A new report by The Guardian has revealed that Truth Social’s parent company, Trump Media, was on the brink of collapse before being rescued by a Russian-American businessman amidst a swirling investigation into money laundering.
According to The Guardian, Trump Media desperately clung to financial life support from the ES Family Trust, controlled by none other than Anton Postolnikov, currently under investigation by the FBI and DHS regarding the Trump Media merger.
Documents obtained by the publication reveal ES Family Trust’s operations, including its banking activities with Paxum Bank, co-owned by Postolnikov. Concerns arise over potential misuse of the trust to facilitate transactions beyond Paxum’s capabilities.
Trump Media’s financial woes, exacerbated by regulatory scrutiny, prompted these emergency loans. Traditional lenders hesitated due to the fallout from the Capitol attack, compelling Trump Media to seek unconventional financing sources.
Postolnikov’s ties to Paxum Bank and his familial connections to Russian figures, including an associate of President Putin, add complexity to the situation.
Details of Postolnikov’s involvement in the Trump Media deal emerged amid a broader money laundering investigation, implicating other individuals linked to the merger.
Recent developments, including charges against Michael Shvartsman, a Postolnikov associate, suggest a widening probe into potential illicit financial activities surrounding Trump Media.
Federal authorities, including the FBI and DHS, have expanded their inquiry, collaborating with specialized task forces targeting money laundering and corruption involving US entities.