Trump campaign chief lends name to penny stock tied to felon
Source: AP
WASHINGTON (AP) — The political strategist and online guru who was named President Donald Trump’s 2020 campaign manager Tuesday has a close financial relationship with a penny-stock firm with a questionable history that includes longstanding ties to a convicted fraudster, according to an Associated Press investigation.
Brad Parscale, who played a key role in Trump’s 2016 election victory, signed a $10 million deal in August to sell his digital marketing company to CloudCommerce Inc. As part of the deal, Parscale currently serves as a member of California-based company’s management team.
The company touts itself as “a global provider of cloud-driven e-commerce and mobile commerce solutions.” But records reviewed by the AP raise questions about its current financial picture and its rocky past.
Cloud Commerce’s operations have not turned a profit in nearly a decade, the records indicate. The company’s most recent quarterly earnings showed it has spent more than $19 million in investor money since its creation nearly two decades ago and has only $107,000 in cash on hand.
Read more: https://apnews.com/5bdc810e38c94b119e2e0c2d206c4486/Trump-campaign-chief-lends-name-to-penny-stock-tied-to-felon
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