Trump social media firm sues ex-co-founder, claims he gambled away company cash in wild slot machine spree. X Strategies, the Florida social media firm that powers some of President Donald Trump's most-followed social media accounts, is taking its former co-founder Derek Utley to federal court, accusing him of quietly draining at least $5 million from the company to fund a jet-set lifestyle and a staggering gambling habit, according to POLITICO.The company filed a 34-page complaint September 18 in U.S. District Court in West Palm Beach against Utley and his former girlfriend Anna Weisheimer.Co-founded by Trump adviser Alex Bruesewitz, X Strategies runs the Trump War Room and Team Trump accounts on X and helps manage the president's TikTok presence.Utley, X Strategies' former chairman and chief financial officer, allegedly had exclusive control over the company's bank accounts after he and Trump adviser Alex Bruesewitz launched the firm in 2017. Starting in 2021, the complaint alleges, Utley began funneling company money into his personal life, splurging on sports cars, designer clothing, jewelry, and luxury condos.In 2025 alone, Utley spent a whopping 200 days at the Seminole Hard Rock Hotel & Casino in Hollywood, Florida, dropping $29 million in company funds into slot machines, X Strategies alleges. Utley allegedly won back more than $26 million, but kept the winnings for himself while the company was left holding a $3 million loss. The filing further alleges Utley pulled cash from casino ATMs and told banks the withdrawals were for client entertainment.The alleged shortfall came to light after the firm brought on Michael Seifert, the former CEO of PublicSq, a marketplace that connects conservative consumers with small businesses, as X Strategies' president. Utley departed from the social media company in April and gave up his 50% ownership stake.The lawsuit brings civil RICO, theft, fraud and breach of fiduciary duty claims, and seeks damages that could be tripled."I dispute these allegations in the complaint and will address them through the legal process," Utley told POLITICO. "I have no further comment at this time."Weisheimer, a social media influencer and Pilates instructor, also denied any wrongdoing."I have absolutely nothing to do with the drama between Alex and Derek. I briefly dated Derek, during which time I asked him to purchase a Pilates studio for me. He ultimately decided not to, and our relationship ended shortly thereafter," Weisheimer told The Independent. "I have requested that I be removed from this lawsuit immediately, as I have no involvement in the issues between these two gentlemen." Source link Post Views: 17

PublicSquare expands embedded payments distribution with LendSuite Integration. Aug 21, 2026 8:30 AM Eastern Daylight Time PublicSquare Expands Embedded Payments Distribution with LendSuite Software Integration Integration makes PSQ Payments available to lenders operating on Infinity Software, Tekambi, and EPIC Loan Systems BOZEMAN, Mont.-(BUSINESS WIRE)-PSQ Holdings, Inc. (NYSE: PSQH) ("PublicSquare" or the "Company"), a payments and financial infrastructure company, today announced that PSQ Payments is integrating/partnering as a payments processing option for the nearly 150 lenders within LendSuite Software's ecosystem. Any lender operating on LendSuite's platforms, which include Infinity Software, Tekambi, and EPIC Loan Systems, will be able to select PSQ Payments for card, ACH, RTP, and FedNow, and Push to Card processing directly within the loan management systems they already use to run their businesses. As one of several processors integrated with LendSuite's platforms, PSQ Payments will now be listed in LendSuite's Premier Marketplace for Lenders to select their own processor. "Consumer lenders deserve genuine choices when selecting the processing partners that power their daily operations. Far too often, these lenders lose critical processing relationships for reasons unrelated to their compliance records or loss rates. We designed our platform specifically to welcome and support businesses that other processors label as exceptions or find challenging to underwrite," stated Dusty Wunderlich, Chairman and Chief Executive Officer of PublicSquare. "By enabling an integration once, we instantly gain exposure to every lender across all LendSuite platforms, a far more efficient approach for our team than selling to merchants individually. Lenders using any LendSuite system can activate our services directly within their existing setup without negotiating separate gateway agreements or switching servicing software. We are actively seeking additional strategic partnerships like this." Distribution through an installed base Historically, direct sales have driven merchant acquisition for PSQ Payments. This integration introduces an alternative distribution channel by reaching merchants directly through the software systems they already rely on. Through the LendSuite partnership, PSQ Payments becomes accessible across LendSuite's merchant network without requiring a new gateway, servicing software adjustments, or an independent deployment process. Additionally, this places PSQ Payments directly within the day-to-day management system where lenders evaluate and choose their processing options. "Lenders on our platform require reliable, flexible processing options that hold up under the daily operational demands of servicing a loan portfolio," stated Michael Morales, Director of Business Development at LendSuite Software. "Integrating PSQ Payments was a logical step to deliver seamless choices to our merchants. By establishing this native integration, evaluating payment solutions becomes a straightforward business decision around pricing and services rather than a complex, drawn-out technical implementation." Underwriting consumer lenders Consumer lenders are frequently turned away or terminated by payment processors. Rather than reflecting a lender's specific compliance history or loss record, these decisions are usually driven by broad industry classifications. PSQ Payments specializes in underwriting regulated sectors as a core strength. Furthermore, because the Company runs the Credova consumer financing platform, it manages its own operations under the exact same regulatory framework as the clients it supports. Availability The integration will go live in September 2026. About PSQ Payments PSQ Payments is the payments platform of PSQ Holdings, Inc., offering credit card, debit card, and ACH processing alongside Credova consumer financing. PSQ Payments is engineered for merchants operating in highly regulated industries, with underwriting, risk management, and compliance functions built to support lawful commerce rather than restrict it. About PSQ Holdings, Inc. PSQ Holdings (NYSE: PSQH) is a payments and financial infrastructure company. Hurricane Payments build and operate payments and consumer financing infrastructure in highly regulated environments for industries underserved by traditional financial institutions, including businesses, campaigns, and nonprofits that depend on reliable, compliant solutions. For more information, visit publicsquare.com. About LendSuite Software LendSuite Software is a lending technology company serving lenders through an integrated ecosystem of independent business units including Infinity Software, Tekambi, and EPIC Loan Systems, representing more than 40 years of combined industry experience across loan origination, servicing, and lead management. LendSuite is headquartered in Pembroke Pines, Florida. For more information, visit lendsuitesoftware.com.

PSQ Holdings has closed a private placement raising approximately $1.3 million in gross proceeds. The payments and financial infrastructure company issued 361,388 shares of Class A common stock at $3.60 per share, representing a premium to the previous closing price of $3.58. Every eligible member of the company's board of directors participated in the financing, investing personal capital. The transaction included no warrants or derivative securities, with shares issued as common stock only. Chairman and CEO Dusty Wunderlich described this as the first capital raised since the business turned operationally profitable, stating management aims to deliver cash flow positivity in 2027. Lead Independent Director Blake Masters emphasised the board's confidence in management's guidance and the company's trajectory, noting it recently achieved its first quarter of positive non-GAAP operating income.