It should be clear by now that Donald Trump doesn’t care if he breaks laws, considering all the legal problems he’s facing now — because he’s broken plenty of laws. But now that he’s been bragging about how well his Truth Social platform is doing, saying that there is over $200 million in cash and no debt, it’s very clear that the exact opposite is happening. The platform’s stock has plummeted steeply and financial disclosures display all sorts of possible fiscal problems, Newsweek reports.

Although one expert notes that Trump’s remarks surrounding his finances are “probably correct,” they have ignited scrutiny over possible securities fraud, throwing more forks in the road for the former president and his media business venture.

Truth Social’s stocks have dropped sharply — by nearly 30 percent after it spiked following a merger with blank-check company Digital Acquisition World Corp two weeks ago, and some heavy-duty financial ruptures detailed in SEC filings, some experts say Trump’s declarations may have misled investors and could have violated securities law.

The ex-president trumpeted his social media platform’s financial stability Thursday in a post on Truth Social, saying that the company held over $200 million in cash and zero debt,” and claimed his follower count is “growing fast,” showing that the company’s user base may be growing despite the issues raised by its financial disclosures.

But according to Michael Klausner, Professor of Law at Stanford Law School, that post could be a violation of the U.S. Securities and Exchange Commission (SEC), which governs the stock market.

By portraying the financial windfall as inherent to Truth Social, rather than as a lifeline from DWAC, paired with the fact that Trump said his follower count is growing quickly, the former president has painted a misleading picture of the company standing on its own two feet and this could influence investor perceptions under false pretenses, Klausner told News on Monday.

“A false statement of ‘material’ information is securities fraud,” Klausner, warning  this could be a case of “pumping.”

“Pumping is a term used to refer to such a statement, but not necessarily by a company insider, as in Trump’s case,” he added.

Newsweek notes this could be considered a violation of the Securities Exchange Act of 1934, a measure that governs the statements made by company owners that could affect investor decisions.

Klausner also said that the term that Trump used, “growing fast” could be ambiguous and misleading unless it’s supported by factual growth metrics, something that contrasts with the company’s documented financial challenges.

“If it is growing slowly and Trump calls it ‘fast’ there is some room for the SEC or a court to decide,” Klausner said. “It would be a judgment call.”

Trump posted, “All of the competitors to TRUTH SOCIAL, especially those in the Radical Left Democrats Party who are failing at every level, like to use their vaunted “disinformation machine” to try and convince people, and it is not easy to do, that TRUTH is not such a big deal and doesn’t “get the word out” as well as various others, which they know to be false. I THINK TRUTH IS AMAZING! First of all, it is very solid, having over $200,000,000 in CASH and ZERO DEBT. More importantly, it is the primary way I get the word out and, for better or worse, people want to hear what I have to say, perhaps, according to experts, more than anyone else in the World. My TV ratings are by far the highest, and my Rallies are not equaled, even close, anywhere or by anyone. Look, I had hundreds of millions of followers on various platforms, and could have them back again, but was cancelled for largely political reasons. Those platforms all want me back…They need me back! On Truth I have 7,000,000 followers…”

Then he continued, “Very good for a startup, and growing fast. But when I put out a statement or message, it is SPREAD all over the place, fast and furious. EVERYBODY SEEMS TO GET WHATEVER I HAVE TO SAY, AND QUICKLY. At press conferences I will sometimes ask, “who is on TRUTH.” I have never had one reporter tell me they are not. They are all on TRUTH because the have to be. So don’t believe the FAKE NEWS. Until I came along and exposed them, they were respected and believed. Now they are the exact opposite. With the Russia, Russia, Russia HOAX. and all of the others, people get it. Look, using TRUTH, I became the Republican Nominee for President of the United States, and in record time! When I ENDORSE a politician on TRUTH, they almost ALWAYS WIN. If it didn’t work, or properly get the word out, I wouldn’t use it – But it does work, and work really well – And the fun is just getting started!!!”

This is reminiscent of the Trump Organization’s habit of inflating the worth of its assets, so this is really nothing new. I’m sure Trump knows what he’s doing here. He just continues to believe he’s infallible and will continue to do so until he finally does wind up in prison.

If he ever does. It’s just more of the same and no one can convince me any differently.

No one.