The New York federal criminal trial of Bruce Garelick, who is accused of insider trading in shares of a shell company ahead of its announcement of a plan to merge with Trump Media, began Tuesday.
Garelick was on DWAC's board of directors in the months leading up to the merger announcement. As such, he was barred from sharing material non-public information about the company that might be used by others to buy shares and exploit a price rise after the information became public.
The defense attorney also sought to draw a distinction between Garelick, who lived and worked remotely in Providence, Rhode Island, in 2021 and Michael Shvartsman, who lived and worked in the Miami area."You're not going to see any evidence, at all, that Bruce tipped anybody. Because he didn't. Bruce was not a tipper," Bach said. "You will see evidence that others gave tips.
Donald Trump, right, and producer Andy Litinsky, left, attend the Comedy Central Roast of Donald Trump at the Hammerstein Ballroom in New York City on March 9, 2011.In his testimony, Litinsky detailed the events that led up to Trump Media's merger agreement with DWAC. Bach appeared to be trying to hammer home to jurors the idea that any potential deal with Trump was often just that — potential — because the former president had a history of walking away from deals.
Litinsky did not get to answer that question after a prosecutor objected to it, and apparently the objection was sustained by Judge Lewis Liman after a sidebar conference with the attorneys. But in a separate court case, Donald Trump is arguing that Litinsky and Moss deserve none of their promised shares.
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