‘It’s so corrosive to democracy’: Over 50 federal prosecutors speak out against Trump’s $100,000 a month ‘insider trading’ scheme
Singleton Schreiber was featured by Fortune in an article titled "'It's So Corrosive to Democracy': Over 50 Federal Prosecutors Speak Out Against Trump's $100,000 a Month 'Insider Trading' Scheme," published on September 24, 2026.
According to the article, Singleton Schreiber worked with the Campaign Legal Center on an amicus brief filed on behalf of 53 former federal prosecutors and law enforcement officials. The brief was filed in the Southern District of New York in support of a preliminary injunction sought by The Intercept and the Freedom of the Press Foundation. The group includes former officials who worked on public corruption and public integrity matters at the Justice Department, FBI, and U.S. attorneys' offices across 11 presidential administrations, both Republican and Democratic.
The brief asks the court to block Truth API, a data licensing product launched by Trump Media & Technology Group that offers financial institutions and trading firms early access to posts from prominent Truth Social accounts for up to $100,000 per month. The filing argues the service may implicate several federal laws, including the Securities Exchange Act, the Trade Secrets Act, illegal gratuity, conflict of interest, and illicit compensation for federal employment, with potential liability extending to subscribers. It also argues that because Trump is a major beneficiary of Trump Media & Technology Group, he benefits financially when the value of Truth Social increases.
