_brothers-plead-guilty-in-insider-trading-scheme-involving-trump39s-media-company-merger.jpg "Brothers Plead Guilty in Insider Trading Scheme Involving Trump's Media Company Merger from tech media company Video Screenshot Preview")
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✓ Published: 05-Apr-2024
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✓ Published: 05-Apr-2024
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Brothers Michael and Gerald Shvartsman pleaded guilty to an insider trading scheme related to Donald Trump's social media company merger. They profited over $23 million by tipping off friends about the planned merger of Trump Media & Technology Group and Digital World Acquisition Corp. Michael was seen as the mastermind, and with his $18.2 million in illegal profits, he bought a $14 million yacht. Gerald made $4.6 million illegally from the scheme. Trump's company went public last week, but shares have been volatile.
Brothers Michael and Gerald Shvartsman pleaded guilty to an insider trading scheme related to Donald Trump's social media company merger. They profited over $23 million by tipping off friends about the planned merger of Trump Media & Technology Group and Digital World Acquisition Corp. Michael was seen as the mastermind, and with his $18.2 million in illegal profits, he bought a $14 million yacht. Gerald made $4.6 million illegally from the scheme. Trump's company went public last week, but shares have been volatile.
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