Former Watergate prosecutor Nick Ackerman said former President Trump is “toast” in his New York civil fraud case.
New York Attorney General Letitia James’ case accuses Trump, his two adult sons, the Trump Organization, and top executives of falsely inflating the values of Trump’s real estate properties and other assets in order to get tax benefits and better loan terms.
James seeks around $250 million in damages, and she wants to bar Trump and his co-defendants from running another business in New York.
According to The Hill, Ackerman argued people are not only focused on the former president’s testimony but also his deposition with James’s lawyers last summer, where he invoked the Fifth Amendment more than 400 times.
“Now what does it mean to take the Fifth Amendment? It means that you are refusing to answer a question, because a truthful answer would tend to be incriminating,” Ackerman said. “Then what did Donald Trump do last week? He went into court and said, ‘Oh, I didn’t do anything fraudulent, I wasn’t involved in a fraud.’ Which is just the opposite what in effect he was saying when he took the Fifth Amendment in his deposition.”
“So you’ve got contradictory testimony,” Ackerman continued. “You can use his assertion of the Fifth Amendment against him to basically find that he’s lying, that he’s manipulating the system when he goes in, refuses to answer questions, answers the questions in a half-baked manner.”
Earlier this week when Trump took the stand he fiercely defended his business practices and condemned those involved in the case as politically motivated “Trump haters.”
“I just don’t see how this judge at the end of the day is not going to find that, with respect to Donald Trump … ‘Liar, liar, pants on fire,’” Ackerman said.
Ackerman said that in his more than 40 years of civil law experience, he has never seen anyone “do such a stupid move as to suddenly start testifying” after they’ve taken the Fifth Amendment.
The public shell corporation that has been preparing to merge with former President Donald Trump’s technology firm—the parent company of his social media platform, Truth Social—announced Thursday that it was dropping its plans to pursue the merger through a specialized process called a private investment in public equity (PIPE) transaction. The company also said it planned to return $533 million it had raised from investors to complete the deal. The merger between Digital World Acquisition Corp. (DWAC), a special purpose acquisition company, and Trump Media & Technology Group failed to materialize by a September 2022 deadline set by U.S. regulators, giving DWAC the option to back out of the deal. A TMTG spokesperson claimed in a release Thursday that the two companies still planned to merge and said the development was, in fact, a positive step—but declined to comment when pressed by Reuters to say how backing out of the PIPE deal would benefit either party.
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On Thursday, a Manhattan grand jury found financier Bruce Garelick guilty of insider trading charges in a scheme that involved the merger of former President Donald J. Trump’s social media company with a publicly traded shell company.
Federal prosecutors had charged Garelick with five counts of securities fraud and conspiracy.
Statement of U.S. Attorney Damian Williams on the conviction of Bruce Garelick
Authorities claimed Garelick shared confidential information with his boss and at least one other person that Trump Media & Technology Group, the parent company of Truth Social, was close to announcing a merger with Digital World Acquisition Group, the shell company.
Mr. Garelick, 54, a former hedge fund manager, had been a board member of Digital World.
The information helped two brothers — Michael Shvartsman and Gerald Shvartsman — make nearly $23 million in illegal trading profits by buying Digital World securities in advance of the announcement, which sent the stock soaring. Mr. Garelick, who worked for Michael Shvartsman at a small Miami-based venture capital firm called Rocket One, made about $50,000 by trading off what authorities said was nonpublic information.
Last month, the Shvartsman brothers decided to forgo a trial and pleaded guilty to securities fraud charges. In their plea agreements, prosecutors have recommended a sentence of roughly four to five years for Michael Shvartsman; and three to four years for his younger brother.
Digital World raised about $300 million from investors in its initial public offering in September 2021. A little over a month later, the SPAC announced a deal to merge with Trump Media. After a long delay, the merger was completed in March and Trump Media became a publicly traded company. Mr. Trump’s nearly 70 percent stake in the firm is worth about $6 billion.
In a closing argument, Daniel Nessim, a federal prosecutor, described Mr. Garelick as a “sophisticated professional” who “cheated” and used inside information to benefit himself and his boss, Michael Shvartsman.
Garelick could face at least 25 years in prison.
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As Florida legislators weigh a proposal to rename Palm Beach International Airport after President Donald J. Trump, a related trademark filing by a company associated with the Trump Organization is drawing national attention — and predictable political reactions.
Public records show that DTTM Operations, an entity tied to the Trump Organization, filed trademark applications on Feb. 13 for “President Donald J. Trump International Airport” and “Donald J. Trump International Airport.”
