Random

    Business

    Home Business

    Trump Media Investor Convicted Of Insider Trading

    By
    Madeleine Jackson
    -
    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.

    Trump Launches New Streaming Platform

    By
    Madeleine Jackson
    -
    0
    Donald Trump via Gage Skidmore Flickr

    Presumptive Republican presidential nominee Donald Trump’s media company announced the launch of a new video streaming platform this week.

    The Daily Caller reported that Trump Media & Technology Group (TMTG), the parent company of social media platform Truth Social, went public after shareholders approved a merger with Digital World of Acquisition Corporation (DWAC) in March. Trump’s media company detailed its plans to roll out its “new live TV streaming platform” in an email announcement.

    “Trump Media & Technology Group Corp. (NASDAQ:DJT) (‘TMTG’ or the ‘Company’), operator of the social media platform Truth Social, announced today that after six months of testing on its Web and iOS platforms, the Company has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network (‘CDN’),” the announcement reads.

    The Daily Caller has more:

    Trump’s streaming platform will be introduced in three phases, the announcement states. First, it will appear on the Truth Social app. Next, the streaming app will become available separately for download on phones, tablets and additional devices. Phase three of its rollout will encompass Trump’s streaming platform becoming available for download as an app on TVs.

    Trump’s streaming service will host content “that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services,” the announcement reads. Genres of content include “news networks, religious channels, [and] family-friendly content including films and documentaries.”

    Trump To Nominate New Commerce Secretary

    By
    Madeleine Jackson
    -
    0
    Donald Trump via Gage Skidmore Flickr

    On Tuesday, President-elect Donald Trump is expected to announce his nomination for Secretary of Commerce: Howard Lutnick.

    Lutnick is the chair and CEO of Cantor Fitzgerald and is also currently serving as co-chair of the Trump transition. He has notably publicly embraced Trump’s tariff plans, which will be a major part of the job leading Commerce.

    The CEO was considered a front-runner to serve as Trump’s Treasury secretary along with Scott Bessent, who served as economic adviser on the Trump campaign.

    Trump just released a statement:

    I am thrilled to announce that Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, will join my Administration as the United States Secretary of Commerce. He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.

    In his role as Co-Chair of the Trump-Vance Transition Team, Howard has created the most sophisticated process and system to assist us in creating the greatest Administration America has ever seen.

    Lutnick beat out Linda McMahon for the role leading Commerce who was considered a front runner and previously led the Small Business Administration during Trump’s first term.

    McMahon is also a co-chair of his transition effort.

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

    Senators Call On SEC To Open Investigation Into Trump For Insider Trading

    By
    Madeleine Jackson
    -
    5

    Democrats are getting desperate…

    Senate Minority Leader Chuck Schumer (D-NY) and Sen. Elizabeth Warren (D-MA) sent a letter to the Securities and Exchange Commission (SEC) this week asking for an investigation into President Donald Trump’s social media posts urging stock market purchases ahead of his tariff pause announcement

    “We ask the SEC to determine whether President Trump, any members of his cabinet, or other donors, insiders, and administration officials engaged in insider trading, market manipulation or other securities laws violations on April 9, 2025, when President Trump announced that it was a ‘GREAT TIME TO BUY’ into the stock market,” the senators wrote in a scathing letter.

    Sens. Adam Schiff (D-CA), Ron Wyden (D-OR), Mark Kelly (D-AZ), and Ruben Gallego (D-AZ) also signed the letter, which slammed Trump for urging his social media followers to buy stocks “just hours before he announced a 90-day pause on his recently announced tariffs, leading to a historic market rally after days of dramatic market declines.”

    “THIS IS A GREAT TIME TO BUY!!!” Trump wrote on Truth Social at 9:37 am just ahead of his announcement that he would pause additional tariff increases on 75 countries for 90 days while slapping even higher levies on China.

    The letter was addressed to SEC Commissioner Paul Atkins, a Trump appointee, who was confirmed by the Senate on Thursday.

    “It is unclear which officials and affiliates for President Trump had advance knowledge of his plans to delay tariffs — but insiders may have known that he was going to announce a tariff pause and that the market would improve,” argued the Senators.

    Billionaire Makes Massive Political Contribution To Trump

    By
    admin
    -
    1
    Image via Pixabay free images

    One of the largest single disclosed gifts ever…

    A reclusive billionaire from a storied American family with a legacy dating back to the Gilded Age has made one of the largest political contributions in the history of American politics.

    Timothy Mellon, heir to the Mellon banking fortune, made a $50 million contribution to the pro-Trump super PAC, Make America Great Again Inc.

    At the end of April, the organization had only $34.5 million.

    In a memo following Mellon’s donation, the PAC announced it had reserved $100 million in advertising through Labor Day.

