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    Trump Media Investor Convicted Of Insider Trading

    By
    Madeleine Jackson
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    3
    Arrest image via Pixabay

    On Thursday, a Manhattan grand jury found financier Bruce Garelick guilty of insider trading charges in a scheme that involved the merger of former President Donald J. Trump’s social media company with a publicly traded shell company.

    Federal prosecutors had charged Garelick with five counts of securities fraud and conspiracy. 

    Authorities claimed Garelick shared confidential information with his boss and at least one other person that Trump Media & Technology Group, the parent company of Truth Social, was close to announcing a merger with Digital World Acquisition Group, the shell company.

    Mr. Garelick, 54, a former hedge fund manager, had been a board member of Digital World. 

    The New York Times has more:

    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 called Rocket One, made about $50,000 by trading off what 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.

    Digital World raised about $300 million from investors in its initial public offering in September 2021. A little over a month later, the SPAC announced a deal to merge with Trump Media. After a long delay, the merger was completed in March and Trump Media became a publicly traded company. Mr. Trump’s nearly 70 percent stake in the firm is worth about $6 billion.

    In a closing argument, Daniel Nessim, a federal prosecutor, described Mr. Garelick as a “sophisticated professional” who “cheated” and used inside information to benefit himself and his boss, Michael Shvartsman.

    Garelick could face at least 25 years in prison.

    This is a breaking news story. Please check back for updates.

    Fox News Host Laura Ingraham Joins Board of Trump Jr.’s New SPAC

    By
    Madeleine Jackson
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    0

    Fox News primetime host Laura Ingraham has been named a board member of a new special-purpose acquisition company (SPAC) led by Donald Trump Jr..

    The blank-check firm, Colombier Acquisition Corp. III, filed its registration statement with the U.S. Securities and Exchange Commission (SEC) on Friday, planning to raise 26 million units at $10 each — a total IPO target of about $260 million.

    The stated mission of the new SPAC is stirring: the company intends to “fund the next chapter of American Exceptionalism and help Make America Grow Again.”

    A Powerful Line-Up

    This initiative brings together heavyweight conservative and business voices:

    • Donald Trump Jr. himself is listed as a director of the SPAC.
    • Ingraham, as noted, takes a board seat, aligning her media voice with pro-growth, America-first business leadership.
    • Others on the board include billionaire investor Chamath Palihapitiya (often dubbed “Wall Street’s SPAC king”), Blake Masters (a former president of the Thiel Foundation and GOP Senate candidate-turned-investor), and conservative business leader Chris Buskirk of 1789 Capital.
    • The SPAC is sponsored by 1789 Capital — a firm with ties to Trump family allies including Trump Jr. — and led operationally by finance veteran Omeed Malik.

    Why This Matters for the Republican Agenda

    1. Scaling American Growth — The SPAC presents an opportunity to invest in high-potential private companies that are aligned with conservative economic principles: innovation, domestic manufacturing, job creation. It echoes longstanding themes of shrinking dependency on foreign supply chains and revitalizing American industry.
    2. Bringing Conservative Media Into the Arena — Laura Ingraham’s role on the board is significant beyond her television presence. It bridges the media platform with private-capital activity in service of a pro-growth agenda, reinforcing conservative alignment across cultural and economic spheres.
    3. Leveraging the Trump Ecosystem — This SPAC is further proof of increasing alignment between the Trump family’s business interests and the conservative movement. With Trump Jr. at the helm and Fox News hosts like Ingraham working in the same orbit, the cultural and economic wings of the movement are becoming more integrated. Some might view this as a consolidation of influence — and for supporters, it represents an effective mobilization of talent, media, capital and ideas.
    4. Messaging Strength — The marketing language around “American Exceptionalism,” “Make America Grow Again,” and taking bold action to merge private champions into public markets resonates deeply with patriotic, pro-growth, and pro-Liberty voters and investors. It signals optimism about the future of U.S. business and opportunity.

    Considerations for Conservative Investors & Supporters

    • Alignment of values and vision: This venture clearly invites participation by those who believe in American economic strength, renewal of manufacturing, and innovation under a conservative framework.
    • Risk and reward: As with all SPACs, there are inherent risks — particularly the uncertainty of what private company will be merged and how the market will react. However, the backing of high-profile conservative leaders may bring a unique brand strength and network effect.
    • Cultural impact: Ingraham’s involvement means that conservative media will potentially be linked to private-market outcomes. This could amplify messaging but also raise questions about separation of media and business roles (a subject of debate).
    • Timing: The filing was recent, and the IPO process is underway. As the venture develops, more details will emerge (which company they will target, when, etc.). Supporters should watch for updates and ensure that the company they merge with aligns with the broader vision.

