{"id":89136,"date":"2024-04-10T22:13:37","date_gmt":"2024-04-10T22:13:37","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/04\/10\/two-former-execs-of-the-company-behind-the-truth-social-merger-are-caught-up-in-a-messy-hacking-lawsuit\/"},"modified":"2024-04-10T22:13:37","modified_gmt":"2024-04-10T22:13:37","slug":"two-former-execs-of-the-company-behind-the-truth-social-merger-are-caught-up-in-a-messy-hacking-lawsuit","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/04\/10\/two-former-execs-of-the-company-behind-the-truth-social-merger-are-caught-up-in-a-messy-hacking-lawsuit\/","title":{"rendered":"Two former execs of the company behind the Truth Social merger are caught up in a messy hacking lawsuit"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Two former executives of the firm that <a href=\"https:\/\/www.theverge.com\/2024\/3\/22\/24108811\/donald-trump-truth-social-dwac-spac-stock-merger\" target=\"_blank\" rel=\"noopener\">recently purchased Truth Social<\/a> are embroiled in a lawsuit related to the acquisition of Trump\u2019s social media company, <a href=\"https:\/\/www.wired.com\/story\/truth-social-hacking-lawsuit\/\" target=\"_blank\" rel=\"noopener\"><em>Wired <\/em>reports<\/a>. The former CEO of the Digital World Acquisition Corp. (DWAC) \u2014 the special purpose acquisition company that was created to purchase the Trump Media &amp; Technology Group \u2014 is suing his successor for allegedly hacking his\u00a0private accounts as part of a \u201ccoup d\u2019etat.\u201d\u00a0<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">The details are fairly messy. Patrick Orlando, the CEO of DWAC until March 2023, claims he was ousted by Eric Swider, a Trump Media board member who was appointed CEO immediately after Orlando was fired. (Swider served as CEO until March of this year.) Orlando filed the suit against Swider through the Benessere Investment Group, a company he controls, according to <em>Wired<\/em>\u2019s report.\u00a0<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">After Orlando was fired, Swider enlisted his former personal assistant, Alexander Cano, to help him improperly gain access to Orlando\u2019s accounts, the suit claims. Cano allegedly accessed an electronic storage account at Box.com tied to Benessere and ARC Global Investments II \u2014 a separate fund Orlando organized that provided financing for the deal to acquire Truth Social \u2014 that contained the login information for Orlando\u2019s Mailchimp and DocuSign accounts, as well as his confidential files. Cano passed the \u201cstolen information\u201d along to Swider, the suit claims.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Per the suit, Swider then used Orlando\u2019s Mailchimp account to email ARC II\u2019s investors about the Truth Social deal after Orlando\u2019s firing. \u201cMr. Orlando\u2019s leadership has guided our common interests with DWAC directly into the arms of the SEC, the DOJ, lengthy delays and costly investigations,\u201d Swider wrote, according to <em>Wired<\/em>. \u201cBy filing this lawsuit against DWAC, Mr. Orlando is destroying the value that may be realized upon consummation of the business combination by the Company and its members.\u201d Swider also invited investors onto a series of Zoom calls to \u201cunderstand our risk exposure based on leadership that continues to march us down a path of mis-information, hidden information, and self dealing.\u201d<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Orlando\u2019s tenure at DWAC was indeed a rocky one. The proposed Trump Media-DWAC merger was delayed for years, due in part to <a href=\"https:\/\/www.cnbc.com\/2022\/11\/22\/trump-media-deal-partner-dwac-shareholders-approve-merger-delay.html\" target=\"_blank\" rel=\"noopener\">probes<\/a> by both the Securities and Exchange Commission and federal criminal investigators. Those delays cost DWAC $100 million, <a href=\"https:\/\/www.cnbc.com\/2023\/03\/22\/trump-linked-digital-world-acquisition-corp-fires-ceo.html\" target=\"_blank\" rel=\"noopener\">CNBC reported<\/a> in 2023.\u00a0<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.theverge.com\/2024\/4\/10\/24126237\/truth-social-digital-world-acquisition-corp-hacking-lawsuit-patrick-orlando-eric-swider-trump-media\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two former executives of the firm that recently purchased Truth Social are embroiled in a lawsuit related to the acquisition of Trump\u2019s social media company, Wired reports. The former CEO of the Digital World Acquisition Corp. (DWAC) \u2014 the special purpose acquisition company that was created to purchase the Trump Media &amp; Technology Group \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":89137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-89136","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/89136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=89136"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/89136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/89137"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=89136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=89136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=89136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}