Whistleblower Trump Media executive says firm violated federal securities laws

The co-founder of Donald Trump’s beleaguered social media company has turned whistleblower, alleging the firm violated federal securities laws and that the former president pressured executives to hand over lucrative shares to his wife.

Will Wilkerson, a former Trump Media and Technology Group executive, has told the US government’s financial watchdog that the company’s bid to raise more than $1bn via an investment vehicle known as a special purpose acquisition company (Spac), relied on “fraudulent misrepresentations … in violation of federal securities laws.”

The whistleblower complaint was first reported by the Miami Herald, but Trump Media fired Wilkerson last Thursday, citing his “unauthorized disclosures” to the Post. His lawyer Phil Brewster described the move as “patent retaliation against a SEC whistleblower of the worst kind”.

Investors were promised more than 50 million users by 2024, but so far Trump, the main attraction on the platform, has less than 5 million followers – just a fraction of the 88 million he had on Twitter.

MSN Whistleblower Trump Media executive says firm violated federal securities laws