Michael and Gerald Shvartsman made more than $22 million in an insider trading scheme related to the planned merger of Trump Media and a shell company.
Two Florida brothers have pleaded guilty to insider trading charges, admitting they made over $22 million illegally before the 2021 public announcement that an acquisition firm was taking former President Donald Trump's media company public.
New York (CNN) — South Florida venture capitalist Michael Shvartsman and his brother Gerald Shvartsman pleaded guilty on Wednesday to participating in an insider trading
Michael and Gerald Shvartsman, who had originally pleaded not guilty to securities fraud charges, each pleaded guilty to one count of securities fraud.
Two men pleaded guilty on Wednesday to insider trading in securities in the company that ultimately took former President Donald Trump's media business public.
Investor brothers Michael and Gerald Shvartsman admitted they made more than $22 million through illegal trades ahead of an announcement of a merger between Digital World Acquisition Corp and Trump Media.
NEW YORK -- Two Florida brothers pleaded guilty Wednesday to insider trading charges, admitting making over $22 million illegally before the public announcement in 2021 that an acquisition firm was taking former President Donald Trump's media company public.