A spokesperson for the Trump Organization said the filings are purely defensive and not intended to generate revenue.
“To be clear, the President and his family will not receive any royalty, licensing fee, or financial consideration whatsoever from the proposed airport renaming,” spokesperson Kimberly Banza said in a statement. She explained that the trademark applications are meant to prevent “bad actors from infringing upon or misusing the name.”
The proposal to rename the airport comes as Florida’s GOP-controlled legislature considers honoring Trump, whose Mar-a-Lago residence is located in Palm Beach. Supporters see the move as a fitting recognition of a former and current president with deep ties to the region and a significant political legacy.
Critics, however, have seized on the trademark filings to raise concerns about potential conflicts of interest. Dylan Hedtler-Gaudette of the nonprofit Project on Government Oversight argued that the situation highlights broader questions about presidential business holdings.
Trademark attorney Josh Gerben, who first reported on the filings, described the move as unusual, noting that while airports have been named after past presidents, a sitting president’s private company seeking trademark protection in advance appears to be unprecedented.
Gerben suggested that the filings raise technical legal questions about whether a publicly owned airport would need permission to use the name if it were trademarked — though no such arrangement has been proposed.
The broader political backdrop is hard to ignore. President Trump has long been a polarizing figure, and even routine legal filings tied to his name tend to generate outsized scrutiny. Supporters argue that trademark protection is standard practice for high-profile public figures and brands, particularly given Trump’s long history as a global business leader.
The White House has not indicated that the president is personally involved in the legislative effort. Trump has also denied reports that he is seeking to have other major transportation hubs, such as Washington’s Dulles Airport or New York’s Penn Station, renamed in his honor.
For now, the proposal remains in the hands of Florida lawmakers. Whether the renaming effort moves forward — and whether the trademark filings ultimately matter — will depend on decisions made at the state level.
Photos from the opening of the new Delta Air Lines terminal in LaGuardia Airport in Queens, NY, on Tuesday, Oct. 29, 2019. (Chris Rank for Rank Studios) (Photos from the opening of the new Delta Air Lines terminal in LaGuardia Airport in Queens, NY, o
Look at how far Andrew Cuomo has sunk.
After resigning as New York Governor due to allegations of sexual misconduct Cuomo announced he plans to start a new business venture. Cuomo’s newest foray into the public sphere comes in the shape of a podcast and one of his first guests is scheduled to be President Donald Trump’s former communications director Anthony Scaramucci.
Scaramucci, who briefly served the Trump administration in 2017, has emerged as a critic of Trump and expressed his support for Biden in the 2020 election.
Cuomo will this week debut a new hourlong show he is calling “As a Matter of Fact” on podcast streaming service Quake, he told Axios, and the show will aim to “hear from people — their questions, their issues — and have that dialogue.”
The former governor told Axios this week he has “learned from the entire situation.”
“There’s a fundamental problem with the entire system here,” Cuomo told the outlet of the media ecosystem writ large. “We have such division of people and we have such dysfunction of government, and part of it is this hyper-partisan, extreme dialogue that goes on.”
“There is a new sensitivity that I didn’t fully appreciate that some people have, and some people have a new sense of cultural boundaries that I didn’t appreciate enough,” Cuomo said.
It seems the disgraced governor is following in his brother’s footsteps. Chris Cuomo, who was a leading anchor at CNN during the Cuomo sex scandal, also started a new podcast after being fired from the network.
Billionaire Elon Musk has no plan to back away from politics anytime soon.
SpaceX owner Elon Musk vowed to keep up his political activities in a social media post on Tuesday, saying he would take an active role in the GOP primaries ahead of the 2026 midterms.
“Normally, PACs go somewhat dormant after a big election,” Musk wrote on X, adding:
@America PAC is going to do the opposite and keep grinding, increasing Republican registrations in key districts around the country, in preparation for special elections and the midterms.
“And, of course, play a significant role in primaries,” Musk added.
Normally, PACs go somewhat dormant after a big election.@America PAC is going to do the opposite and keep grinding, increasing Republican registrations in key districts around the country, in preparation for special elections and the midterms.
Musk’s PAC reportedly spent some $200 million to help get Trump reelected in recent months. Musk himself, the world’s richest man, donated some $120 million to aid in Trump’s reelection bid – making him Trump’s second biggest backer after billionaire Timothy Mellon.
Musk’s pledge to stay active in GOP politics is the first sign his interest in the party extends far beyond Trump as activism.
