Topline
Several companies have been fooling supporters of former President Donald Trump by selling commemorative items they claimed could be used as legal tender, according to NBC News, as some Trump supporters said they spent thousands of dollars on the items in an effort to support a future presidential campaign.
One person told NBC News they spent more than $2,000.
Key Facts
Colorado-based companies Patriots Dynasty, Patriots Future and USA Patriots have been advertising products with Trump’s likeness, including black $10,000 “Trump Bucks”—sold for $99.99—they said could be redeemed as legal tender at most banks, including JPMorgan Chase, Bank of America and Wells Fargo, though none responded to inquiries from NBC News.
The items—which include coins, checks and membership cards—are sold alongside “Trump Rebate Banking System” handbooks, which the companies claim are “official documents” that allow the items to be used.
Bank of America spokesperson Bill Halldin told NBC News there were reports of customers coming into the bank to exchange “Trump Bucks” for cash.
One Trump supporter claimed to spend $2,200 on the items before warning others on Twitter about the scam, while a woman from Alabama said she spent $1,500 on “Trump Bucks,” before a Bank of America employee told her she had been scammed.
Advertisements for the commemorative items are featured on Telegram and YouTube, including one video that warns “Trump Bucks are not legal tender” before suggesting the membership cards “are official cards issued by Donald Trump.”
The advertisements coincide with “reviews” of the novelty items, including an AI-generated promotional video on TikTok that features a fake Trump discussing the handbooks, and a review in “Alternative Science” that suggests former Fox News host Tucker Carlson spoke with a “representative from Trump’s office” about the handbook.
Crucial Quote
“Now I realize, well, that was stupid,” the Alabama woman said, adding she “bought them because I believed President Trump, because he knows all about finance, and he was going to help the real Trump patriots get rich.”
Tangent
The commemorative items are not the first with Trump’s likeness to be sold with the promise they could be used as legal tender. A 2022 New York Times report uncovered a similar scheme involving silver coins with Trump’s face, which were advertised by fake accounts on Telegram and TikTok. Trump’s son Eric threatened to sue the creators behind the cryptocurrency “TrumpCoin,” which launched in February 2016, according to the Independent. Eric later deleted a tweet calling for litigation, after TrumpCoin indicated it was not at all affiliated with the family or Trump’s presidential campaign. TrumpCoin—worth just over 2 cents—later suggested it could be the official currency for Trump’s social media site Truth Social.
Further Reading
‘Trump Bucks’ Promise Wealth For MAGA Loyalty. Some Lose Thousands. (NBC News)
Source: https://www.forbes.com/sites/tylerroush/2023/05/27/trump-supporters-scammed-by-novelty-items-trump-bucks-advertised-as-legal-tender/