Trump Suckers Investors With New Billion Dollar Con
18:38 Share

This episode is brought to you by LifeLock. Not everyone is careful with your personal information, which might explain why there's a victim of identity theft every five seconds in the U.S. Fortunately, there's LifeLock. LifeLock monitors hundreds of millions of data points a second for threats to your identity. If your identity is stolen, a U.S.-based restoration specialist will fix it, guaranteed, or your money back. Save up to 40% your first year by visiting LifeLock.com slash podcast. Terms apply.

The NBA playoffs are here, and I'm getting my bets in on FanDuel. Talk to me, Chuck GPT. What do you know? All sorts of interesting stuff. Even Charles Barkley's greatest fear. Hey, nobody needs to know that. New customers bet $5 to get 200 in bonus bets if you win. FanDuel, America's number one sportsbook.

21 plus and present in Illinois. Must be first online real money wager. $5 deposit required. Bonus issued is non-withdrawable bonus pass that expires seven days after receipt. Restrictions apply. See full terms at fanduel.com slash sportsbook. Gambling problem? Call 1-800-GAMBLER.

Want to sharpen your aim, save money on ammo, and train like the pros, all from the comfort of your home? Meet Mantis X, the cutting-edge dry fire training system used by the Marine Corps, Army, and Special Forces to build precision and confidence. 94% of shooters report improved accuracy in just 20 minutes, and you could be next.

With Mantis X, you train with your own firearm, anytime, anywhere, without wasting a single round. In less than two weeks, the system pays for itself in ammo savings alone. As a proud gun owner, I believe in the Second Amendment.

but rights come with responsibility. That means refining your accuracy, mastering your skills, and staying prepared every time you train. Whether you're a new shooter or an experienced marksman, Mantis X helps you train smarter, shoot better, and defend what matters most. Get yours today at MantisX.com. That's MantisX.com. Here in America, work is in trouble. We've offshored our manufacturing, sent away good jobs,

and lost so much ability to make things. American Giant is a company that's pushing back against this tide. They make high-quality clothing, sweatshirts, jeans, dresses, jackets, and so much more right here in the USA. Visit American-Giant.com and get 20% off your first order when you use code STAPLE20 at checkout. That's 20% off your first order at American-Giant.com, promo code STAPLE20.

- Attention shoppers, we've got another crypto scandal, potential stock fraud.

by Donald J. Trump. This time, a new announcement, or at least some insider information reported to Financial Times that indicates that Donald Trump and his company, Truth Social, is about to launch a $3 billion capital raise through a secondary offering in which they will use the $3 billion to do what? To invest in infrastructure, to buy media projects,

to shore up perhaps truth or truth social. Nope.

to buy an asset, in this case, to buy crypto, to buy $3 billion worth of cryptocurrency. Listen, cryptocurrency has gone sky high, including Bitcoin, which has now reached $190,000 a coin ever since Donald Trump's been president. He's announced that he's going to use his presidency as a printing press to print money using cryptocurrency as the method. He's going to line his pockets and he's done it in a number of ways. This is a new way.

I've reported in the past about his using World Liberty Financial, WLF, a company-owned entity, along with Steve Witkoff, who runs around as our de facto Secretary of State, in order to

provide a liquidity source to create a market for the buy and the sell of cryptocurrency. It is through World Liberty Finance, for instance, that the government of Abu Dhabi is about to make an investment into that other stock fraudster by the Securities and Exchange Commission, Binance, of several billion dollars.

Using the World Liberty Financial Platform as its basis and using stablecoin, which is sort of tied to the US dollar as opposed to being a free floating cryptocurrency like Bitcoin.

to make the investment, all shepherded by a small inner circle, inner sanctum of interlocking people between Donald Trump and Donald Trump's family, the cabinet in Donald Trump's family. You know who's making a lot of money right now in cryptocurrency? Our Commerce Secretary's family. And our Commerce Secretary, Howard Lutnick, his family just announced this week alone they want to get in on the act too. So his son, Brandon Lutnick, formerly a disc jockey, who now

apparently runs the company pursuant to a trust, he just announced that they're going to get into a large crypto deal. They're going to create a special purpose acquisition company, a SPAC, publicly traded, blank check company, if you will, really not regulated that much. And they're going to try to raise a $3.6 billion to do what? To make an investment in some sort of vehicle? No, to buy Bitcoin. And

That's all the rage now. You don't actually have to have a going concern. You don't have to have an underlying company. You just buy Bitcoin and you ride out Bitcoin and that helps the enterprise value of your company. Now, where does the stock fraud come in?

with Donald Trump. I looked high and low in all the securities filings. I mentioned I'm on the Midas Touch Network and I'm Michael Popak. If I haven't, I'm sorry. It's been a very long week, as most of you know. But I am on the Midas Touch Network and Legal AF and I am Michael Popak. So,

I looked high and low in all the securities filings for Donald Trump's company. See, when you're a publicly traded company and you want to get access to public dollars and you want to have people invest in you, you got to be regulated by the Securities and Exchange Commission. Unfortunately, right now, the Securities and Exchange Commission is led by a puppet, a meat puppet, if you will, selected by Donald Trump, who's pro-crypto. The whole of the cabinet is pro-crypto.

