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☆ Financier Found Guilty in Trump Media Insider Trading Trial
▼ + stars: | 2024-05-09 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Federal prosecutors had charged Bruce Garelick with five counts of securities fraud and conspiracy. The information helped two brothers — Michael Shvartsman and Gerald Shvartsman — make nearly $23 million in illegal trading profits by buying Digital World securities in advance of the announcement, which sent the stock soaring. Mr. Garelick, who worked for Michael Shvartsman at a small Miami-based venture capital firm, Rocket One, made about $50,000 by trading off what the authorities said was nonpublic information. Last month, the Shvartsman brothers decided to forgo a trial and pleaded guilty to securities fraud charges. In their plea agreements, prosecutors have recommended a sentence of roughly four to five years for Michael Shvartsman and three to four years for his younger brother.

Persons: Donald J, Bruce Garelick, Garelick, — Michael Shvartsman, Gerald Shvartsman —, Michael Shvartsman Organizations: Trump Media & Technology Group, Truth, Acquisition Corporation, Digital Locations: Manhattan, Miami

☆ Investor found guilty in Trump Media insider trading case
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —An investor in the shell company that merged with Trump Media was found guilty on Thursday of insider trading linked to that blockbuster deal, according to federal prosecutors. “Garelick’s federal conviction is yet another stark reminder that insider trading is always a losing bet.”Garelick was among three men who were arrested and charged last June in the insider trading case. The other two, Florida venture capitalist Michael Shvartsman and his brother Gerald Shvartsman, pleaded guilty last month to participating in the insider trading scheme. Prosecutors have not alleged that former President Donald Trump, the chairman and leading shareholder of Trump Media, had any involvement in the scheme. Beyond their own purchases, prosecutors say Garelick and his co-defendants tipped off friends and colleagues who also bought securities in Digital World before the Trump Media deal was announced publicly.

Persons: Bruce Garelick, Garelick, ” Damian Williams, “, ” Garelick, Michael Shvartsman, Gerald Shvartsman, Donald Trump, Michael, rhough, Trump Organizations: CNN, Trump Media, Acquisition, Truth Social, Southern, of, Prosecutors, Digital, Nasdaq, rhough Trump Media Locations: of New York, Florida

☆ Trump Media investor convicted of insider trading ahead of merger
▼ + stars: | 2024-05-09 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

A federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in October 2021 that it would merge with Trump Media . Two co-defendants of Garelick, the brothers Michael and Gerald Shvartsman, pleaded guilty to insider trading charges on April 3. "Garelick's federal conviction is yet another stark reminder that insider trading is always a losing bet." DWAC and Trump Media completed their merger in late March. Trump Media hired a new auditor, Semple, Marchal & Cooper LLP last weekend to replace BF Borgers.

Persons: Bruce Garelick, Donald Trump, Stormy Daniels, Michael, Gerald Shvartsman, Garelick, Michael Shvartsman's, Damian Williams, Williams, DJT, Benjamin Borgers, Semple, Cooper Organizations: Manhattan Federal Court, Trump Media, Trump, Garelick, Rocket, Prosecutors, Acquisition Corporation, Trump Media & Technology Group, Manhattan U.S, Public, Securities and Exchange Commission, SEC, BF, CPA, Marchal Locations: Manhattan, New York City, New York, U.S

☆ Trump Media insider trading trial begins with co-founder testifying, 'I've never been paid at all'
▼ + stars: | 2024-05-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

The first witness in the insider trading case against Bruce Garelick was Andy Litinsky, a co-founder of Trump Media. Garelick has decided to take his chances with a jury after his two co-defendants, the brothers Michael Shvartsman and Gerald Shvartsman, pleaded guilty on April 3 to insider trading charges in the case. Garelick, Bach argued, "acted in good faith at all times." Shahabian repeatedly had Litinsky describe the confidentiality agreements in letters of intent that Trump Media signed with two prospective merger partners, DWAC and Bennessere Capital Acquisition Corp. Asked if he traded stock based on the confidential information, Litinsky likewise replied, "No," noting, "It would be against the rules."

