Two men plead guilty to insider trading in Trump media firm case

Published: 03 April 2024 at 20:49

Michael Shvartsman and his brother Gerald Shvartsman pleaded guilty to securities fraud for insider trading related to Trump Media & Technology Group's public debut through a merger with a blank-check company. The Shvartsmans made $22 million in illegal profit by trading on nonpublic information and are scheduled to be sentenced on July 17, facing a maximum possible sentence of 20 years in prison.

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By LARRY NEUMEISTER

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