{"id":6509,"date":"2024-04-04T10:18:19","date_gmt":"2024-04-04T14:18:19","guid":{"rendered":"https:\/\/greatamericanewsdesk.com\/?p=6509"},"modified":"2024-04-04T10:18:19","modified_gmt":"2024-04-04T14:18:19","slug":"report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company","status":"publish","type":"post","link":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/","title":{"rendered":"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company"},"content":{"rendered":"\n

Two brothers pleaded guilty in federal court Wednesday for their roles in an insider trading scheme.<\/p>\n\n\n\n

Florida venture capitalist Michael Shvartsman, 53, and his brother, Gerald, 46, each pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. U.S. District Judge Lewis Liman set the brothers\u2019 sentencing hearing for July 17.<\/p>\n\n\n\n

According to the Department of Justice, the brothers obtained confidential information about details of the deal, including the timeline of its announcement, and then bought millions of dollars\u2019 worth of DWAC securities on the open market before the merger with Trump Media went public.<\/p>\n\n\n\n

The Hill reports<\/a>:<\/p>\n\n\n\n

\n

\u201cMichael and Gerald Shvartsman admitted in court that they received confidential, inside information about an upcoming merger between DWAC and Trump Media and used that information to make profitable, but illegal, open-market trades,\u201d U.S. Attorney Damian Williams said in a press release Wednesday from the Department of Justice.<\/p>\n\n\n\n

\u201cInsider trading is cheating, plain and simple, and today\u2019s convictions should remind anyone who may be tempted to corrupt the integrity of the stock market that it will earn them a ticket to prison,\u201d Williams added.<\/p>\n\n\n\n

