The situation led Trump Media to take emergency loans, including from an entity called ES Family Trust, which opened an account with Paxum Bank, a small bank registered on the Caribbean island of Dominica that is best known for providing financial services to the porn industry.

Through leaked documents, the Guardian has learned that ES Family Trust operated like a shell company for a Russian-American businessman named Anton Postolnikov, who co-owns Paxum Bank and has been a subject of a years-long joint federal criminal investigation by the FBI and the Department of Homeland Security (DHS) into the Trump Media merger.

The existence of the trust has previously been reported by the Guardian and the Washington Post. However, who controlled the account, how the trust was connected to Paxum Bank, and how the money had been funneled through the trust to Trump Media was unknown.

  • pelespiritOPM
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    8 months ago

    Wikipedia is on it and added this little nugget:

    Trump Media & Technology Group was incorporated in February 2021.[1] On September 3, 2021, special-purpose acquisition company Digital World Acquisition Corp. (DWAC) commenced trading on the Nasdaq, after selling 25 million shares in its IPO.[13] DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that had been a target of SEC investigations for misrepresenting shell corporations

    https://en.wikipedia.org/wiki/Trump_Media_%26_Technology_Group