Persons: Bruce Garelick, Amr Alfiky, Donald Trump, Andy Litinsky, Litinsky, Garelick, Michael Shvartsman, Gerald Shvartsman, Gerald, Attorney Elizabeth Hanft, Michael Schvartsman, Jonathan Bach, Bach, Bruce, Michael Shvartsman's, Matthew Shahabian, Wes Moss, Trump, Michael Kovac, Wireimage, Shahabian Organizations: Manhattan Federal Court, Reuters, Trump Media, Trump, Attorney, NBC, Hammerstein, DWAC, Bennessere, Corp Locations: Manhattan, New York City, U.S, Florida, DWAC, Providence , Rhode Island, Miami

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ Shvartsman brothers plead guilty to insider trading on Trump Media merger plans
▼ + stars: | 2024-04-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

"I've made a terrible mistake," Gerald Shvartsman, 46, told Judge Lewis Liman in Manhattan federal court as he pleaded guilty, according to the Associated Press. Michael Shvartsman, 53, and Gerald Shvartsman, who owns a furniture manufacturing company, are scheduled to be sentenced on July 17. Sentencing guidelines recommend that Gerald Shvartsman, who netted about $4.6 million in illegal trading profits, receive a prison term of between 33 and 41 months. Alan Futerfas, a lawyer for Michael Shvartsman, declined to comment on the guilty plea. A lawyer for Gerald Shvartsman did not immediately respond to a request for comment.

Persons: Donald Trump's, Michael Shvartsman, Gerald Shvartsman, DWAC, I've, Judge Lewis Liman, Bruce Garelick, Michael Shvartsman's, Liman, Damian Williams, Alan Futerfas Organizations: Trump Media & Technology Group, Trump Media, Associated Press, Rocket, Manhattan U.S Locations: Florida, New York, Manhattan, Michael Shvartsman's Miami

☆ Two investors in Trump Media insider trading case plead guilty
▼ + stars: | 2024-04-03 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

The two brothers were arrested in June and charged with illegally trading on nonpublic knowledge of a shell company’s secret plan to buy Trump Media & Technology Group, the parent company of struggling social network Truth Social. Shares of the shell company, Digital World Acquisition Corporation, spiked after the blank-check company publicly announced an agreement to merge with Trump Media. Trump owns 78.8 million shares in Trump Media, a stake valued at about $4.1 billion. The defendants passed the secret information about the impending Trump Media deal to friends on. There was no allegation in the indictment that Trump himself had any involvement in the alleged insider trading scheme.

Persons: Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ”, Trump, Michael Shvartsman’s, Gerald Shvartsman’e, CNN’s Kara Scannell Organizations: New, New York CNN, Trump Media & Technology Group, DWAC, Trump Media, Southern, of, Acquisition Corporation, “, Truth, Trump, Digital Locations: New York, Florida, of New York, Las Vegas

☆ 2 Brothers in Trump Media Insider-Trading Scheme Plead Guilty
▼ + stars: | 2024-04-03 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Two brothers from Miami pleaded guilty on Wednesday in federal court in Manhattan for their role in a nearly $23 million insider-trading scheme surrounding the 2021 announcement that former President Donald J. Trump’s social media company planned to merge with a cash-rich shell company. Michael and Gerald Shvartsman, who had pleaded not guilty to securities fraud charges last summer, were set to go on trial later this month. But the brothers decided this week to forgo a trial, instead entering their guilty pleas before Judge Lewis J. Liman of U.S. District Court for the Southern District of New York. Each man pleaded guilty to one count of securities fraud. Michael Shvartsman, who ran a venture investment firm called Rocket One, used some of the proceeds from the scheme to buy a $14 million luxury yacht that he named Provocateur.

Persons: Donald J, Michael, Gerald Shvartsman, Judge Lewis J, Liman, Michael Shvartsman Organizations: Southern, of, Trump Media & Technology Group, Acquisition Corporation Locations: Miami, Manhattan, U.S, of New York

☆ Trump Media investors accused of insider trading plead guilty to fraud
▼ + stars: | 2024-04-03 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Two brothers were accused of insider trading ahead of Trump Media's public offering. Michael and Gerald Shvartsman each pleaded guilty to one count of securities fraud. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwo brothers accused of participating in an insider trading scheme ahead of the public offering of former President Donald Trump's Truth Social media platform pleaded guilty Wednesday to one count of securities fraud apiece. Trump Media is Truth Social's parent company.

Persons: Michael, Gerald Shvartsman, —, Donald Trump's, Florida's Michael Organizations: Trump, Service, Trump Media & Technology Group, Trump Media, Business

☆ Two defendants in Trump Media insider trading case signal possible guilty pleas
▼ + stars: | 2024-04-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

A Florida venture capitalist and his brother moved Monday toward potential guilty pleas in an insider trading case connected to the merger that took Donald Trump's social media company public last week. A new court filing Monday revealed that a change of plea hearing for the brothers will be held Wednesday afternoon in U.S. District Court in Manhattan. Trump Media and Technology Group mentioned the case in a securities filing on Monday. As of late Monday, there was no change of plea hearing for him scheduled on the docket. They are accused of buying up DWAC stock based on nonpublic information that the shell company was considering a possible merger with Trump's social media company, Trump Media and Technology Group, which owns the Truth Social app.

