months after his arrest in 2019.

And Gardephe, in substantiating the lower-than-recommended verdict, pointed out that federal prosecutors did not prosecute Geragos even though they claimed he was actively involved in the shakedown with Avenatti.

The judge ordered that Avenatti, who remains in custody, must surrender on September 15 to begin his sentence, which Gardephe recommended to serve at the Sheridan, Oregon federal prison camp.

Avenatti’s lawyers had asked for a prison sentence of just six months.

During his statement to Gardephe, Avenatti noted that as a child, while other children dreamed of becoming professional athletes, said, “I dreamed of becoming a lawyer. Of becoming a trial lawyer.”

“About doing good and seeking and achieving justice.”

“I did just that for years, but then I got lost. I gave away my own values, my friends, my family and myself,” he said.

“I gave away my job. I was driven by the things that don’t matter in life. For the past two years, Your Honor, I’ve been thinking why this had to happen,” said Avenatti, who admitted he would never work as a lawyer again.

“I’ve learned that all the fame, the money motorism in the world is meaningless,” said Avenatti.

Avenatti collapsed and took a few moments to calm himself down as he discussed the effects of his behavior on his three children.

He said that most people want their children to be proud of their fathers, but in the case of his own three children, “I want them to be ashamed of him”.

“Because if you’re ashamed, it means your moral compass is exactly what it should be,” he said.

Avenatti will face indictment at his trial next week Crimes that involve defrauding customers for millions of dollars. One of these clients was a mentally ill paraplegic.

Avenatti will face charges of alleged fraud against Daniels in Manhattan federal court next year $ 300,000 in proceeds for a book she wrote.

As in the Nike case, Avenatti pleaded not guilty in the other two cases.

During Thursday’s conviction, U.S. Assistant Attorney Matthew Podolsky told Gardephe that Avenatti had a “profound lack of remorse” for his behavior.

“It’s about taking advantage of people and abusing power and trust,” said Podolsky.

“He saw Mr. Franklin as a way to get rich, to make Mr. Avenatti rich.”

But Avenatti’s attorney Perry pleaded forbearance, saying, “He had an epic fall, he was publicly shamed.”

Perry said that while Avenatti pursued and then achieved a legal career, “really wanted to be the David fighting the Goliath”.

But she remarked, “He’s certainly lost and he knows it.”

CNBC policy

Read more about CNBC’s political coverage:

“I can tell you … he’s a completely humble man who got beaten up by himself,” said Perry.

Perry also advocated a shorter term because Avenatti and Geragos were treated differently.

“It is impossible to distinguish between the conduct of Mr. Avenatti … and that of Mark Geragos, whom they did not charge at all,” said lawyer Danya Perry.

“The Nike lawyers, on the other hand, believed Mr Geragos was a full participant and felt as threatened and blackmailed by him as they were by Mr Avenatti.”

The contrast between the tearful Avenatti on Thursday and the sharp-tongued, Twitter-obsessed lawyer he was in 2018 was dramatic.

Avenatti has been beating Trump and Trump’s former personal attorney Michael Cohen for months this year after it was revealed that Cohen paid Daniels the hush money so as not to affect Trump’s chances of winning the White House. Trump denies having sex with Daniels.

After the hush money program was exposed, Avenatti has been an almost constant presence on cable television news attacking Trump and Cohen.

Avenatti’s notoriety and popularity with some of Trump’s opponents grew so high that at one point he flirted with running for the Democratic presidential run in 2020.

But the attorney’s commercial flash came as he staggered under millions in debt, a burden prosecutors alleged had committed the series of serious crimes he was charged with in early 2019.

Cohen, who spent more than a year in jail for crimes that included a campaign funding violation related to the payout of Daniels, said in a Twitter post that he heard Avenatti’s conviction over a phone line issued as a result of the Covid-19 pandemic has been set up.

“Despite my disdain for Avenatti for all the lies he said about me, I was glad the 108-135 month guideline was drastically reduced by a measured and logical judge,” Cohen tweeted. “Job well done by @Edanyaperry“He added, using the Twitter handle from Perry, Avenatti’s attorney.