    What’s Next

    Supporters in the conservative movement will likely view this development as a concrete manifestation of turning media influence into economic muscle — shaping culture and business in tandem.

    The IPO units are expected to trade under the ticker “CLBR U” on the New York Stock Exchange (NYSE).

    The next steps will include selecting a target company to merge with, closing the deal, and executing on growth plans. Investors should monitor the company’s announcements and disclosures via SEC filings.

    Media watchers will track how this move influences the relationship between conservative media, the Trump business ecosystem, and public market investment.

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    Amanda Head: Debt Deal Is A Disaster!

    By
    Amanda Head
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    0

    Capitol Hill is in a frenzy over the latest debt deal reached between lawmakers.

    Watch Amanda explain the situation below:

    Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

    Elon Musk Accuses Trump Ally Of ‘Leaking’ Info To The Media

    By
    Madeleine Jackson
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    3
    UK Government, CC BY 2.0 , via Wikimedia Commons

    Tensions are running high within Trump’s inner circle…

    Billionaire Elon Musk clashed publicly with Boris Epshteyn, one of Trump’s closest allies in what sources called a “massive blowout” over key Cabinet appointments.

    According to three sources cited by Axios, the dispute reached a boiling point during a dinner at Trump’s Mar-a-Lago club last week during which Musk accused Epshteyn of leaking sensitive details about the transition process, including potential personnel picks.

    “You don’t know what you’re talking about,” Epshteyn reportedly fired back during the heated exchange.

    The altercation highlights a power struggle as Musk, a newcomer to Trump’s inner circle, increasingly advocates for his preferred candidates. Musk has reportedly criticized Epshteyn’s influence in selecting Justice Department nominees, including Matt Gaetz for attorney general.

    Musk is lobbying for Howard Lutnick, co-chair of Trump’s transition team, as Treasury secretary, over Wall Street veteran Scott Bessent.

    Despite the friction, Musk maintains considerable support among Trump’s family and allies. 

    However, the tech billionaire’s growing role in the transition has rankled longtime Trump loyalists, who view him as overstepping boundaries. 

    Musk has been among the president-elect’s most vocal and influential supporters since he endorsed Trump immediately after a July assassination attempt at a Pennsylvania rally but some in Trump’s inner circle say the Tesla CEO is being to overstay his welcome.

    “Elon won’t go home. I can’t get rid of him. Until I don’t like him,” Trump quipped, according to a source in the room when Trump met with Republican lawmakers on Capitol Hill last Wednesday.

    some Republicans have questioned how long Trump and Musk can happily co-exist, particularly given Trump’s past frustration with those who take up too much of the spotlight.

    “Trump is not going to have another alpha. I think Trump is going to tire of him,” one source close to the transition told The Hill.

    One Republican lobbyist with ties to Trump said there are some in the president-elect’s orbit who think Musk is “a little big for his britches.”

    Trump transition team spokesperson Karoline Leavitt did not respond to requests for comment from The Hill, but in a statement on Wednesday to NBC News described Musk and Trump as “great friends and brilliant leaders working together to Make America Great Again.”

    “Elon Musk is a once in a generation business leader and our federal bureaucracy will certainly benefit from his ideas and efficiency,” Leavitt said.

    New York Launches Probe Into Trump Judge

    By
    Madeleine Jackson
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    4
    Gavel via Wikimedia Commons Image

    The New York State Commission on Judicial Conduct has launched an investigation into a New York attorney’s claim that he advised Judge Arthur Engoron in the case against former President Donald Trump.

    Attorney Adam Leitman Bailey told WNBC-TV that he had a courthouse conversation with Engoron three weeks before the judge would slap Trump with a $454 million penalty for fraudulently inflating the value of his assets.

    New York judges are barred from considering outside opinions in such a way when litigating a case, yet Bailey said he discussed the legal questions at length with the judge.

    Judge Engoron’s ruling ordered Trump to pay nearly $355 million, Donald Jr. and Eric to each pay $4 million, and ex-Trump Org chief financial officer Allen Weisselberg to pay $1 million. The order also barred Trump from serving as a corporate officer or a director of a company in New York for three years, and barred his sons for two years. The Trumps did avoid the so-called “corporate death penalty;”

    “I actually had the ability to speak to him three weeks ago,” Bailey said in an interview with the station on Feb. 16, just hours before the judge issued his ruling.

    “I saw him in the corner [at the courthouse], and I told my client, ‘I need to go,’” he recounted.

