News Formal

Investors charged with insider trading in Trump Media merger deal

  • 📰 washingtonpost
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Three investors in the blank-check firm working to take former president Trump’s media company public were charged with using insider information to make $22 million in illegal profits, federal prosecutors said Thursday.

It’s unclear whether other charges could arise from the probes by the SEC or the U.S. attorney’s office. Digital World had noted investigations by both agencies in SEC filings in recent months.

A former Trump Media executive, Will Wilkerson, has shared internal documents with the SEC and the SDNY as part of a whistleblower case Digital World and other special purpose acquisition companies, known as SPACs, raise money from investors for the purpose of finding and merging with a company they intend to take public.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 95. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Feds charge three with illegal trading ahead of Trump Media merger announcementMichael Shvartsman, Gerald Shvartsman, and Bruce Garelick allegedly 'made more than $22 million dollars in illegal profits.
Source: CNBC - 🏆 12. / 72 Read more »

3 men who funded Trump-acquired social media company charged with insider tradingThree men who funded the company that became Donald Trump's Truth Social platform have been charged with insider trading.
Source: ABC - 🏆 471. / 51 Read more »