NEW YORK (Reuters) – U.S. prosecutors on Thursday charged three men with insider trading in connection with a special-purpose acquisition company seeking to merge with a media and technology company founded by former U.S. President Donald Trump.
Michael Shvartsman, Gerald Shvartsman and Bruce Garelick allegedly made more than $22 million trading in Digital World Acquisition Corp based on tips about its forthcoming combination with Trump Media & Technology Group, prosecutors said.
Neither Trump nor his company was charged.
(Reporting by Jonathan Stempel in New York)
