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Trump Media Investor Convicted Of Insider Trading

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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.

‘Shark Tank’ Host Vows To ‘Never Invest’ In ‘Loser State’ New York Following Trump Ruling

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Gage Skidmore Flickr

Kevin O’Leary, co-host of the TV show “Shark Tank” and a successful investor in his own right, stated in a Monday interview with Fox News host Neil Cavuto that he will never invest in New York after a judge ordered Donald Trump to pay over $350 million in penalties in a civil fraud case.

“I’m not different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all. There’s no rationale for it,” O’Leary told Cavuto.

From Mediaite:

In his New York fraud case, Trump was ordered by Judge Arthur Engoron to pay more than $350 million, and the former president was also barred from doing business in New York for three years. Trump was accused of fraud through past valuations of his properties that were inflated and used to get more beneficial agreements in a civil lawsuit filed by New York Attorney General Letitia James.

O’Leary called Trump’s actions a victimless crime and said other companies are now going to be even more fearful to conduct business in New York, which the Canadian-born O’Leary called a “loser state.”

“It doesn’t matter what the governor says, New York was already a loser state. Like California‘s a loser state. There are many loser states because of policy, high taxes, uncompetitive regulation, it was already on the top of the list of being a loser state. I would never invest in New York now, and I’m not the only person saying that,” he said.

O’Leary, long a vocal critic of New York’s policies for business, described running into massive amounts of red tape while trying to set up a “high end data center” in New York and he’s now abandoning the state for “winner states,” like the Oklahoma, North Dakota, and West Virginia.

“The fine people of New York should ask themselves, why are we such a loser state? How are we going attract business?” O’Leary continued. “It’s not just the existing businesses that are fleeing out to Texas and Florida. What about new money like what I’m talking about?”

“This is a New York problem now,” the businessman, investor and philanthropist concluded.

This article originally appeared on American Liberty News. Republished with permission.

RNC Chair Lara Trump Releases New Single

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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.

Report: Trump Set To Become One Of World’s Most Wealthy People

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Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News.

The Daily Caller has more:

Trump, the presumptive Republican presidential nominee, established the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his removal from Twitter after the events of Jan. 6, 2021, with the new website “Truth Social” being unveiled in 2022. On Monday, TMTG completed a merging process with DWAC, a special-purpose acquisition corporation, that would allow the company to be publicly traded on the National Association of Securities Dealers Automated Quotations stock exchange, also known as the “Nasdaq” exchange, with Trump’s 58% stake in the company being valued at $3.9 billion, according to Bloomberg News. 

The share price of DWAC increased by 35.22% to close at $49.95 on Monday when the closing of the deal was announced, with the new company retaining the TMTG name and changing its stock ticker to Trump’s initials, “DJT.” The process will increase Trump’s net worth to $6.4 billion, according to Bloomberg.

Trump’s net worth, which until recently has primarily comprised real property of The Trump Organization, has been subject to varying estimates. The Australian Financial Review estimated his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion as of Monday — making him the 1,265th richest person in the world — with its highest-ever estimate for his net worth being $4.5 billion in 2016.

Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the largest number of followers. He often announces major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.

Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading

New Accusations Released About Member of Trump’s Family and Inner Circle

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[Photo Cred: Office of the President of the United States, Public domain, via Wikimedia Commons]

Former Trump adviser Peter Navarro recently made some potentially damaging accusations about Jared Kushner, former President Trump’s son-in-law and longtime White House adviser.

As reported by Mediaite, Navarro recently bashed Kushner about his portrayal of several dramatic actions he allegedly took while working at the White House.

“Appearing on Newsmax, Navarro addressed Kushner’s claim in his recently-published book that he was treated for thyroid cancer while serving in the White House.

Host Chris Salcedo flagged the excerpt from the book and stated Kushner “withheld a cancer diagnosis during tense negotiations with communist China.

Navarro addressed Kushner’s book.

“It’s fiction,” he continued. “And the thyroid thing, that came out of nowhere. I saw the guy every day. There’s no sign that he was in any pain or danger or whatever. I think it’s just sympathy to try to sell his book now.”

Salcedo asked if Kushner is “worthy” of Trump’s trust.

“No,” Navarro replied. “Time after time, whether it’s mismanagement of the campaign, mismanagement of the pandemic, taking too much credit for NAFTA, taking too much credit for the Abraham Accords. I mean, the guy was just a one-man wrecking crew, 36 years old I think when he got in there with no training. His only qualification was that he was the boss’s son-in-law.”

Notably, Navarro is dealing with a few of his own issues at the moment. A few days ago he was sued by President Biden’s Justice Department for refusing to hand over emails from his personal accounts which were used to conduct official White House business. Earlier this summer, he was criminally charged for ignoring a subpoena from the Jan. 6 Committee.

Amanda Head: Debt Deal Is A Disaster!

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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.

Trump Urges Governors to Embrace AI Data Centers as Public Opposition Grows

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President Donald J. Trump visits the El Arepazo Doral restaurant, Monday, March 9, 2026, in Miami, Florida. (Official White House Photo by Daniel Torok)

President Donald Trump is urging governors and mayors to welcome artificial intelligence data centers into their communities, arguing that the enormous facilities will generate jobs, tax revenue and technological breakthroughs even as Americans increasingly express concerns about their impact on electricity, water and the environment.

Speaking during a White House meeting with technology and cryptocurrency industry leaders, Trump argued that communities rejecting data-center projects risk being left behind as the United States races to expand its AI infrastructure.

“If I were the mayor of a town or the governor of a state, and I had a chance to get a big plant in an AI plant or a data center, I would absolutely want it because the jobs are enormous, and the money paid, the taxes paid are just enormous,” Trump said.