The Shvartsmans were arrested last June<\/a>, along with a third individual, Bruce Garelick, who had worked at Michael Shvartsman\u2019s Rocket One Capital venture firm. Garelick, who was placed on DWAC\u2019s board of directors, is accused of providing critical information to the brothers about the forthcoming deal in 2021. Garelick is set to go to trial at the end of this month.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Two brothers pleaded guilty in federal court Wednesday for their roles in an insider trading scheme. Florida venture capitalist Michael Shvartsman, 53, and his brother, Gerald, 46, each pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. U.S. District Judge Lewis Liman set the brothers\u2019 sentencing […]<\/p>\n","protected":false},"author":2,"featured_media":1282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[70,8,14,93,358,853],"class_list":["post-6509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-crime","tag-donald-trump","tag-justice-department","tag-media","tag-stock-market","tag-truth-social"],"yoast_head":"\nReport: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company - Great America News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company - Great America News Desk\" \/>\n<meta property=\"og:description\" content=\"Two brothers pleaded guilty in federal court Wednesday for their roles in an insider trading scheme. Florida venture capitalist Michael Shvartsman, 53, and his brother, Gerald, 46, each pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. U.S. District Judge Lewis Liman set the brothers\u2019 sentencing […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\" \/>\n<meta property=\"og:site_name\" content=\"Great America News Desk\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-04T14:18:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1632\" \/>\n\t<meta property=\"og:image:height\" content=\"1065\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madeleine Jackson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madeleine Jackson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\"},\"author\":{\"name\":\"Madeleine Jackson\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/#\/schema\/person\/e7309ff06a09187d683d78b9529a62b2\"},\"headline\":\"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company\",\"datePublished\":\"2024-04-04T14:18:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\"},\"wordCount\":264,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg\",\"keywords\":[\"Crime\",\"Donald Trump\",\"Justice Department\",\"Media\",\"Stock Market\",\"Truth Social\"],\"articleSection\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\",\"url\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\",\"name\":\"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company - Great America News Desk\",\"isPartOf\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg\",\"datePublished\":\"2024-04-04T14:18:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage\",\"url\":\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg\",\"contentUrl\":\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg\",\"width\":1632,\"height\":1065,\"caption\":\"Arrest image via Pixabay\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/greatamericanewsdesk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/#website\",\"url\":\"https:\/\/greatamericanewsdesk.com\/\",\"name\":\"Great America News Desk\",\"description\":\"Your Source for Great America's News\",\"publisher\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/greatamericanewsdesk.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/#organization\",\"name\":\"Great America News Desk\",\"url\":\"https:\/\/greatamericanewsdesk.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/08\/GAND-Email.png\",\"contentUrl\":\"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/08\/GAND-Email.png\",\"width\":600,\"height\":148,\"caption\":\"Great America News Desk\"},\"image\":{\"@id\":\"https:\/\/greatamericanewsdesk.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/#\/schema\/person\/e7309ff06a09187d683d78b9529a62b2\",\"name\":\"Madeleine Jackson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/greatamericanewsdesk.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/eb743ca3c0d5dee4d94e8a5a7742d76f842c0bcdbe5f6f26ea19261f1c8a9df0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/eb743ca3c0d5dee4d94e8a5a7742d76f842c0bcdbe5f6f26ea19261f1c8a9df0?s=96&d=mm&r=g\",\"caption\":\"Madeleine Jackson\"},\"url\":\"https:\/\/greatamericanewsdesk.com\/author\/njackson\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company - Great America News Desk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/","og_locale":"en_US","og_type":"article","og_title":"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company - Great America News Desk","og_description":"Two brothers pleaded guilty in federal court Wednesday for their roles in an insider trading scheme. Florida venture capitalist Michael Shvartsman, 53, and his brother, Gerald, 46, each pleaded guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison. U.S. District Judge Lewis Liman set the brothers\u2019 sentencing […]","og_url":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/","og_site_name":"Great America News Desk","article_published_time":"2024-04-04T14:18:19+00:00","og_image":[{"width":1632,"height":1065,"url":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg","type":"image\/jpeg"}],"author":"Madeleine Jackson","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Madeleine Jackson","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#article","isPartOf":{"@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/"},"author":{"name":"Madeleine Jackson","@id":"https:\/\/greatamericanewsdesk.com\/#\/schema\/person\/e7309ff06a09187d683d78b9529a62b2"},"headline":"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company","datePublished":"2024-04-04T14:18:19+00:00","mainEntityOfPage":{"@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/"},"wordCount":264,"commentCount":1,"publisher":{"@id":"https:\/\/greatamericanewsdesk.com\/#organization"},"image":{"@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage"},"thumbnailUrl":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg","keywords":["Crime","Donald Trump","Justice Department","Media","Stock Market","Truth Social"],"articleSection":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/","url":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/","name":"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company - Great America News Desk","isPartOf":{"@id":"https:\/\/greatamericanewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage"},"image":{"@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage"},"thumbnailUrl":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg","datePublished":"2024-04-04T14:18:19+00:00","breadcrumb":{"@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#primaryimage","url":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg","contentUrl":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg","width":1632,"height":1065,"caption":"Arrest image via Pixabay"},{"@type":"BreadcrumbList","@id":"https:\/\/greatamericanewsdesk.com\/featured\/report-brothers-plead-guilty-to-insider-trading-tied-to-trump-media-company\/njackson\/2024\/04\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/greatamericanewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Report: Brothers Plead Guilty To Insider Trading Tied to Trump Media Company"}]},{"@type":"WebSite","@id":"https:\/\/greatamericanewsdesk.com\/#website","url":"https:\/\/greatamericanewsdesk.com\/","name":"Great America News Desk","description":"Your Source for Great America's News","publisher":{"@id":"https:\/\/greatamericanewsdesk.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/greatamericanewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/greatamericanewsdesk.com\/#organization","name":"Great America News Desk","url":"https:\/\/greatamericanewsdesk.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/greatamericanewsdesk.com\/#\/schema\/logo\/image\/","url":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/08\/GAND-Email.png","contentUrl":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/08\/GAND-Email.png","width":600,"height":148,"caption":"Great America News Desk"},"image":{"@id":"https:\/\/greatamericanewsdesk.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/greatamericanewsdesk.com\/#\/schema\/person\/e7309ff06a09187d683d78b9529a62b2","name":"Madeleine Jackson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/greatamericanewsdesk.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/eb743ca3c0d5dee4d94e8a5a7742d76f842c0bcdbe5f6f26ea19261f1c8a9df0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/eb743ca3c0d5dee4d94e8a5a7742d76f842c0bcdbe5f6f26ea19261f1c8a9df0?s=96&d=mm&r=g","caption":"Madeleine Jackson"},"url":"https:\/\/greatamericanewsdesk.com\/author\/njackson\/"}]}},"jetpack_featured_media_url":"https:\/\/greatamericanewsdesk.com\/wp-content\/uploads\/2022\/11\/police-g0cc5dc285_1920-e1674500116487.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=\/wp\/v2\/posts\/6509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=%2Fwp%2Fv2%2Fcomments&post=6509"}],"version-history":[{"count":0,"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=\/wp\/v2\/posts\/6509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=\/wp\/v2\/media\/1282"}],"wp:attachment":[{"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=%2Fwp%2Fv2%2Fcategories&post=6509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greatamericanewsdesk.com\/?rest_route=%2Fwp%2Fv2%2Ftags&post=6509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}