Two plead guilty to insider trading related to Trump Media merger

Two men pleaded guilty on Wednesday to insider trading in securities in the company that ultimately took former U.S. President Donald Trump's media business public.

Michael Shvartsman, 53, head of Miami-based venture capital firm Rocket One Capital, and his brother Gerald Shvartsman, 46, each pleaded guilty to one count of securities fraud before U.S. District Judge Lewis Liman in Manhattan.

Rocket One's chief investment officer, Bruce Garelick, is scheduled to face trial on related charges on April 29.

 

Prosecutors charged the trio last year with illegally trading on inside information about Trump Media & Technology Group's (TMTG) (DJT.O), opens new tab plan to go public through a merger with a blank-check company. TMTG operates Truth Social, Trump's main social media platform.

Prosecutors said the trio signed confidentiality agreements in June 2021 when they were approached to become early investors in Digital World Acquisition, the blank-check company. The agreements required them to keep information they learned confidential and not trade the company's securities in the open market, prosecutors said.

 

https://www.reuters.com/business/media-telecom/investor-company-that-took-trump-media-public-pleads-guilty-insider-trading-2024-04-03/

21 hours ago, Danderman123 said:

 Pension funds look for stable stocks, not stocks diving to zero.

If you were current which you tend to lag behind... there are plenty of pension plans that will be broke by 2028... just google "bad investing by pension plans"... it is going to be worse than 2008 when so many funds went belly up... https://www.cnn.com › 2022 › 07 › 14 › investing › pensions-markets-unfunded › index.html

41 minutes ago, Skipalongcassidy said:

If you were current which you tend to lag behind... there are plenty of pension plans that will be broke by 2028... just google "bad investing by pension plans"... it is going to be worse than 2008 when so many funds went belly up... https://www.cnn.com › 2022 › 07 › 14 › investing › pensions-markets-unfunded › index.html

Strike when the iron is hot skipalong buy buy buy that trump stock!!!!show him you really care lol 😂 and give him access to your bank acc so he can garnish your money at will 😆 what’s to lose he’s a winner 🥇 you can trust him!!!

4 minutes ago, Tug said:

Strike when the iron is hot skipalong buy buy buy that trump stock!!!!show him you really care lol 😂 and give him access to your bank acc so he can garnish your money at will 😆 what’s to lose he’s a winner 🥇 you can trust him!!!

You're really ill... I hope that you find help soon... are you a bot?

22 minutes ago, Skipalongcassidy said:

You're really ill... I hope that you find help soon... are you a bot?

Naaa I’m not a bot just an American concerned for his country that’s why I call stuff out and vote

6 minutes ago, Tug said:

Naaa I’m not a bot just an American concerned for his country that’s why I call stuff out and vote

How does it feel to know that my vote cancels you out completely???  555

2 hours ago, Skipalongcassidy said:

If you were current which you tend to lag behind... there are plenty of pension plans that will be broke by 2028... just google "bad investing by pension plans"... it is going to be worse than 2008 when so many funds went belly up... https://www.cnn.com › 2022 › 07 › 14 › investing › pensions-markets-unfunded › index.html

The article refers to a market dip in 2022 that reduced solvency of some pension funds. Now that is just a distant nightmare.

 

The point is that no rational pension fund manager would have invested in Trump's pump and dump, which was just another way to scam Trump fans. I hope you didn't lose too much money.

1 hour ago, Skipalongcassidy said:

How does it feel to know that my vote cancels you out completely???  555

No problem. I volunteer to register new voters, which cancels you out 100x.

Trump and dump.

 

https://truthsocial.com/@realDonaldTrump/posts/112212592075307788

 

https://truthsocial.com/@realDonaldTrump/posts/112212684659611251

 

Trump defends Truth Social as media company’s skeptics grow, stock price whipsaws

 

Donald Trump on Thursday defended his social media platform Truth Social as a growing chorus of critics — and short sellers — view its parent company as a meme stock with a vastly overinflated share price.

