"Truth Social," the media venture launched by the notorious Trump family, is being investigated for possible money laundering violations. The company received $8 million in loans from two Caribbean entities suspected to be linked to an ally of Russian President Vladimir Putin. The loans were processed through Paxum Bank, which has a history of catering to the pornography and sex worker industries, making it a prime suspect for financial crimes.
The source of the money raised eyebrows with Trump Media's then-chief financial officer, Phillip Juhan, who considered returning the funds in the spring of 2022.
However, the cash was never returned, as it would have drained the reserves of the company, which at the time had around $12 million in cash reserves. It appears that Trump Junior knew about it and gave the green light for the transaction to go ahead when questioned by the company's lawyers.
"Just want to keep you in the loop – no guaranty that these will get signed and funded, but we remain hopeful," John Haley, outside counsel for Trump Media said in a 24 December 2021 email.
"Thanks john much appreciated. d," replied Junior.