A now-public social media company pleaded guilty Wednesday to insider trading. Michael Shvartsman 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.
'Michael and Gerald Shvartsman admitted in court that they received confidential, inside information about an upcoming merger between DWAC and Trump Media, and used that information to make profitable, but illegal, open-market trades,' said U.S. Attorney Damian Williams. 'Insider trading is cheating, plain and simple.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Trump's Social Media Company Will Go Public After Merger With Shell Company Is ApprovedBut Trump wouldn't be able to immediately cash out his windfall.
Fonte: HuffPostParents - 🏆 414. / 53 Leggi di più »
Truth Social parent company Trump Media & Technology Group to become publicly traded companyEXCLUSIVE: Shareholders voted Friday to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity, Fox News Digital has learned.
Fonte: FoxBusiness - 🏆 458. / 53 Leggi di più »
Baby gear company defends social media post about 'smashing' gender stereotypes after angry parents reactBaby gear company Stokke drew backlash from parents who lashed out at the company on Instagram after they posted about breaking gender stereotypes with babies.
Fonte: FoxBusiness - 🏆 458. / 53 Leggi di più »
Trump’s social media company set to go public, potentially bringing him a windfallDonald Trump would own most of the company, and the total value of his stake could surpass $3 billion.
Fonte: adndotcom - 🏆 293. / 63 Leggi di più »
Trump social media company will go public as DWAC shareholders approve mergerDonald Trump faces a looming $454 million fraud judgment in New York that state Attorney General Letitita James could start collecting on next week.
Fonte: NBCPhiladelphia - 🏆 569. / 51 Leggi di più »