US EditionInvestor in company that took Trump Media public pleads guilty to insider trading
- The Shvartsmans were found guilty of insider trading related to a merger plan involving Trump Media.
- The brothers are facing sentencing in July, with Michael potentially receiving 41 to 51 months in prison, and Gerald facing 33 to 41 months.
- Trump Media's parent company revealed a $58 million loss, while being embroiled in legal battles with co-founders in Delaware and Florida.
82 Articles
82 Articles
There are three men on trial in Florida. They have admitted to using their insider knowledge of the IPO of Donald Trump's media companies for illegal stock transactions.
Trump Media case The arrest of the Shvartsman brothers in June revealed their involvement in illegal transactions, taking advantage of confidential information about a secret acquisition attempt by a company of Trump Media & Technology Group, the parent company behind the controversial Truth Social social network. "By exploring uncovered details of the merger between DWAC and Trump Media, the Shvartsman brothers participated in profitable but il…
Two Trump Media Investors Plead Guilty to Insider Trading Scheme
AP Photo/Paul Sancya Two Florida venture capitalists pleaded guilty on Wednesday over their role in an insider trading scheme that boosted the stock price of former President Donald Trump’s media company. Brothers Michael and Gerald Shvartsman each pleaded guilty in New York to one count of securities fraud, which reportedly carries a maximum 20-year sentence. The brothers “admitted in court that they received confidential, inside information …
Brothers plead guilty to insider trading tied to Trump media company
Two brothers pleaded guilty in federal court Wednesday for their roles in a $22 million insider trading scheme connected to the company that took former President Trump’s social media company public. Florida venture capitalist Michael Shvartsman, 53, and his brother, Gerald, 46, each pleaded guilty to one count of securities fraud, which carries a maximum…
Trump Investors Face 20 Years in Prison After Pleading Guilty To Insider Trading Scheme Linked To Truth Social
Two key players in the Trump Media insider trading case have entered guilty pleas in court. Florida-based venture capitalist Michael Shvartsman and his brother, Gerald Shvartsman, confessed on Wednesday to participating in an insider trading scheme connected to the high-profile deal that brought former President Donald Trump’s social media venture into the public sphere. In New York, both brothers pleaded guilty to one count of securities fraud,…
Trump Media investors accused of insider trading plead guilty to fraud
Naruecha Jenthaisong/Getty ImagesTwo brothers were accused of insider trading ahead of Trump Media's public offering.Michael and Gerald Shvartsman each pleaded guilty to one count of securities fraud.The brothers pocketed $22 million in the scheme, according to prosecutors.Two brothers accused of participating in an insider trading scheme ahead of the public offering of former President Donald Trump's Truth Social media platform pleaded guilty W…
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