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Investment Firms Allege Hacking and Coup Attempt by Trump Media Board Member

Investment firms, led by the former CEO of the SPAC that merged with Donald Trump’s media company, claim that their files were hacked and stolen by a current member of the media company’s board of directors. The firms, Benessere Investment Group and ARC Global Investments II, filed a federal civil lawsuit in South Florida last month accusing board member Eric Swider of plotting a coup in early 2023 to replace Patrick Orlando as CEO of the special purpose acquisition company, Digital World Acquisition Corp.

The lawsuit alleges that Swider and others “stole access” to the firms’ computer systems as part of the attempted ouster of Orlando, using the stolen information to attack him and to bolster their own holdings. Seeking damages and an injunction to prevent further hacking, the firms aim to stop the use of the stolen information.

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Furthermore, Orlando was ousted from Digital World in March 2023 and replaced by Swider after the alleged coup. The lawsuit is just one of many legal disputes that have plagued Trump Media’s journey to becoming a public company, including fraud charges and mismanagement allegations. Critics have labeled the company a meme stock and a scam, pointing to its significant net loss in 2023.

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The lawsuit details how Swider allegedly misled DWAC’s directors and business partners with false representations and offered incentives to collaborators to support his coup. He aimed to increase his compensation as CEO of DWAC and take control of ARC II, which held a sizable stake in the company prior to the merger. Swider allegedly used Orlando’s former assistant, Alexander Cano, to access important information stored in an account owned by Benessere, leading to the dissemination of false claims about Orlando to ARC II’s members.

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As these legal battles continue to unfold, the use of AI legalese decoder can play a crucial role in ensuring a fair and just resolution to the disputes surrounding Trump Media and its stakeholders. By leveraging advanced technology to navigate intricate legal matters, this tool can help legal professionals navigate complex cases with confidence and clarity.

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