They got rid of their cryptocurrency investigation unit at the Department of Justice. Why do you need that? You don't have a president that's going to go after it. You have a president, through various ways I'm going to outline again here, he's using cryptocurrency for the largest swindle in American presidential history.

This is a new one. So I looked high and low in the Securities and Exchange Commission filings, which you are required to do, whether it's the 8K or the 10Q or anything else. And you look to see what you're announced, who you are, what you've announced yourself to be and what business you're in, because people invest in a company when they sort of understand what your business model is.

Nowhere in there was there any reflection that Donald Trump would take his company into the cryptocurrency business and that they would use your dollars to buy a Bitcoin. Why don't you just use your own dollars to buy Bitcoin? What do you need Donald Trump to do it for you? Now, Trump turned over his $3 billion of, I think it's up to about $5 billion now, of

of shares in in djt and turn it over to a trust that's run by his son don jr you know fredo number one and so

So but if you think he's not having regular conversations with Don Jr., I got a bridge to sell you in Brooklyn. They're making this announcement that they're going to with a roadshow that they're about to try to raise three billion dollars worth of your and my money in a secondary offering before a huge Las Vegas crypto conference that starts this week.

That's going to be attended by, wait till you see the interlocking, overlapping people here, Don Jr., the crypto czar, David Sachs for the Trump administration, and J.D. Vance because he's got nothing better to do. You know, he kisses babies and he does ribbon cutting at car washes and he goes to Greenland, things like that.

So now he's going to go to this Las Vegas huge crypto conference because the Trump, I mean, I'd be okay if the Trump administration was in favor of crypto deregulation to help the average American, but not to help the Trump family. The only reason he's getting into hard and doubling down and tripling down on crypto and cryptocurrency and other types of digital assets is because his administration is promoting policies that benefit that industry.

So I looked high and low in all the securities filings. I don't see any mention that they're going to get into the crypto business. So I think already they're using dollars and new dollars that are inappropriate and would normally be investigated by the Securities and Exchange Commission. But who's going to investigate it when it's all under the thumb and control of Donald Trump?

Now, the new offering is not out yet. And when they got caught in the act of putting together the package and apparently increasing, they already know there's tremendous demand and more demand for crypto coming off that dinner just a couple of days ago in Virginia, in which they raised Donald Trump earned another $3 million in his pocket.

by meeting with 250 or so of the leading holders of his meme coin, which he makes the market for. He doesn't care about the stock price or the meme coin price. He just cares about the volume, the buy and the sell, because he makes a vig, a commission on the buy and the sell. So he shows up at this dinner. He says, okay, everybody, thank you very much. Glad you're here for dinner. Should have wore a tuxedo. Okay.

So he's got that going on. He's got the Vegas conference going on. We're between a rock and a hard place now. Four companies control over 80% of the U.S. meat industry, and China now controls the largest portion of U.S. pork. And wait till you hear this: over 80% of the antibiotics in the U.S. are fed to animals. So what can we do about this? Let me tell you about a company that's coming up swinging on behalf of American family farms and your family's food security: Moink.

The business is simple. Moink's meat comes from animals raised outdoors, where a pig is free to be a pig. Their farmers are given an honest day's pay for an honest day's work, and they deliver meat straight to your doorstep at prices you can actually afford. Support American Family Farms and join the Moink movement today at moinkbox.com slash legal AF right now and get free wings for life.

They're the best wings you'll ever taste for free, but for a limited time. Spelled M-O-I-N-K box.com slash legal AF. That's moinkbox.com slash legal AF. Now, Donald Trump has doubled down on meme so hard that he's got two meme coins that he's selling. He's the market maker for the meme coins, so he's getting the commission on all the volumes and the buy and the sell. He owns World Liberty Financial with his sons.

apparently not his daughters, which is making a lot of money in cryptocurrency and in stablecoin. In addition to that, he's got a stake through Don Jr. in an American-based crypto mining company because you have to make these digital assets. You've got to use server farms and data servers and use a tremendous amount of electricity and power and water. That's why it's an ecological disaster to do crypto.

