Apparently Donald Trump isn’t the only one having trouble with the truth.
about Trump’s pledge not to return to Twitter as proof of its viability. The Nasdaq threatened to remove the company from its exchange in March.
It currently trades at a little under $13 a share, only a little more than it sold for when the indicted investors first bought in. What made the alleged insider trading by the venture capitalists in the case especially galling, according to the SEC, is that Garelick sat on board of directors at DWAC, which was created for the sole purpose of merging with Trump’s social media enterprise. The three were privy to the merger plan before the rest of the investment world, and allegedly seized the opportunity to acquire hundreds of thousands of stakes before its official announcement, allowing them to cash in afterward.
“This case demonstrates the Commission’s ongoing commitment to exposing insider trading wherever it occurs,” Gurbir Grewal, director of the SEC’s Division of Enforcement, said in a press release.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Feds charge three with illegal trading ahead of Trump Media merger announcementMichael Shvartsman, Gerald Shvartsman, and Bruce Garelick allegedly 'made more than $22 million dollars in illegal profits.
Read more »
Three charged with insider trading tied to merger with Donald Trump’s Truth Social parent companyMichael Shvartsman, Gerald Shvartsman and Bruce Garelick allegedly made more than $22 million trading in Digital World Acquisition based on tips about its planned combination with Trump Media &…
Read more »
Three charged with insider trading on Donald Trump’s Truth Social dealA board member of the SPAC that merged with Trump’s media company is accused of giving insider info to friends, earning them $22.9 million in illegal profits.
Read more »
2024 Kia EV9 Is the Family-Size EVThe electric SUV boasts three rows, three powertrains, and up to 300 miles on a charge.
Read more »
Sen. Kennedy calls out intelligence failures before January 6th: 'Start telling the truth'Sen. John Kennedy, R-La., discussed a new Senate committee report on the January 6th riot and the intelligence failures by federal agencies.
Read more »
Feds award Colorado $826 million for broadband investmentColorado’s goal of 99% access to high-speed internet will get an $826 million boost from the federal bipartisan infrastructure law, officials announced Monday.
Read more »