Persons: Michael Shvartsman, Donald Trump's, Gerald Shvartsman, Alan Futerfas, Michael Shvartsman's, Futerfas, Donald Trump, Shvartsman, Gerald Shvartman, Roland Riopelle, Bruce Garelick, Garelick, Judge Lewis Liman, Gerald, DWAC Organizations: Manhattan Federal Court, Trump Media, Trump Organization, CNBC, Technology Group, TMTG, DOJ, Department of Justice, U.S, Attorney's, Trump Media's, Nasdaq, Corp, Rocket, Shvartsman Locations: Manhattan, New York City, U.S, Florida, New York, South Florida, Miami, DWAC

☆ DWAC shares soar as merger with Trump social media company appears closer
▼ + stars: | 2024-02-15 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. jumped 15% Thursday morning after the special purpose acquisition company announced Wednesday night that it is close to completing its proposed merger with Trump Media and Technology Group, former President Donald Trump's social media company. That SPAC first began merger talks with Trump's media group, which operates the Truth Social platform, in October 2021. Shvartsman last week was hit with a new money laundering count related to transfers he allegedly conducted after netting a profit of $18.2 million from selling DWAC stock. Shares of DWAC have rallied in recent months as Trump has emerged as the likely Republican nominee for president in November.

Persons: Donald Trump, Donald Trump's, DWAC, Eric Swider, Michael Shvartsman Organizations: Corp, Trump Media, Technology Group, The Securities, Exchange Commission, Department of Justice, SEC, Shvartsman, Trump, Republican Locations: Washington ,, Florida, New York

☆ Trump Media SPAC insider trading defendant hit with new money laundering count
▼ + stars: | 2024-02-07 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A man already charged with insider trading related to a shell company's planned merger with Donald Trump's social media firm was hit with a new money laundering count in Manhattan federal court. The new indictment details two money transfers Shvartsman conducted after netting a profit of about $18.2 million from selling Digital World Acquisition Corp . Shvartsman, his brother Gerald Shvartsman and Bruce Garelick were indicted in June on securites fraud charges related to their sale of DWAC securities in fall 2021 and other conduct. The trio of investors allegedly bought DWAC securities after learning on a confidential basis that the so-called special purpose acquisition company was eyeing a merger with Trump Media and Technology Group. TMTG includes the social media platform Truth Social, which is one of the former president's favorite methods for communicating with supporters online.

Persons: Michael Shvartsman, Donald Trump's, Shvartsman, Gerald Shvartsman, Bruce Garelick, DWAC Organizations: Federal, Corp, Trump Media, Technology Group, TMTG, Prosecutors Locations: New York, Manhattan

☆ A New Yorker who invests in out-of-state real estate shares how she selects strong markets, where she's looking to buy in 2024, and property must-haves: 'I'm looking for three bedrooms minimum'
▼ + stars: | 2024-01-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

'Look for the really ugly houses'Especially if you're investing out-of-state or in an unfamiliar area, "your biggest asset is other agents," said Casey. "You have to go to the block or know someone who knows the market really well." But that's not necessarily what you're looking for as an investor. "When you're looking for an investment property, you're looking for something really under market that you can renovate." Ask, 'Would this work for a tenant in the market you're investing in?'"

Persons: Nyasia Casey, I've, Casey, Baltimore Casey, David Shvartsman, she's, wouldn't, fourplexes, She's, I'm Organizations: Business, Amazon FBA, Yorker, Baltimore, Agents, YouTube Locations: New York City, Baltimore , Maryland, Cleveland, Philadelphia, Baltimore, NYC, New York, Albany, Bronx

The merger, which would take Trump Media public, has yet to occur. The proposed Digital World-Trump Media merger remains uncertain. If it closes, Trump Media would gain access to more than $1 billion in cash from Digital World's institutional investors, such as hedge funds. According to a Feb. 2, 2021 services agreement, Trump controls 90% of Trump Media. Digital World shareholders are set to vote in August on whether to extend the deadline to September 2024.

Persons: Michael Shvartsman, Amr Alfiky, Donald Trump's, Michael, Gerald Shvartsman, Bruce Garelick, District Judge Lewis Liman, Trump, Garelick, Shvartsman, Jody Godoy, Jonathan Stempel, Richard Chang Organizations: Manhattan Federal Court, REUTERS, U.S, Trump Media & Technology Group, Trump Media, District, Rocket, Digital, Authorities, U.S . Securities, Exchange Commission, Trump, Court, Southern District of, SEC, Thomson Locations: Manhattan, New York City, U.S, Florida, New York, Miami, Southern District, Southern District of New York

☆ 3 investors charged with insider trading ahead of deal to take Donald Trump's social-media company public
▼ + stars: | 2023-06-30 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The US Department of Justice charged three men with insider trading on Thursday. Prosecutors said the investors illegally made $22 million trading shares in a blank-check company in October 2021. The trio loaded up on shares in DWAC just days before it announced a plan to merge with Trump Media and Technology Group. Neither Trump nor Trump Media are accused of any wrongdoing. Authorities said that Garelick, who served on DWAC's board of directors in addition to his role as Rocket One's investing chief, gave "intelligence" about a potential merger with Trump Media to the Shvartsmans.

