Michael Shvartsman, Gerald Shvartsman and Bruce Garelick allegedly made $22m based on tips about Trump’s media group
US prosecutors on Thursday charged three men with insider trading ahead of the proposed merger of former president Donald Trump’s social media company and a shell company in late 2021.
Michael Shvartsman, Gerald Shvartsman and Bruce Garelick allegedly made more than $22m trading in Digital World Acquisition Corp (DWAC), a so-called special purpose acquisition company, or Spac, based on tips about its planned combination with Trump Media & Technology Group.
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