Posted BY: Cristina Laila

A federal grand jury and the Securities and Exchange Commission (SEC) subpoenaed President Trump’s social media company on Friday.

According to CNBC, Trump Media and Technology Group said it would comply with the subpoenas.

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Although some employees received subpoenas, none were issued to Trump or TMTG CEO Devin Nunes.

“The Justice Department and the SEC, which regulates the stock market, are investigating the deal between DWAC and Trump Media. By merging with DWAC, which is a kind of shell company called a special purpose acquisition company, or SPAC, Trump’s firm would gain access to potentially billions of dollars on public equities markets.” CNBC reported.

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