Three men who funded the company that became Donald Trump's Truth Social platform have been charged with insider trading. 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 Digital World Acquisition Group's board, allowing him access to nonpublic 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. 3 men who funded Trump-acquired social media company charged with insider trading originally appeared on abcnews.go.com

Source: ABC News June 29, 2023 22:02 UTC