And you do that, but you need to mine it. You need to have the software and the algorithms and the rigs in order to generate a Bitcoin off a mathematical formula, an algorithm.

That's how they're created. So he owns the mining. He owns the marketplace through World Liberty Finance. He owns meme coins themselves, which are owned primarily by foreign investors because he's doing influence peddling. And now, because his company and its business model is terrible for Truth Social, he's got nobody on the platform. And we've got more people on the Midas Touch Network than they have in their entirety of Truth Social. All the other things like, oh, we're going to do TV on Roku on demand. Yeah, that's not working.

So he said, well, I better just take not my money. I'm going to take your money because I'm going to sell new stock in a secondary offering, meaning new buy and sell. Yeah. And he's going to expand the value of the company. The enterprise value is remarkable for Truth Social that has no track record whatsoever. It's up to about $6 billion. So is Donald Trump's personal net worth. It's the highest that Fortune or Forbes has ever rated Donald Trump. That's just since the new year, since he was elected president.

He's doubled his or tripled his family fortune. Have you? Put it in comments. Have you? Look at your bank account. Is it triple what it was in January or is it half? Look at your retirement funds or assets if you have any. Have they tripled or have they halved? Look at your social security benefits, Medicare, Medicaid, disability. Have they tripled or are you barely holding on?

So it's with great disgust that I got to report these things, but I got to report these things. So this is the way that Donald Trump is perpetrating the greatest heist in plain sight in American history.

But we got to keep talking about it. We got to keep talking about the $3 billion he's about to raise of other people's money in order to invest in cryptocurrency, in order to feather his own nest. Now, when they reached out to the Trump media, Truth Social, DJT, for a comment, they just said, Financial Times has a bunch of dumb writers writing dumb stuff.

That's almost a direct quote. This is how they talk to the media. This is how they talk down to you and me. Earlier today on Memorial Day, Donald Trump talked about how Americans are scum. I mean, he said Democrats, but I mean, Democrats are Americans.

He was elected to represent the entirety of the American electorate. All 330 million plus people. Not the people that got him elected. Not the MAGA MAGA right. So he called other Americans and patriots scum. That's his word, not mine. We got to make him pay for that. We got to pay him back for that. We're biting our tongue and biding our time now. But the midterms in 2026 are a different story.

Remember the hundreds of millions up to over billions of dollars that Donald Trump is going to earn in his various different scams and schemes and three card money related to meme coins, related to Bitcoin, related to cryptocurrency, the platform, the mining, the sales. There's a reason I got to announce this in between the big. Why is the vice president president?

of the United States going to the crypto conference? Why is our commerce secretary, why is his companies heavily invested and about to do a parallel, and have done a parallel announcement of trying to raise several billion dollars from the market for its own cryptocurrency purchase? What do they know that we don't know? What do they have that we don't have? Money, finances, cryptocurrency, and access to it, and access to the guy that's setting the policy.

That's the problem. We'll continue to follow it all right here. You're on the Midas Touch Network. I got a couple of asks here. Hit the subscribe button for Midas Touch. Help them get to 5 million. Come over to Legal AF, the YouTube channel that I curate. I've got more than a dozen contributors there with me now to be one-stop shopping for all things law and politics. Come on over. We just added in the last month,

On one hand, we've got our in-house resident historians putting everything that Trump does, all his rogue and lawless actions, in context, historical context. We've got Sidney Blumenthal. We've got Sean Wilentz and their guests in a playlist we call Court of History.

we've also just added in the last 48 hours um asha ragappa and uh renato mariotti and they have a show they call it's complicated both former fbi agents

One is a prosecutor, former prosecutor, and a commercial litigator or white collar litigator. And the other, Asha, is on faculty or staff at Yale in national security issues. They come together with It's Complicated. Join us there. It's not complicated. It's easy. Legal AF, hit the subscribe button. We've got a beautiful sub stack.

that's just for you. You can nerd out on all things law and politics. We got the Supreme Court opinions there under SCOTUS AF. We've got the law filings that you want to know about and read yourself under FILINGS AF. We got my morning briefing under, wait for it, MORNINGS AF. You see the pattern here? The only thing missing is you, all free. Come on over and hit the subscribe button. Until my next reporting, I'm Michael Popak.

Can't get your fill of Legal AF? Me neither. That's why we formed the Legal AF Substack. Every time we mention something in a hot take, whether it's a court filing or a oral argument, come over to the Substack. You'll find the court filing and the oral argument there, including a daily roundup that I do call, wait for it, Morning AF. What else? All the other contributors from Legal AF are there as well.

We got some new reporting. We got interviews. We got ad-free versions of the podcast and hot takes. Where? Legal AF on Substack. Come over now to free subscribe.