Aaron Katersky - ABC News - October 17, 2022 - KRDO’s Morning News

A whistleblower has come forward and alleged that former President Trump's new media company violated securities laws, and that the former president asked executives to give up some shares of the company to his wife Melania. The complaint alleges Truth Social tried to raise money based on fraudulent misrepresentations, and that Trump himself tried to get one of the founders to relinquish his shares to former First Lady Melania Trump. The Securities and Exchange Commission is investigating, as are federal prosecutors in the Southern District of New York, according to sources familiar with the matter. In response to the original story from The Washington Post, which broke the news, the Trump media outfit called the reporting “rife with knowingly false and defamatory statements and other concocted psychodramas.” It’s just the latest in a growing list of legal troubles for the former president. Trump is also under investigation over the handling of classified material seized from his Florida home. And in New York, Attorney General Letitia James says Trump’s business may still be engaging in “fraudulent practices,” and trying to divert assets to avoid liability.