The U.S. Securities and Exchange Commission has sued Miami businessman Patrick Orlando alleging the former CEO of Digital World Acquisition Corp. made false statements concealing his alleged plan for acquiring Trump Media & Technology Group Corp.
“As part of this scheme,” the SEC alleged in the complaint filed Wednesday, “Orlando signed Forms S-1 in the spring and summer of 2021 that falsely and misleadingly stated that DWAC had not selected any merger target or engaged in any substantive discussions with any merger target.”
