Investor Gerald Shvartsman sentenced to 22 months for $4.6M insider trading in Trump's Digital World Acquisition Corp.
Gerald Shvartsman, an investor in Donald Trump's social media venture Digital World Acquisition Corp., has been sentenced to 22 months in prison for insider trading. He profited illegally from confidential merger information before its public announcement in October 2021, gaining at least $4.6 million. Shvartsman, along with his brother Michael and associate Bruce Garelick, faced charges for their roles in the scheme, which totaled over $22 million in illicit gains.
October 16, 2024
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