Michael and Gerald Shvartsman made millions by trading in shares of Digital World Acquisition Corporation before it merged with Trump Media, according to federal prosecutors in New York. Each of them faces up to 20 years in prison when they're sentenced in July, but prosecutors agreed to recommend a sentence of about three years.
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2 brothers who helped fund Trump Media company plead guilty to insider tradingTwo brothers who helped fund former President Trump's now-public social media company pleaded guilty Wednesday to insider trading.
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Shvartsman brothers plead guilty to insider trading on Trump Media merger plansMichael 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.
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Michael and Gerald Shvartsman plead guilty to insider trading charges related to Trump media companyTwo 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.
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