A reclusive billionaire from a storied American family with a legacy dating back to the Gilded Age has made one of the largest political contributions in the history of American politics.
Mr. Mellon is now the first donor to give $100 million in disclosed federal contributions in this year’s election. He was already the single largest contributor to super PACs supporting both Mr. Trump and Robert F. Kennedy Jr., who is running as an independent. Mr. Mellon has previously given $25 million to both.
Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons
Democrats have sought to portray Mr. Kennedy as a spoiler supported by Republicans, in part by emphasizing Mr. Mellon’s dual contributions and seemingly split loyalties. The pro-Kennedy super PAC has distributed quotations from the hard-to-reach Mr. Mellon, and for a blurb that appears on the cover of Mr. Mellon’s upcoming book, Mr. Kennedy called the billionaire a “maverick entrepreneur.”
It is not clear what Mr. Mellon’s mega-donation means for his support of Mr. Kennedy going forward. He has so far toggled between giving to support both candidates. His most recent donation to Mr. Kennedy’s super PAC was a $5 million contribution in April.
But Mr. Mellon’s $50 million gift will significantly help pro-Trump forces narrow the financial advantage that President Biden and his allies have enjoyed so far. Miriam Adelson, the casino billionaire and widow of Sheldon G. Adelson, who died in 2021, has also made plans to fund a pro-Trump super PAC with at least as much money as the $90 million that her family gave in the 2020 campaign, although much of the cash has yet to arrive.
Critics argue that the case is politically motivated and based on an overly broad interpretation of campaign finance laws. They add that such payments are common among public figures seeking to avoid public scrutiny.
The Mellon family‘s wealth started when an Irish immigrant named Thomas Mellon founded T. Mellon & Sons’ Bank in Pittsburgh in 1869. His sons, Andrew W. Mellon and Richard B. Mellon, later grew the bank into a strong financial institution. This bank eventually became Mellon Financial Corporation, one of the largest banking institutions in the United States.
During the late 19th and early 20th centuries, Andrew Mellon played a crucial role in financing and supporting key industries such as aluminum, oil, and steel, contributing to the growth of major corporations, such as Gulf Oil, and Union Steel. As secretary of the Treasury from 1921 to 1932, his influence shaped the economic policies of the 1920s, known as the Mellon Plan, which contributed to the economic boom of the decade.
National Photo Company Collection, Public domain, via Wikimedia Commons
In 2007, Mellon Financial Corporation merged with The Bank of New York to form BNY Mellon, one of the world’s largest asset management and securities services companies, preserving their 150-year legacy in banking and finance.
Article Published With The Permission of American Liberty News
Former President of the United States Donald Trump speaking with attendees at the 2022 Student Action Summit at the Tampa Convention Center in Tampa, Florida. [Photo Credit: Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons]
On a bustling Thursday night in San Francisco, former President Donald Trump marked another impressive milestone in his 2024 presidential campaign. The presumptive Republican nominee and front-runner, according to the polls, celebrated a monumental $12 million fundraising haul. The fundraising event, hosted by prominent Silicon Valley figures, David Sacks and Chamath Palihapitiya, highlighted the undeniable shift in the tech industry, an arena traditionally dominated by liberal ideologies.
“These are brilliant guys – AI guys – these are the guys that are doing all the things you read about,” Trump gushed to Fox News Digital. These are just a brilliant group of people. And they can’t relate to Biden because he is a stupid person – and I have a high IQ.”
Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons
“They don’t like dealing with an IQ that’s like, you know, 1/3 of theirs, because it is a difficult thing when someone has an IQ of 180, it is difficult to deal with a man with an IQ of 70 – or maybe lower,” Trump added, attempting to goad the current president.
Sacks endorsed Trump hours before the high-dollar fundraiser at his multimillion-dollar home, located near the residence of Nancy and Paul Pelosi, symbolizing the growing willingness of certain tech industry leaders to publicly support Trump, a stance that previously rendered individuals persona non grata in Silicon Valley. (RELATED: San Francisco Sued Over Gender Scheme Targeting Minority Men)
Known for his business acumen and successful investments, including his status as an angel investor for Facebook, Uber, SpaceX, and Airbnb, Sachs’ support signals a broader acceptance of Trump’s candidacy within a traditionally GOP skeptical community.
Trump told Fox News Digital that Sacks’ “strong” endorsement “is a great testament to what I’ve accomplished.”
