Financial Executive Convicted in Insider Trading Linked to Trump Media Merger

Bruce Garelick found guilty of illegal trading ahead of Trump Media’s public listing, highlighting broader issues of market manipulation.

Bruce Garelick, a director at Digital World Acquisition Corp., was convicted of insider trading, enabling over $22 million in illegal profits.
Garelick and co-defendants, the Shvartsman brothers, exploited non-public information about the merger with Trump Media.
The guilty verdicts were delivered by a federal jury in New York, with sentencing for Garelick scheduled for September 12.
Former President Donald Trump and Trump Media & Technology Group were not implicated in the insider trading case.
The case underscores ongoing concerns about insider trading and market integrity in high-profile mergers.