Trump leaves social media company during a federal investigation

Former President Donald Trump addresses the participants at the Road to Majority conference at Gaylord Opryland Resort & Convention Center Friday, June 17, 2022, in Nashville, Tenn.

Donald Trump removed himself from the board of his Sarasota-based social media company, records show, just weeks before the company was issued federal subpoenas by both the Securities and Exchange Commission and a grand jury in Manhattan.

Trump, the chairman of Trump Media and Technology Group, was one of six board members removed on June 8, state business records show.

Among the board members removed were Kashyap Patel, Trump’s former point man in the White House; Scott Glabe, a former assistant to Trump who was counsel for the media company; and Donald Trump, Jr.

The SEC served Trump Media and Technology Group with a subpoena on June 27, according to a regulatory filing.

Donald Trump Jr. at the Sarasota Fairgrounds Saturday night, July 3, 2021.

Four days later, on July 1, a grand jury in the Southern District of New York handed the company another federal subpoena, an action that typically means a potential criminal investigation is in progress.

The investigations appear to be related to a proposed merger between Trump’s media company and a blank-check company called Digital World Acquisitions Corp., according to a recent regulatory filing.

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