    The New York Times continues:

    Mr. Mellon is now the first donor to give $100 million in disclosed federal contributions in this year’s election. He was already the single largest contributor to super PACs supporting both Mr. Trump and Robert F. Kennedy Jr., who is running as an independent. Mr. Mellon has previously given $25 million to both.

    Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

    Democrats have sought to portray Mr. Kennedy as a spoiler supported by Republicans, in part by emphasizing Mr. Mellon’s dual contributions and seemingly split loyalties. The pro-Kennedy super PAC has distributed quotations from the hard-to-reach Mr. Mellon, and for a blurb that appears on the cover of Mr. Mellon’s upcoming book, Mr. Kennedy called the billionaire a “maverick entrepreneur.”

    It is not clear what Mr. Mellon’s mega-donation means for his support of Mr. Kennedy going forward. He has so far toggled between giving to support both candidates. His most recent donation to Mr. Kennedy’s super PAC was a $5 million contribution in April.

    But Mr. Mellon’s $50 million gift will significantly help pro-Trump forces narrow the financial advantage that President Biden and his allies have enjoyed so far. Miriam Adelson, the casino billionaire and widow of Sheldon G. Adelson, who died in 2021, has also made plans to fund a pro-Trump super PAC with at least as much money as the $90 million that her family gave in the 2020 campaign, although much of the cash has yet to arrive.

    Mellon’s contributions follow Donald Trump‘s conviction in a hush money trial.

    Critics argue that the case is politically motivated and based on an overly broad interpretation of campaign finance laws. They add that such payments are common among public figures seeking to avoid public scrutiny.

    The Mellon family‘s wealth started when an Irish immigrant named Thomas Mellon founded T. Mellon & Sons’ Bank in Pittsburgh in 1869. His sons, Andrew W. Mellon and Richard B. Mellon, later grew the bank into a strong financial institution. This bank eventually became Mellon Financial Corporation, one of the largest banking institutions in the United States.

    During the late 19th and early 20th centuries, Andrew Mellon played a crucial role in financing and supporting key industries such as aluminum, oil, and steel, contributing to the growth of major corporations, such as Gulf Oil, and Union Steel. As secretary of the Treasury from 1921 to 1932, his influence shaped the economic policies of the 1920s, known as the Mellon Plan, which contributed to the economic boom of the decade.

    National Photo Company Collection, Public domain, via Wikimedia Commons

    In 2007, Mellon Financial Corporation merged with The Bank of New York to form BNY Mellon, one of the world’s largest asset management and securities services companies, preserving their 150-year legacy in banking and finance.

    Article Published With The Permission of American Liberty News

    Trump Files To Overturn Latest Conviction After SCOTUS Ruling

    By
    Madeleine Jackson
    -
    1
    Gavel via Wikimedia Commons Image

    On Monday, former President Donald Trump moved to overturn his criminal conviction in the Manhattan hush-money case after the Supreme Court ruled presidents have immunity for “official acts” committed while in office.

    Manhattan District Attorney Alvin Bragg charged the former president in May with 34 counts of falsifying business records in the first degree. Trump pleaded not guilty to all counts in the Manhattan case.  

    Lawyers for Trump had filed a motion to dismiss the verdict hours after the Supreme Court’s ruling. 

    Duncan Lock, Dflock, CC BY-SA 3.0 via Wikimedia Commons

    The motion came on the same day that the district attorney’s office sent sentencing recommendations to Judge Juan M. Merchan – who presided over the Manhattan trial – though it remains unclear whether that will be seen by the public, per reporting from The New York Times.  
    Judge Merchan has received a letter from Trump’s lawyers, a person familiar with the matter confirmed to Fox News Digital. 

    The letter asks for permission to file a motion to vacate the jury’s Manhattan verdict, asks for a delay of the July 11 sentencing, and cites the high court’s decision in arguing that evidence was included at trial that should not have been admitted. 

    To file a motion in New York, defendants must first request permission from the judge in the case. 

    On Tuesday, Manhattan prosecutors agreed with Donald J. Trump’s request to postpone his criminal sentencing so that the judge overseeing the case could weigh whether a recent U.S. Supreme Court ruling might impact his conviction, according to The New York Times.

    On Monday, the Supreme Court ruled 6-3 that a former president has absolute immunity for his core constitutional powers.

    Former presidents are also entitled to at least a presumption of immunity for their official acts. There is no immunity, the court holds, for unofficial acts.

    The Supreme Court returned the case to the trial court to determine what is left of special counsel Jack Smith’s indictment against the former President.

