Firm behind some of Trump’s top social media accounts sues co-founder for blowing $3m on slot machines
A company that runs some of President Donald Trump's social media accounts is suing its co-founder for allegedly embezzling at least $5 million — including at least $3 million he's accused of blowing on slot machines.
X Strategies alleges that former chair and chief financial officer Derek Utley stole millions of dollars to fund an increasingly lavish lifestyle and fuel a gambling addiction, according to a lawsuit first reported Tuesday by Politico.
“In just 2025 alone, Utley gambled $29,000,000 of the Company’s money at slots at a single casino, ultimately losing $3,000,000,” according to the lawsuit filed Friday in U.S. District Court in West Palm Beach, Florida.
Utley also allegedly bought luxury sports cars and designer clothes, rented “opulent condominiums,” took extravagant vacations and attended events with an entourage, all “funded by money he embezzled from X Strategies,” the lawsuit alleges.
X Strategies maintains the Trump War Room and Team Trump accounts on X, and also helps manage Trump's presence on TikTok, according to Politico.
Utley didn't immediately respond to an inquiry The Independent sent to Washington, D.C.-based Tower Strategies, where he's listed as a partner.
But he told Politico, “I dispute these allegations in the complaint and will address them through the legal process. I have no further comment at this time.”
In an email to The Independent, X Strategies CEO Alex Bruesewitz declined to comment. The White House didn't immediately respond to an inquiry.
Utley and Bruesewitz founded West Palm Beach, Florida-based X Strategies in 2017 when they were 32 and 19, respectively, according to court papers.
Utley's roles gave him “exclusive access” to the company's bank accounts and financial records, and at some point he began “concocting a scheme to embezzle money from X Strategies,” the lawsuit alleges.
The alleged thefts were uncovered earlier this year after the company hired Michael Seifert as its president, and he found X Strategies "should have had millions of dollars more in cash than it actually did," according to the lawsuit.
Utley "voluntarily resigned" his executive positions on April 3 and gave up his 50 percent interest in the company, but was allowed to keep working there until he was fired for allegedly falsifying medical records to seek a six-month paid leave to recover from a purported car crash, court papers allege.
The lawsuit also lists Utley's former girlfriend, Anna Weisheimer, as a co-defendant who allegedly helped him “launder funds embezzled from X Strategies.”
In response to an inquiry from The Independent, Weisheimer — a social media model and Pilates instructor who's also known as Anna DiCenzo — 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,” she said in an email. “I have requested that I be removed from this lawsuit immediately, as I have no involvement in the issues between these two gentlemen.”
