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Donald Trump’s media company, Trump Media, is reportedly under federal investigation for money laundering violations linked to $8 million.
Federal prosecutors in New York have expanded their criminal investigation of Truth Social to include parent company Trump Media in an attempt to see if they violated money laundering statutes related to the acceptance of $8 million.
Trump Media owns the social media network touted by Donald Trump, Truth Social, which happens to be under federal investigation for payments that were received at a time when the social media company needed money to stay afloat.
According to the Guardian, $8 million was paid to Trump Media in two installments from an offshore bank that is partially owned by an ally of Russian President Vladimir Putin.
Donald Trump’s media company received a payment of $2 million in December 2021, and another $6 million was paid two months later at a time when the company was facing bankruptcy.
Multiple Investigations for Donald Trump
The federal investigation into Trump Media is not Donald Trump’s only potential criminal investigation while the twice-impeached former president attempts to get re-elected in 2024.
Trump was invited to testify before a New York grand jury last week as the Manhattan District Attorney’s office weighs bringing criminal charges for Trump’s role in hush money payments made on his behalf during his 2016 presidential campaign.
Trump was also under investigation by the Department of Justice for a possible Espionage Act violation in 2022 for keeping classified documents at his Mar-A-Lago residence triggering a raid by the FBI. The results of that investigation have not been made public.
The Trump family is also the defendant in a civil litigation filed by the New York Attorney General’s Office where the Trump Organization allegedly provided misleading numbers when evaluating properties for tax purposes.
With all of the investigations happening concurrently, it remains unclear how that will impact Trump’s presidential run if criminal charges do end up being filed.