Donald Trump Left Social Media Company Before Federal Subpoenas; Trump Media Disputed Reports of Him Leaving

Former U.S. President Donald Trump has reportedly removed himself from the board of his social media company just weeks before the company was issued federal subpoenas, according to records.

Herald Tribune noted that the federal subpoenas were issued by both the Securities Exchange Commission and a grand jury in Manhattan.

The former president is the chairman of Trump Media and Technology Group. He was also one of six board members removed in June, as business records show.

Other board members removed were Kashyap Patel, Trump's former point man in the White House; Scott Glabe, a former assistant to Trump who was counsel for the media company; and Donald Trump, Jr.

It would appear that only CEO Devin Nunes remains on the Trump Media board based on the filings. Another listed executive chief financial officer is Phillip Juhan, according to an Axios report.

A spokesperson has not yet returned a request for clarification, and the company also has not commented on other listed departures.

Meanwhile, Truth Social posted a statement on its site on Thursday denying that Trump had left the board and calling the report fake news. Both the former president and Trump Jr. have posted on Truth Social within the past day.

Federal Subpoena's on Donald Trump's Social Media Company

On June 27, the SEC served Trump's social media company with a subpoena. A federal grand jury in Manhattan also issued a subpoena to the firm three days later. Grand jury subpoenas usually indicate a criminal investigation is ongoing, as reported by CNBC.

Trump was not the main focus of the subpoenas, according to the company. It appears to be related to a proposed merger between Trump Media and Digital World Acquisition Corp.

DWAC said a week before that the government investigations could delay or even prevent its merger with Trump's company.

Justice Department and the SEC are investigating the deal between DWAC and Trump Media. Merging with DWAC would grant Trump's firm to possibly access to dollars in public equities markets.

Shares of DWAC have fallen more than 50% this year so far.

Donald Trump's Truth Social

Trump went months without posting on Truth Social after Trump Media launched the Twitter-like platform in February.

Forbes noted that he has frequently used the platform over the past few weeks to criticize January 6 committee hearings.

The former president's office building can be found on the second floor on Cattlemen Road.

The company's name was reportedly not on the registry in the main lobby.

In addition, there were no references to the name at the office suite itself. There was also no receptionist, just a note to ring the doorbell for assistance.

Why Trump selected Sarasota as home to his social media company is not yet known. However, it is close proximately to Rumble, which is the video media platform company used by Truth Social.

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: Trump social media SPAC stock falls after the board was subpoenaed - from Yahoo Finance