Persons: Prosecutors, —, Donald Trump's, Michael Shvartsman, Gerald Schvartsman, Bruce Garelick, Garelick, DWAC didn't Organizations: US Department of Justice, Trump Media, Technology, Service, Department of Justice, Trump, Authorities, Federal Reserve Locations: DWAC

☆ Three charged with insider trading ahead of Trump Media SPAC deal
▼ + stars: | 2023-06-29 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

The former US President announced his intention to create a new social media platform after he was banned from Facebook and Twitter last year. WASHINGTON — Three Florida men were charged Thursday in criminal and civil complaints with insider trading of a shell company's stock before it announced plans to merge with a social media firm launched by former President Donald Trump. The men, Michael Shvartsman, Gerald Shvartsman, and Bruce Garelick, allegedly netted more than $22 million in illicit profits from trading in shares of Digital World Acquisition Corp . The DOJ announced the charges related to the Trump Media proposed merger as part of a string of allegations of illegal trading. is a special purpose acquisition company, or SPAC, that announced plans to merge with Trump Media & Technology Group in October 2021.

Persons: Donald Trump, Michael Shvartsman, Gerald Shvartsman, Bruce Garelick, Garelick, Trump, TMTG Organizations: Facebook, Twitter, WASHINGTON —, Justice Department, The Securities, Exchange Commission, Rocket, DOJ, Trump Media, Pfizer, Trump Media & Technology Group Locations: WASHINGTON — Three Florida

New York CNN —Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump’s media business public. The value of the securities they purchased went up sharply once the Trump deal was announced, prosecutors say. After signing non-disclosure agreements, prosecutors say they were provided confidential information that Trump Media was a potential target of the SPACs. Prosecutors say Garelick provided to his co-conspirators what he described as “intelligence” about the Trump merger negotiations and the timing of a public merger announcement. Digital World shares skyrocketed following the Trump Media merger news as investors saw it as a way to bet on the fortunes of the former president.

Persons: Donald Trump’s, Trump, Michael Shvartsman, Gerald Shvartsman, Bruce Garelick, Donald Trump, hadn’t, Garelick Organizations: New, New York CNN, Corporation, Truth Social, Trump Media & Technology Group, Digital, The Securities, Exchange Commission, Nasdaq, Trump Media, Prosecutors, Trump Locations: New York, Miami

☆ „Chișinău-Gaz”: Milioanele din conductele subterane de gaze - în conturile firmelor afiliate unor foști și actuali șefi și angajați
▼ + stars: | 2021-05-28 | by ( Borodin Victoria | ) www.zdg.md time to read: +18 min

Din martie curent, Maria Arabadji a devenit unicul fondator și a preluat funcția de administratoare. „Compania la care soția mea este fondator se ocupă doar de lucrări de montare a conductelor de apă, canalizare și a rețelelor de gaze. „Exfactor-Grup” a fost și unul dintre sponsorii Partidului ȘOR în campania electorală pentru alegerile parlamentare din 24 februarie 2019. SRL Lagmar-Impex și SRL Braus Imobiliare sunt alte două companii cu care SRL „Gazoduct-GTN” are semnate contracte grase. Din 2009 și până în prezent, SRL „Chișinău-Gaz” a fost condusă de trei directori.

Persons: ANRE, Alexandr Arabadji, Ion, Constantin, Alexandr Gusev, Alexandru, Vladimir, Mitropolitul, Cristina, Vladimir Calîn, Arabadji, Calîn, Cristina Burdiumov, Ivan Zamfirov, Burdiumov, Iacov Cazacu, Ion Burdiumov, ZdG, Maria, Maria Arabadji, Alexandr Rogovoi, Boris Shvartsman, Veaceslav Platon, Vladimir Tonu, Ilan, Vladimir Plahotniuc, Ilan Şor, Igor Dodon, Ludmila Dubină, Dinu Dubină, Dubină, Emilian Margină, Dinu, Victor Parlicov, Alexandr, Constantin Cuiumju, Acţiunile, Vasile Botnari, Oleg Teterea Organizations: Agenția Națională, Consiliului Concurenței, Reglementare, Mitropolitul Chișinăului, Internaţional, Partidului, Inamstro, Concurenței, Procuratura Locations: Chișinău, SA, Energetică, orhei, Internaţional Chişinău, Mărculești, Florești, Orhei, Moldova

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