Michael Shvartsman, Gerald Shvartsman and Bruce Garelick made more than $22 million by trading in shares of Digital World Acquisition Corporation, according to federal prosecutors in New York.
Garelick was given a seat on DWAC's board, allowing him access to non-public information about the company's plans to merge with Trump Media. According to federal prosecutors, Garelick provided the information to Michael and Gerald Shvartsman, who were able to buy millions of shares before news of the Trump Media merger became public.
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