{"id":5288,"date":"2026-09-24T21:05:06","date_gmt":"2026-09-24T21:05:06","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=5288"},"modified":"2026-09-24T21:05:06","modified_gmt":"2026-09-24T21:05:06","slug":"its-so-corrosive-to-democracy-over-50-federal-prosecutors-speak-out-against-trumps-100000-a-month-insider-trading-scheme","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=5288","title":{"rendered":"\u2018It\u2019s so corrosive to democracy&#8217;: Over 50 federal prosecutors speak out against Trump&#8217;s $100,000 a month &#8216;insider trading&#8217; scheme"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/09\/GettyImages-2296586210-e1790280036950.jpg?w=2048\" \/><\/p>\n<p>Trump\u2019s plan to sell earlier access to his Truth Social posts for six-figures has hit a new wrinkle. More than 50 former federal prosecutors and law enforcement officials are asking a federal judge to block Donald Trump\u2019s $100,000 monthly service for early access to Truth Social posts, arguing that the arrangement could implicate several federal criminal statutes\u2014including giving traders a paid window into potentially market-moving government information.<\/p>\n<div>\n<p class=\"wp-block-paragraph\">The 53 former prosecutors and law enforcement agents filed an amicus brief Monday in the Southern District of New York in support of a preliminary injunction from The Intercept and the Freedom of the Press Foundation. The group includes former officials who worked on public corruption and public integrity matters at the Justice Department, FBI and U.S. attorneys\u2019 offices across 11 presidential administrations, both Republican and Democratic. Collectively, they say they have more than 880 years of government service.<\/p>\n<p class=\"wp-block-paragraph\">\u201cIt\u2019s so corrosive to democracy and to the public interest when we see the president financially benefitting from his official role,\u201d Renata O\u2019Donnell, senior legal counsel at the Campaign Legal Center which worked with Singleton Schreiber on the filing, told <em>Fortune<\/em>. \u201cWe\u2019re in an environment where we all want to be looking to the founders, right? They came over because they were in a situation where they saw that a government all in the hands of one person was not a success\u2014and they tried to insulate the president constitutionally and through a variety of other protections to make sure he could be independent.\u201d<\/p>\n<p class=\"wp-block-paragraph\">And the filing echoes the sentiment.<\/p>\n<p class=\"wp-block-paragraph\">\u201cThere is no legitimate, let alone significant, government interest in allowing public officials to profit personally by selling early access to official government announcements,\u201d the filing read. \u201cBut Truth Social\u2019s new scheme to charge up to $100,000 per month for users to get early access to messages from the President and other officials on the platform seeks to do precisely that.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Truth API is a data licensing product launched by Trump Media &amp; Technology Group, the parent company of Truth Social. The company had pitched the service to financial institutions and trading firms as a way to receive posts from prominent Truth Social accounts before they are broadly available. Reports estimate nearly a dozen firms have already signed up for the $100,000 a month service.<\/p>\n<p class=\"wp-block-paragraph\">\u201cI\u2019ll be blunt,\u201d Gian Luca Clementi, an economics professor at NYU Stern School of Business, previously told <em>Fortune<\/em> regarding Trump\u2019s subscription service. \u201cThis is insider trading by definition.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Trump Media and Technology Group did not immediately respond to a request for comment from <em>Fortune<\/em>.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Not a lawsuit\u2014yet<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">The group has not filed a lawsuit yet\u2014and it\u2019s not asserting that a crime has already been proven. Instead, the brief is disputing launching the service on grounds that it may be criminal. The brief states the Truth API subscription may violate criminal laws and the Securities Exchange Act, where violators may be liable for \u201cunlawful insider tips.\u201d<\/p>\n<p class=\"wp-block-paragraph\">And O\u2019Donnell emphasizes the liability of the subscribers, explaining that there can be \u201cimplications for the people who are paying for the premium subscription.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cThere is potential criminal liability for folks who have paid the $100,000,\u201d she said, \u201cand so that would extend to folks who have already paid the $100,000, and for future folks who might. And so, to shunt some of that future harm, it is in the public interest to shut this down sooner rather than later, as before more folks sign on.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The filing also outlines further ways Trump\u2019s service may be in violation of laws, including the Securities Exchange Act, Trade Secrets Act, illegal gratuity, conflict of interest, and illicit compensation for federal employment.<\/p>\n<p class=\"wp-block-paragraph\">\u201cBecause there are myriad ways that the Truth Social scheme could pose criminal liability for both the President and for subscribers, there is no legitimate or significant government interest that justifies the scheme,\u201d the filing read. \u201cPublic officers are trusted with serving the public and operating outside of corrosive special interests. But the Truth Social scheme flips this anti-corruption principle on its head.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The filing also argues the financial relationship between Trump and TMTG makes the arrangement different from an ordinary government communications system. Trump is a major beneficiary of TMTG, and the brief says he therefore benefits financially when the value of Truth Social goes up.<\/p>\n<p class=\"wp-block-paragraph\">The city of San Francisco separately sued TMTG as well, accusing the company of violating California\u2019s unfair competition law and federal insider trading rules. The city is also seeking to stop the service and impose penalties for violations.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Just one of many business ventures for Trump<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">Trump Media operates Truth Social alongside Truth+, its streaming service, and Truth.Fi, a financial services brand. Its SEC filings say Truth.Fi includes investment products and a digital-asset strategy, including a bitcoin treasury. TMTG also launched a group of exchange-traded funds tied to themes such as American defense, energy security and other investments.<\/p>\n<p class=\"wp-block-paragraph\">Trump\u2019s family has separately built a substantial cryptocurrency business through World Liberty Financial, a venture co-founded by Trump and his sons. Trump\u2019s 2025 financial disclosure showed more than $1.4 billion in income from crypto-related ventures, including almost $800 million associated with World Liberty Financial and $635 million from Trump memecoin sales.<\/p>\n<\/div>\n<p>#corrosive #democracy #federal #prosecutors #speak #Trumps #month #insider #trading #scheme<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump\u2019s plan to sell earlier a&hellip; <\/p>\n","protected":false},"author":1,"featured_media":5289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8360,4589,2522,273,419,998,3120,682,98,4788,299,1694,8361,3119,1785,277],"class_list":["post-5288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-corrosive","tag-democracy","tag-democratic-party","tag-donald-trump","tag-federal","tag-government","tag-insider","tag-lawsuit","tag-month","tag-prosecutors","tag-republican-party","tag-scheme","tag-speak","tag-subscriptions","tag-trading","tag-trumps"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018It\u2019s so corrosive to democracy&#039;: Over 50 federal prosecutors speak out against Trump&#039;s $100,000 a month &#039;insider trading&#039; 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