Trump hosts campaign-style rally in Florida as he goals to retain Republican highlight | WTVB | 1590 AM · 95.5 FM

Trump Holds Campaign Style Rally In Florida To Get Republican Spotlight | WTVB | 1590 AM · 95.5 FM | Branch County’s voice

Shut down

For the health and safety of all, our offices are temporarily closed to the public. If you have won a prize from us, we will send it to you or contact you with the specific information required to redeem your prize. If you have any questions, please feel free to call us during business hours on working days at (517) 279-1590.

Trump Group Costs: A Probe of Hush Cash Moved to Fringe Advantages

The indictment against the Trump Organization and its chief financial officer arose out of an investigation into what appeared to be an unrelated matter: the now infamous $ 130,000 payment to adult film actress Stormy Daniels.

The Manhattan Attorney’s investigation into a hush money payment to the alleged lover of former President Donald Trump has since turned into a comprehensive investigation into the Trump Organization’s business practices, including whether it was involved in banking, insurance and tax fraud.

This week, an investigation that stalled several times over three years finally reached a courtroom indicting the Trump Organization and its chief financial officer Allen Weisselberg on tax charges. The prosecutor, who works with the New York attorney general, accused the company and its CFO of running a 15-year tax avoidance program by offering Manhattan apartments, luxury cars, and private schooling as off-the-books compensation.

The Trump Organization and Mr. Weisselberg pleaded not guilty, and their lawyers said they would take action against the charges.

The charges go well beyond the investigation’s original focus – the handling of the payment to Ms. Daniels by the Trump Organization, which was supposed to silence her over her allegations of sexual encounter with Mr. Trump. Former prosecutors said Thursday’s charges could become a stepping stone to bringing broader charges against Mr Trump himself if Mr Weisselberg asked for leniency in return for testifying against his longtime boss.

Trump Group CFO Allen Weisselberg will plead not responsible on indictment

Allen Weisselberg, Chief Financial Officer of the Trump Organization, surrendered to the Manhattan Attorney’s Office on Thursday morning to an indictment also accusing ex-President Donald Trump of doing business.

Weißelberg, who served Trump as a loyal executive officer for decades, is expected to face criminal charges in a state court later on NBC News reports that it relates to fringe benefits granted by the Trump Organization. At about the same time, the indictment is unsealed.

The Trump organization is represented in the court proceedings by a lawyer.

Although the Trump organization is being charged as a company in the case, Trump himself is not being charged personally. The company faces possible fines and other sanctions if convicted.

Weisselberg 73, walked into the Lower Manhattan attorney’s office at 6:17 a.m. to handle the case.

His lawyers, Mary Mulligan and Bryan Skarlatos, said in a statement: “Mr. Weisselberg intends to plead not guilty and will address these allegations in court.”

The accusation was received by a grand jury on Wednesday at the behest of the DA office and the office of New York Attorney General Letitia James.

Prosecutor Cyrus Vance Jr. refused to comment on the case as he passed reporters asking if he had anything to say.

“Just good morning and I’ll see you at 2:15,” Vance said, referring to the probable time of the indictment.

Allen Weisselberg, CFO of the Trump Organization.

Timothy A. Clary | AFP | Getty Images

Shortly after Weisselberg’s surrender, the Trump organization blew up Vance.

CNBC policy

Read more about CNBC’s political coverage:

“Allen Weisselberg is a loving and devoted husband, father and grandfather who worked for the Trump organization for 48 years,” a company spokesman said in a statement.

“He is now being used by the Manhattan District Attorney as a pawn in a scorched earth attempt to harm the former president,” the spokesman said.

“The district attorney is bringing a criminal prosecution with employee benefits that neither the IRS nor any other district attorney would ever think of. This is not justice, this is politics.”

Vance’s office has been investigating the Trump organization on various issues for several years.

Manhattan District Attorney Cyrus Vance arrives at the Manhattan District Attorney’s Office in New York, United States, on Thursday, July 1, 2021.

Mark Kauzlarich | Bloomberg | Getty Images