    I AM DONALD TRUMP, AND I’M BEING SENTENCED ON JULY 11TH! IF YOU REMEMBER ONE THING, REMEMBER THIS: I’M THE ONLY THING STANDING IN THE WAY OF THE COMPLETE AND TOTAL DESTRUCTION OF AMERICA BY THE BIDEN REGIME. WILL YOU PLEASE DONATE ONE MORE TIME BEFORE DOOMSDAY?

    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.

    RNC Chair Lara Trump Releases New Single

    By
    Madeleine Jackson
    -
    1
    Image via gage Skidmore Flickr

    The Trump family is full of talents.

    On Thursday night, RNC chair Lara Trump released her second single and teased the release of several more songs coming soon.

    According to Mediaite, Trump—who made headlines with her 2023 cover of Tom Petty’s “I Won’t Back Down”—spontaneously dropped yet another single, “Anything is Possible,” at midnight on Thursday evening.

    “A little something I had fun with over the winter,” wrote Trump in a social media post announcing the song. “And a few more too that I’ll save for a future date, special for my YUGE fans in the liberal media [winky face emoji].”

    In the uplifting single about faith, which is currently available to stream on Spotify and Apple Music, Trump sings, “I’ve had my ups and downs, cried when no one’s around. Still I gotta put my game face on, even when I’m not feeling strong. No matter how it seems, I wouldn’t trade a thing, ’cause all of it makes me who I am.”

    She continues in the chorus, “Don’t think, just jump, you can’t give up. Know that anything is possible. Have faith, believe, just trust, you’ll see, anything is possible.”

    It is unclear whether Trump currently has an album in the works or whether she has just produced a collection of singles.

    Earlier this month, Trump was elected to serve as co-chair of the Republican National Committee following Ronna McDaniel’s exit.

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

    By
    Madeleine Jackson
    -
    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.

    The Democrat Shutdown is nothing more than a political scheme to hold America hostage. JD Vance is calling Schumer to END THE SHUTDOWN. [CO-SIGN THE MEMO HERE]

    Airbnb Co-Founder Opens Up About Leaving Democrat Party to Support Trump

    By
    Madeleine Jackson
    -
    0
    President Donald Trump participates in a welcome ceremony with Saudi Crown Prince Mohammed Bin Salman Al Saud at the Royal Court Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (Official White House Photo by Daniel Torok)

    Earlier this week, Airbnb co-founder Joe Gebbia opened up about why he decided to leave the Democrat Party to support President Donald Trump.

    During an interview with former White House official Katie Miller – the wife of White House Deputy Chief of Staff Stephen Miller – Gebbia revealed how he became drawn to the Republican Party through Secretary of Health Robert F. Kennedy Jr. and the crisis at the southern border.

    “At what point did you know in the last election that you were like, ‘I wanna help President Trump’? Was it Bobby Kennedy and your love for MAHA? Like, what was it?” asked Miller on The Katie Miller Podcast.

    Gebbia responded, “I’ve been on my journey. Everyone’s been on a journey, and I think through, you know, certainly Bobby Kennedy and supporting him, and I’ve been so grateful for the work that he’s doing, to be somebody who just cares so much about the health of our nation, and you know, has no ties to industry and is really just able to bust through walls and sort of, like, right size the ship.”

    The Airbnb co-founder revealed that he “grew up in an alternative medicine, health food household,” which made him gravitate towards Kennedy when he ran for president on a “Make America Healthy Again” platform.

    Watch:

    However, Gebbia told Miller it was the crisis at the southern border that ultimately made him lose faith in the Democratic Party and become a Republican.

    “I think it was early 2021, mid-2021, the activity at the border caught my attention, and I just remember thinking, ‘What’s going on with this topic? It seems as if there’s no border,’” he said. “And as it got worse that year, I felt like I needed to understand this problem more, so I reached out to my friends, largely on the Democratic side of the house, at all levels, from the highest level all the way down.”

    Gebbia said that while he received “some answers” from friends in the Democratic Party, he ultimately “felt unfulfilled,” and so decided to talk to former Trump senior adviser Jared Kushner about the issue:

    I get on the phone with Jared and say, “Hey, can you help me? Fill in the gaps for me. Like, what am I missing here? Is this normal? Like, seems there’s no enforcement of our own border. Like, don’t nations need borders to be a nation?” And so he put me on this curriculum of just talking to experts in the field, and I remember just being like holy cow, this is crazy. Like, this is not right. This is a real problem and there’s no reason why we shouldn’t be enforcing the laws of our country and our border. And so I think, as I started to pull on that thread, I sort of, you know, begin to look at other topics and eventually came to the point where I don’t think I can support a political party that wants to have an open border, that lets in criminals and dangerous people into our country. That’s just not something I can get behind.

    The most effective way to support State Republicans is to stand tall for America FIRST — renew your MAGA pledge today!
    123Page 1 of 3
    © Great America News Desk 2022