A co-founder of Truth Social’s media parent company was forced off the company’s board after ignoring demands from Donald Trump that he donate a portion of his stock to Melania Trump, a whistleblower told The Washington Post.
Trump pushed for the giveaway to his wife, even though he had already been given 90% of Trump Media & Technology Group (TMTG) stock in exchange for using his name and another “small stake” from former company executive Will Wilkerson, the Post said .
The company’s co-founder reportedly dodged the request, telling Trump it would leave him with a tax bill he couldn’t pay. “Do whatever you have to do,” Trump snapped back, according to Wilkerson.
He was pushed off the board five months later in what Wilkerson believed was payback for failing to hand over a “small fortune” to Melania Trump, the newspaper reported Saturday.
The incident was among a series of bombastic revelations made by several documents seen by the newspaper about bitter infighting in the Trump deal, technical glitches, questionable financial accounts and what Wilkerson insisted were violations of Securities and Exchange Commission regulations, according to the newspaper the Post, were supported.
Wilkerson filed a whistleblower complaint regarding the company with the Securities and Exchange Commission in August. Wilkerson’s attorney told the newspaper that he is also cooperating with ongoing investigations into Trump Media by the SEC and federal prosecutors from the Southern District of New York.
Wilkerson was fired from his job as TMTG’s senior vice president of operations on Thursday after speaking to The Post.
Trump Media, in a statement responding to several specific questions from the Post about Wilkerson’s information, said that Trump, as chairman of the board, hired former California Republican Congressman Devin Nunes as CEO to “create a culture of compliance and a world-class team.” build to lead Truth Social.”
The statement complained that the Post “sent us a request that was full of knowingly false and defamatory statements and other fabricated psychodramas.”
According to the newspaper, it did not specifically address the Post’s questions.
The new information follows a growing list of bad news for Trump’s social and media company, Truth.
Digital World Acquisition Corp. — the Special Purpose Acquisition Company (SPAC) tasked with taking Truth Social public — said in a filing with the Securities and Exchange Commission last month that investors had already backed out of previously announced $139 million in commitments the enterprise.
There’s probably more to come. Investors who agreed to raise the money nearly a year ago can now drop their commitments because Digital World missed its original September 20 deadline to merge with Trump Media. That deadline was extended by three months after shareholders rejected their offer for a 12-month extension. But investors can still back out.
A major web hosting operator complained in August that Truth Social owed about $1.6 million in contractual payments, a claim that suggested the company’s finances were in “significant disarray,” Fox Business News reported .
Another setback was that in August, Truth Social’s application for a trademark was denied because its name was too similar to other companies.
Trump last month insisted he wasn’t bothering about money worries at Truth Social because he declared, “I’m really rich,” he posted on the social media platform. “I don’t need funding.”
But in the next sentence, he asked, “Private company, anyone???” in what appeared to be an invitation to investors.
View the full story of The Washington Post here.
This article originally appeared on HuffPost and has been updated.