    “And I walked over, and we started talking … I wanted him to know what I think and why … I really want him to get it right,” the attorney continued.

    He said he “explained to” Engoron that ruling against Trump would have far-reaching implications beyond destroying the former president, including damaging New York’s economy.

    If Trump were forced to pay a hefty fine and shut down his business, it would make other companies concerned about similarly being targeted at any time, even when there were no actual damages or victims, as in this case.

    Trump’s legal team raised the same points, which Engoron ignored in his verdict.

    In a later interview with WNBC, Bailey walked back his claims slightly, saying they “didn’t even mention the word ‘Donald Trump’” during their conversation.

    However, the attorney admitted that it was understood exactly what they were discussing.

    “Well, obviously, we weren’t talking about the Mets,” Bailey said.

    According to the New York State Rules of Judicial Conduct, “a judge shall not initiate, permit, or consider ex parte communications, or consider other communications made to the judge outside the presence of the parties or their lawyers.”

    Al Baker, a spokesman for the state’s Office of Court Administration, denied that the judge had broken those rules.

    “The decision Justice Engoron issued February 16 was his alone, was deeply considered, and was wholly uninfluenced by this individual,” Baker said in a statement, according to WNBC.

    Trump Returns To Twitter – Now X

    By
    Madeleine Jackson
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    0
    Photo via Pixabay images

    Former President Donald Trump’s official X account is back…for now.

    The first ad, posted at 2:54 am, included a voiceover from Ronald Reagan and was captioned, “Are you better off now than you were when I was president? Our economy is shattered. Our border has been erased. We’re a nation in decline. Make the American Dream AFFORDABLE again. Make America SAFE again. Make America GREAT Again!”

    Another ad was published at 3:00 am and read, “They want to silence me because I will never let them silence you. They’re not coming after me, they’re coming after you. I just happen to be standing in their way and I’m never moving. We will Make America Great Again!”

    Musk and Trump will talk live on X at 8 pm ET and Musk has already addressed the technical issues that have plagued past events – including the glitchy of Florida Gov. Ron DeSantis’s (R) presidential campaign last spring.

    “Am going to do some system scaling tests tonight & tomorrow in advance of the conversation,” Musk wrote on X ahead of the event.

    Trump had been banned from Twitter, which Musk bought for a staggering $44 billion and renamed X, after the January 6th attack on the U.S. Capitol.

    Trump has only posted once since Musk restored his Twitter account, @realDonaldTrump, as the former president reserves his social media usage for Truth Social, which he owns. In August of 2023, Trump post his Fulton Country jail mugshot with a link soliciting donations.

    Obama Claims New Yorkers ‘Don’t Take Trump Seriously’

    By
    Madeleine Jackson
    -
    7
    The White House, Public domain, via Wikimedia Commons

    During a podcast interview, former President Barack Obama swiped at Donald Trump claiming the former President is not taken “seriously” in the city he called home for years, New York City.

    Obama appeared alongside Bill Clinton and President Biden in the newest episode of the “SmartLess” podcast. 

    Obama was asked on the “SmartLess” podcast by co-host Jason Bateman whether he was surprised how quickly the “protection and passion for democracy was diluted” in recent years. Obama responded by noting the trend began during former President Clinton’s time in the White House before accelerating during his presidency.

    “I have been surprised that there haven’t been guardrails inside the Republican Party. Trump didn’t surprise me,” he said, before taking aim at Trump.

    “I mean, he comes from New York. There’s nobody in New York who does business with him or lend him money. He’s not considered a serious guy here,” Obama added.

    Obama went on to explain how he thought more Republicans would say some of Trump’s behavior went too far.

    “But, so I was surprised he was elected, but I wasn’t surprised in terms of his behavior. I did expect, and I suspect Bill and Joe, you’d agree with this, that there would be some folks in the Republican Party who would say, no, you can’t go that far. You can’t start praising Putin and saying that his intelligence is better than the US intelligence agencies,” he said.

    Trump is currently on trial in New York for falsifying business records to make alleged hush money payments to porn actress Stormy Daniels.

    Report: Trump Company Seeks To Trademark His Name On Airports

    By
    Madeleine Jackson
    -
    0
    Donald Trump via Gage Skidmore Flickr

    As Florida legislators weigh a proposal to rename Palm Beach International Airport after President Donald J. Trump, a related trademark filing by a company associated with the Trump Organization is drawing national attention — and predictable political reactions.

    Public records show that DTTM Operations, an entity tied to the Trump Organization, filed trademark applications on Feb. 13 for “President Donald J. Trump International Airport” and “Donald J. Trump International Airport.”

