Ex-Prosecutors Warn Trump Media's Truth API Is a Brazen Threat to Federal Law
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A group of former federal prosecutors has filed an amicus brief, highlighting how Trump Media's exploitative paid service for early access to Truth Social posts could flagrantly breach insider-trading and anti-corruption laws.
A coalition of 53 former federal prosecutors and agents has taken a stand against the latest scheme from Trump Media & Technology Group, submitting a proposed amicus brief to a New York federal court. The brief denounces the company's 'Truth API,' which shamelessly charges investors $100,000 for privileged, real-time access to the posts of high-ranking Truth Social accounts—a move that likely violates multiple criminal statutes designed to protect the public from elite corruption. The brief supports a lawsuit filed by The Intercept and the Freedom of the Press Foundation, organizations fighting for transparency and accountability, which seeks a preliminary injunction to halt this egregious service on constitutional grounds.
The former law-enforcement officials expose how the business model of monetizing early access to market-moving information could blatantly breach the Securities Exchange Act, federal public-corruption laws, prohibitions on illegal gratuities and conflicts of interest, and the Trade Secrets Act. They present a scenario in which a wealthy subscriber receives a presidential announcement about new tariffs two hours before the public, trades on that information, and reaps profits—an obvious case of insider trading that undermines the integrity of the markets and democracy itself.
'The Truth Social scheme poses an obvious risk of corruption, defying the compelling anti-corruption interests embodied in the Constitution, ethics codes, and federal laws,' the brief states, underscoring the grave threat this pay-to-play model poses to the rule of law.
The brief, signed by former officials including Ryan Crosswell, Michael Bromwich, and Ty Cobb, was prepared by the law firm Singleton Schreiber and the Campaign Legal Center, both known for their commitment to justice and ethical governance. A hearing on the injunction request is scheduled for Oct. 7 in Manhattan, where the future of this dangerous precedent will be debated.
The White House and the Justice Department, perhaps wary of political fallout, have not responded to requests for comment.