“David Sacks — the king of that world — David Sacks and the group that we were with are the most respected people in San Francisco from both a business and high tech standpoint,” Trump told Fox News Digital. “They love our country and they understand what’s happening into the future with technology better than any group, anywhere in the world.”
“One of the primary reasons for the endorsement was the four years that we had in office, which was the best four years ever for high tech, which will play an increasingly important role in the future of our country, especially as it relates to AI and all of the other new and brilliant technologies coming right at this moment,” Trump said. “It is a very exciting time and it is a great honor to have the most brilliant minds supporting, by far, the most brilliant leader.”
Why I’m Backing President Trump
As many press accounts have reported, I’m hosting a fundraising event for President Donald J. Trump at my home in San Francisco this evening.
Over the last couple of years, I have hosted events for presidential candidates Ron DeSantis, Vivek…
“My reasons rest on four main issues that I think are vital to American prosperity, security and stability — issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back,” Sacks said Thursday.
Other guests at Sacks’ Pacific Heights fundraiser included the Winklevoss twins, who successfully sued Facebook CEO Mark Zuckerberg for allegedly stealing their idea, which later became Facebook.
JD Lasica from Pleasanton, CA, US, CC BY 2.0 , via Wikimedia Commons
“He wasn’t the guy I see on TV,” one source told the New York Post. “He was very thoughtful and self-deprecating.” More than 100 guest attended the San Francisco soirée, paying as much as $300,000 a head.
Historically, Silicon Valley has been a bastion of liberal politics, with many tech leaders supporting Democratic candidates and policies. This alignment was driven by shared values around social issues and environmental sustainability. (RELATED: Google Shuts Down Its AI Chatbot ‘Gemini’ For Being Woke And Racist)
However, the dynamics may be changing. The industry’s rapid growth has brought increased scrutiny and regulatory pressures from Democratic lawmakers. Concerns over antitrust actions, data privacy regulations and labor practices have strained relationships between tech giants and the Democratic Party.
In contrast, Trump’s deregulatory stance, pro-business policies and tax reforms align with the interests of a growing number of Silicon Valley insiders.
The White House from Washington, DC, Public domain, via Wikimedia Commons
Donald Trump’s last Republican rival has landed a fresh new job.
Nikki Haley the former two-term South Carolina governor who served as ambassador to the United Nations in the Trump administration, is joining the Washington, D.C.-based Hudson Institute.
“Nikki is a proven, effective leader on both foreign and domestic policy,” Hudson President and CEO John P. Walters said in a statement Monday. “In an era of worldwide political upheaval, she has remained a steadfast defender of freedom and an effective advocate for American security and prosperity. We are honored to have her join the Hudson team.”
Haley, who received the Hudson Institute’s global leadership award in 2018 during her tenure as U.N. ambassador, will serve as the institute’s Walter P. Stern Chair. According to the Hudson Institute, the position was created four years ago to commemorate a former chair “who was instrumental in making Hudson one of Washington’s most respected research organizations.”
The institute emphasized that “it is fitting that Nikki has taken on this title” because “she is a courageous and insightful policymaker.”
Haley announced that she was suspending her White House campaign on March 6, the day Trump swept 14 of 15 GOP nominating contests on Super Tuesday.
To date, Haley has declined to endorse Trump.
“It is now up to Donald Trump to earn the votes of those in our party and beyond it who did not support him. And I hope he does that,” Haley said last month, as she pointed to those who supported her during her White House run.
“This is now his time for choosing,” she emphasized.
Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News.
Trump, the presumptive Republican presidential nominee, established the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his removal from Twitter after the events of Jan. 6, 2021, with the new website “Truth Social” being unveiled in 2022. On Monday, TMTG completed a merging process with DWAC, a special-purpose acquisition corporation, that would allow the company to be publicly traded on the National Association of Securities Dealers Automated Quotations stock exchange, also known as the “Nasdaq” exchange, with Trump’s 58% stake in the company being valued at $3.9 billion, according to Bloomberg News.
The share price of DWAC increased by 35.22% to close at $49.95 on Monday when the closing of the deal was announced, with the new company retaining the TMTG name and changing its stock ticker to Trump’s initials, “DJT.” The process will increase Trump’s net worth to $6.4 billion, according to Bloomberg.
Trump’s net worth, which until recently has primarily comprised real property of The Trump Organization, has been subject to varying estimates. The Australian Financial Review estimated his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion as of Monday — making him the 1,265th richest person in the world — with its highest-ever estimate for his net worth being $4.5 billion in 2016.
Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the largest number of followers. He often announces major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.
Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading
