Donald Trump · New York · Fortune Technology
‘It’s so corrosive to democracy’: Over 50 federal prosecutors speak out against Trump’s $100,000 a month ‘insider trading’ scheme
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Trump’s plan to sell earlier access to his Truth Social posts for six-figures has hit a new wrinkle.
Key facts
- There is potential criminal liability for folks who have paid the $100,000,” she said, “and so that would extend to folks who have already paid the $100,000, and for future folks
- The 53 former prosecutors and law enforcement agents filed an amicus brief Monday in the Southern District of New York in support of a preliminary injunction from The Intercept and the Freedom
- Truth API is a data licensing product launched by Trump Media & Technology Group, the parent company of Truth Social
- Reports estimate nearly a dozen firms have already signed up for the $100,000 a month service
Summary
The 53 former prosecutors and law enforcement agents filed an amicus brief Monday in the Southern District of New York in support of a preliminary injunction from The Intercept and the Freedom of the Press Foundation. “It’s so corrosive to democracy and to the public interest when we see the president financially benefitting from his official role,” Renata O’Donnell, senior legal counsel at the Campaign Legal Center which worked with Singleton Schreiber on the filing, told Fortune. “There is no legitimate, let alone significant, government interest in allowing public officials to profit personally by selling early access to official government announcements,” the filing read. Truth API is a data licensing product launched by Trump Media & Technology Group, the parent company of Truth Social.