    A spokesperson for the Trump Organization said the filings are purely defensive and not intended to generate revenue.

    “To be clear, the President and his family will not receive any royalty, licensing fee, or financial consideration whatsoever from the proposed airport renaming,” spokesperson Kimberly Banza said in a statement. She explained that the trademark applications are meant to prevent “bad actors from infringing upon or misusing the name.”

    The proposal to rename the airport comes as Florida’s GOP-controlled legislature considers honoring Trump, whose Mar-a-Lago residence is located in Palm Beach. Supporters see the move as a fitting recognition of a former and current president with deep ties to the region and a significant political legacy.

    Critics, however, have seized on the trademark filings to raise concerns about potential conflicts of interest. Dylan Hedtler-Gaudette of the nonprofit Project on Government Oversight argued that the situation highlights broader questions about presidential business holdings.

    Trademark attorney Josh Gerben, who first reported on the filings, described the move as unusual, noting that while airports have been named after past presidents, a sitting president’s private company seeking trademark protection in advance appears to be unprecedented.

    Gerben suggested that the filings raise technical legal questions about whether a publicly owned airport would need permission to use the name if it were trademarked — though no such arrangement has been proposed.

    The broader political backdrop is hard to ignore. President Trump has long been a polarizing figure, and even routine legal filings tied to his name tend to generate outsized scrutiny. Supporters argue that trademark protection is standard practice for high-profile public figures and brands, particularly given Trump’s long history as a global business leader.

    The White House has not indicated that the president is personally involved in the legislative effort. Trump has also denied reports that he is seeking to have other major transportation hubs, such as Washington’s Dulles Airport or New York’s Penn Station, renamed in his honor.

    For now, the proposal remains in the hands of Florida lawmakers. Whether the renaming effort moves forward — and whether the trademark filings ultimately matter — will depend on decisions made at the state level.

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    Trump’s Truth Social Merger Deal Hits A Pause

    By
    Madeleine Jackson
    -
    0
    Photo via Gage Skidmore Flickr

    It’s a bad time to be Trump…

    New reports indicate the potential merger deal with the former President’s Truth Social platform is dead in the water.

    The Daily Beast reports:

    The public shell corporation that has been preparing to merge with former President Donald Trump’s technology firm—the parent company of his social media platform, Truth Social—announced Thursday that it was dropping its plans to pursue the merger through a specialized process called a ​​private investment in public equity (PIPE) transaction. The company also said it planned to return $533 million it had raised from investors to complete the deal. The merger between Digital World Acquisition Corp. (DWAC), a special purpose acquisition company, and Trump Media & Technology Group failed to materialize by a September 2022 deadline set by U.S. regulators, giving DWAC the option to back out of the deal. A TMTG spokesperson claimed in a release Thursday that the two companies still planned to merge and said the development was, in fact, a positive step—but declined to comment when pressed by Reuters to say how backing out of the PIPE deal would benefit either party.

    This is a breaking news story. Click refresh for the latest updates.

    Nikki Haley Lands New Gig After Failed Trump Challenge

    By
    Madeleine Jackson
    -
    1
    The White House from Washington, DC, Public domain, via Wikimedia Commons

    Donald Trump’s last Republican rival has landed a fresh new job.

    Nikki Haley the former two-term South Carolina governor who served as ambassador to the United Nations in the Trump administration, is joining the Washington, D.C.-based Hudson Institute.

    “Nikki is a proven, effective leader on both foreign and domestic policy,” Hudson President and CEO John P. Walters said in a statement Monday. “In an era of worldwide political upheaval, she has remained a steadfast defender of freedom and an effective advocate for American security and prosperity. We are honored to have her join the Hudson team.”

    Fox News has more:

    Haley, who received the Hudson Institute’s global leadership award in 2018 during her tenure as U.N. ambassador, will serve as the institute’s Walter P. Stern Chair. According to the Hudson Institute, the position was created four years ago to commemorate a former chair “who was instrumental in making Hudson one of Washington’s most respected research organizations.”

    The institute emphasized that “it is fitting that Nikki has taken on this title” because “she is a courageous and insightful policymaker.”

    Haley announced that she was suspending her White House campaign on March 6, the day Trump swept 14 of 15 GOP nominating contests on Super Tuesday.

    To date, Haley has declined to endorse Trump.

    “It is now up to Donald Trump to earn the votes of those in our party and beyond it who did not support him. And I hope he does that,” Haley said last month, as she pointed to those who supported her during her White House run.

    “This is now his time for choosing,” she emphasized.

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