The House Oversight Committee is being called on to investigate possible influence peddling by the ex-president related to Trump Media stock.
The Congressional Integrity Project wrote to House Oversight Committee Chair James Comer (R-KY):
In light of your stated interest in rooting out corruption and influence peddling, we want to draw your attention to a new troubling report about Trump Media & Technology Group receiving funding from a Russian-backed trust1 as well as the news Wednesday that two investors in Trump Media pleaded guilty to securities fraud.
We are calling on you to investigate possible influence peddling and corruption involving a former president and current presidential candidate.
…
While you have demonstrated that you are willing to do anything to protect Donald Trump and his fact-based, undeniable Russian connections while at the same time accepting the demonstrably false claims against Joe Biden made by Russian agents, this is an opportunity to put country over fealty to Trump. Should you desire more examples of the damning evidence implicating President Trump and his family in influence peddling with foreign adversaries, we stand ready to assist you and we are looking forward to the first Congressional hearing on the matter.
With the stock falling like a stone, and Trump pumping it with outrageous claims on Truth Social, it is only a matter of time until the shareholder lawsuits get involved and the appropriate federal agencies launch an investigation.
This isn’t one hundred years ago. Laws exist to protect investors from the sort of apparent scam that Trump and his associates are running. Truth Social won’t disclose its full data to investors. The company won’t tell investors how many users it has, and appears to lose money at an alarming rate.
In other words, it has all the appearances of another Trump fraud scheme.
James Comer and House Republicans are unlikely to step up and do anything, but letters such as this one are important for generating public attention and pressuring regulators to do something.
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