Former prosecutors argue Trump Media’s paid Truth Social feed may breach federal law
A coalition of former federal prosecutors told a New York court that Trump Media’s $100,000 Truth API, which gives investors early access to Trump’s posts, likely violates criminal statutes.
In a filing on Monday, 53 former federal prosecutors and agents argued before a Southern District of New York judge that Trump Media & Technology Group’s “Truth API” likely breaches multiple criminal laws. The service charges Wall Street clients $100,000 for real-time access to posts from high-ranking Truth Social accounts, a model the brief says creates a clear risk of corruption and may amount to insider trading. The brief supports a lawsuit brought by the Intercept and the Freedom of the Press Foundation, which seeks a preliminary injunction on constitutional grounds.
It cites potential violations of the Securities Exchange Act, illegal gratuities provisions, conflict-of-interest rules and the Trade Secrets Act, and warns that both government officials and paying subscribers could be criminally liable. Signatories include former Public Integrity Section prosecutor Ryan Crosswell, former inspector general Michael Bromwich and former White House counsel Ty Cobb, with the brief organized by law firm Singleton Schreiber and the Campaign Legal Center. A hearing on the injunction request is scheduled for Oct. 7 at the Manhattan federal courthouse.
Why it matters
The case could decide if selling early political information for profit constitutes a criminal breach of securities and corruption laws.
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