Overview
- Attorney General James Uthmeier directed statewide prosecutors to investigate JPMorgan and ordered the bank to preserve all relevant records through a litigation hold.
- The letter cites a March 28, 2023 DOJ subpoena for “any and all records” of Trump Media & Technology Group, including materials from before the company existed.
- According to the attorney general, JPMorgan questioned Trump Media about older transactions and then notified the company it would close its accounts right after a March 2024 merger.
- JPMorgan recently told shareholders it is responding to requests from government authorities and other external parties about its policies and services, and a spokesperson said the bank follows the law on subpoenas and does not discriminate in account decisions.
- Trump Media CEO Devin Nunes claims the company was debanked at a critical moment as it went public, and the attorney general notes Truth Social launched in 2022, highlighting questions about its relevance to a January 6–related probe.