10-24-2021, 11:58 AM
Truth Social could provide Trump with infusion of cash -- but critics are concerned about its content
![[Image: donald-trump_hpMain_20211020-202320_16x9_992.jpg]](https://s.abcnews.com/images/Politics/donald-trump_hpMain_20211020-202320_16x9_992.jpg)
Truth Social, the social media app announced Wednesday by former President Donald Trump, could provide the former president with a substantial infusion of cash -- but critics also warn that it could create a new platform for the spread of misinformation.
The app will be the first product of Trump's new company, Trump Media and Technology Group, which is merging with the Nasdaq-listed Digital World Acquisition Group to form a publicly traded company, the former president announced.
The announcement comes at a time of turmoil for Trump's family business, with multiple branches of the Trump Organization currently under criminal investigation, sources previously told ABC News. On Wednesday, it was reported that the Westchester, New York, district attorney's office has had an ongoing criminal investigation into the Trump Organization's Westchester golf course; in July, the Manhattan DA charged the Trump Organization and its longtime CFO, Allen Weisselberg, with tax fraud; and New York Attorney General Letitia James has been conducting a parallel probe into Trump's business dealings.
Trump has denied all wrongdoing in the investigations, calling James' investigation and the investigation into his Westchester golf course a "witch hunt."
The app will be the first product of Trump's new company, Trump Media and Technology Group, which is merging with the Nasdaq-listed Digital World Acquisition Group to form a publicly traded company, the former president announced.
The announcement comes at a time of turmoil for Trump's family business, with multiple branches of the Trump Organization currently under criminal investigation, sources previously told ABC News. On Wednesday, it was reported that the Westchester, New York, district attorney's office has had an ongoing criminal investigation into the Trump Organization's Westchester golf course; in July, the Manhattan DA charged the Trump Organization and its longtime CFO, Allen Weisselberg, with tax fraud; and New York Attorney General Letitia James has been conducting a parallel probe into Trump's business dealings.
Trump has denied all wrongdoing in the investigations, calling James' investigation and the investigation into his Westchester golf course a "witch hunt."
- More -