“And if you don’t take it, you’re going to be left behind because there are plenty of places that want it,” he added.

“Many of them are designed in a very beautiful way,” he said. “It’s really very positive.”

Americans Aren’t So Sure

Trump acknowledged that the rapidly expanding industry may need “a little public relations help,” and polling suggests he has a point.

A Gallup poll released in May found a majority of Americans opposed construction of data centers in their own communities. Among the major concerns are the facilities’ substantial electricity and water requirements, as well as their potential environmental effects.

The electricity issue has become particularly contentious as the AI boom accelerates. Data centers require enormous quantities of power to operate servers and cooling systems, raising questions about whether their expansion could strain electrical grids or ultimately increase utility costs for ordinary consumers.

The Trump administration has attempted to manage that backlash by encouraging technology companies and data-center developers to secure additional sources of electricity rather than simply adding their enormous demand to existing grids.

Trump has also backed efforts to speed construction. An executive order issued in July 2025 called for accelerating federal permitting for qualifying data-center infrastructure.

The president argued Wednesday that communities should weigh those concerns against the economic benefits the projects can bring.

Trump Points to Jobs and Medical Breakthroughs

Asked what he would tell Americans who remain skeptical about AI, Trump again emphasized employment while making a broader case for the technology’s potential.

“I think it’s going to create a lot of jobs. It’s going to create success. It’s going to create tremendous innovation medically,” Trump said.

He referenced an unspecified medical development he had recently reviewed involving a “pretty unstoppable disease.”

“All of a sudden they’re coming up with answers that they never thought were possible,” Trump said.

AI is already being explored for uses ranging from drug discovery and medical imaging to disease detection and personalized treatment, making health care one of the areas frequently cited by the industry’s proponents when arguing that the enormous investments in computing infrastructure could produce benefits beyond the technology sector.

Trump Wants Regulation Without ‘Stifling’ AI

The administration is simultaneously confronting another question: how aggressively Washington should regulate a technology Trump believes could become even more consequential than the internet.

“We’re leading by a lot with AI. We want to keep it that way,” Trump said. “We want to regulate, but we want to have regulation where they can continue to lead, not regulation that’s going to stifle a very important industry.”

Trump has made winning the global AI race a significant economic and national-security priority of his second administration.

On his second day back in office in January 2025, Trump appeared alongside technology executives to announce Stargate, a private-sector venture with plans to invest as much as $500 billion in American AI infrastructure.

Its flagship data-center complex in Abilene, Texas, has since become partially operational, while additional projects have been pursued around the country.

But the scale of the buildout has also transformed data centers from an obscure piece of digital infrastructure into a local political issue. Communities that once competed enthusiastically for major corporate investments are increasingly weighing promised construction jobs and tax revenues against higher electricity demand, water consumption, land use and potential effects on utility bills.

READ NEXT: Biden Weaponizing Artificial Intelligence (AI) to be ‘Woke’

Nikki Haley Lands New Gig After Failed Trump Challenge

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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.

MyPillow CEO Mike Lindell Sued For $800,000

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Mike Lindell via Gage Skidmore Flickr

Ouch…

Shipping and logistics company DHL sued Mike Lindell’s MyPillow this week over an alleged shipping debt of nearly $800,000.

In the lawsuit filed in Minneapolis on Monday, DHL alleged Lindell’s company violated a previous lawsuit settlement from May 2023 which required MyPillow to pay off its $775,000 debt to DHL in 24 monthly installments.

According to the lawsuit, MyPillow only partially paid off the required installments, paying DHL $64,583.34, with the last installment in June.

DHL reportedly threatened to sue MyPillow in July and, after several months of no success, finally filed its lawsuit in court this week.

DHL is now seeking $799,925.59 from MyPillow, along with attorney fees and an 18% annual interest.

Gavel via Wikimedia Commons Image

Lindell who has been a vocal and active supporter of former President Donald Trump has been embroiled in a number of lawsuits over the past few years, including defamation lawsuits from Dominion Voting Systems and Smartmatic over his allegations that the 2020 election was rigged.

In February, Lindell was ordered to pay $5 million to a man after he lost his own “Prove Mike Wrong” challenge.

In March, MyPillow was evicted from a warehouse in Minnesota for allegedly being $200,000 behind on rent.

Family of Isaac Hayes Sues Trump Over Playing Hit Song

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Gage Skidmore Flickr

The family of late soul singer Isaac Hayes is suing former President Donald Trump for using the icon’s music at his rallies, Isaac Hayes III announced last week.

 The filing accused the former president and the Republican Nation Committee of “willfully and brazenly” engaging in 134 counts of copyright infringement.

A letter to Trump and his campaign from the Georgia-based law firm Walker & Associates reads:

Our firm has been retained by the family and Isaac Hayes Enterprises, who own the copyright to the musical composition and recording “Hold On (I’m Coming)” (the “Song”). It has come to our attention that you or the campaign have authorized the illegal public performance of the Song on multiple occasions during various rallies for your political campaign without authorization from the copyright holder, despite being asked repeatedly not to engage in such illegal use by our client.

Upon information and belief, you, your campaign, and/or the RNC and other parties have willfully and brazenly engaged in copyright infringement in violation of several provisions of Title 17 U.S.C., including § 501, of the Copyright Act of 1976, as amended, over one hundred times. We have attached for your convenience a non-exhaustive list attached hereto as Exhibit A. As we prepared this letter, there was an additional use in Montana just two nights ago, even with your office apparently aware that you had no permission. We and the family hereby demand that you cease the continual infringement of our copyright and stop all unauthorized use of the Song.

The suit further demands Trump pay $3 million, stop using the song, and to remove any campaign multimedia of the song being played at rallies. Hayes’ estate also demanded Trump issue a statement acknowledging he played the song without permission.