Trump Media investors charged in $22m insider trading case

Three investors in the special purpose acquisition company (SPAC) that took Trump Media public have been indicted for insider trading concerning the deal, making $22m in illegal trades. Michael Shvartsman, Gerald Shvartsman and Bruce Garelick were named in a federal indictment unsealed on Thursday (29 June) in Manhattan federal court. All three were charged with trading in securities of Digital World Acquisition Corporation (DWAC) based on non-public information about the company’s planned business combination with Trump Media & Technology Group — founded by former President Donald Trump — the parent company of social media platform Truth Social. All three were arrested this morning in Florida. More follows… Read More 3 charged in insider trading case related to taking ex-President Donald Trump's media company public White House reveals Biden uses CPAP machine for sleep apnea Jesse Watters confuses Ukraine and Iraq in attempt to mock Biden