Arrests Made in Insider Trading Case Involving Trump Media Merger
Three men, including Michael Shvartsman of Rocket One Capital, have been charged by federal authorities for participating in a scheme to make $22 million in illegal profits by trading ahead of the proposed merger between former President Donald Trump's social media company and a public shell company. The investigation focused on trading in the securities of Digital World Acquisition Group, a special purpose acquisition company. The individuals charged are not connected to Trump or anyone associated with Trump Media & Technology Company. The Securities and Exchange Commission is also investigating the merger discussions and improper trading, which has delayed the completion of the deal.