 

Trump, in two lengthy posts on Truth Social, accused the platform’s detractors of being “Radical Left Democrats” who are trying to convince others “that TRUTH is not such a big deal and doesn’t ‘get the word out’ as well as various others, which they know to be false.”

 

“I THINK TRUTH IS AMAZING!” Trump wrote, echoing a statement earlier this week from Devin Nunes, CEO of the app’s parent company, Trump Media & Technology Group
, that it has “no debt and over $200 million in the bank.”

 

 

https://www.cnbc.com/2024/04/04/trump-defends-truth-social-from-critics-as-media-stock-whipsaws.html

 

 

 

So what's the big deal? 

 

The tech space is full of startups that were valued in the $billions while they were still losing money.  Some of them for years, if not decades.

 

This is only news because it's Trump and it's an election year.

 

20 minutes ago, impulse said:

So what's the big deal? 

 

 

Who said there is a "big deal"? I mean other than you.

 

Just another day in trumpWorld.

3 hours ago, Skipalongcassidy said:

How does it feel to know that my vote cancels you out completely???  555

You don't know that.... only true if you happen to be registered voters in the same state.... ever read Constitution? Electoral college mean anything?

10 minutes ago, Emdog said:

You don't know that.... only true if you happen to be registered voters in the same state.... ever read Constitution? Electoral college mean anything?

 

So it could be even worse if Skipalong votes in a swing state and ol' Tug doesn't?

 

 

1 hour ago, impulse said:

So what's the big deal? 

 

The tech space is full of startups that were valued in the $billions while they were still losing money.  Some of them for years, if not decades.

 

This is only news because it's Trump and it's an election year.

 

These other startups you speak of typically have some new innovative ideas with tremendous growth potential.

Trump's Media is not innovative (it's a cheap Twitter knockoff, afterall) with a declining user base. 

 

But nevermind all that, invest in DJT if you must.

1 hour ago, impulse said:

So what's the big deal? 

 

The tech space is full of startups that were valued in the $billions while they were still losing money.  Some of them for years, if not decades.

 

This is only news because it's Trump and it's an election year.

 

"The tech space"

 

UNFAIR ! SAD ! DERANGED !

 

LOL

 

Cash Crunch donny touted it, put cow farmer Devin Nunes in charge, and waited for his goobers to pile in. And waited. And waited.

 

9 million members. It would seem everybody who actually wanted to join has joined. It's like Y2K and the Comet Kahoutek rolled into one....a fart in the wind.

 

Twitter's 350 members are only valued at about $120 apiece. Do that to TS and it's a $9 stock.

 

But wait! There's more!

 

Advertisers are pretty good at assessing the demographics of a social media company. They know that the typical goober earns below average income and has rather plebian tastes. Who is going to advertise? Chewing tobacco? Debt workout companies? Spam? Maybe somebody could sell Dogs Playing Poker pictures for the trailer wall, or Tigers Painted on Black Velvet.

 

TS is not Amazon. It isn't even TikTok. More likely it's Pets.com. Or trump steaks/water/airline/travel agency/university/Taj Mahal.....

 

And this time there's no daddy Fred to come in and buy $3.4 million in chips or co-sign donny's loans or leave $412,000,000 in inheritance.

 

$4 million in revenue, or 44 cents per member. And to achieve that woeful sum, CEO Nunes ran up $58 million in costs.

 

TS has already seen it's best day.

4 hours ago, Skipalongcassidy said:

How does it feel to know that my vote cancels you out completely???  555

Why skipalong that’s your rite (if you are an American) that is lol 😂 and do forget to buy that stock!!!

1 hour ago, Walker88 said:

Advertisers are pretty good at assessing the demographics of a social media company. They know that the typical goober earns below average income and has rather plebian tastes. Who is going to advertise? Chewing tobacco? Debt workout companies? Spam? Maybe somebody could sell Dogs Playing Poker pictures for the trailer wall, or Tigers Painted on Black Velvet.

 

 

Funny.  I've got some more likely advertisers for TS.....mobile home parks, penis enlargement drugs, gun racks for pickup trucks, obesity drugs, confederate flag license plate holders....oh, and of course, Mike Lindell's entire line of pillows and bedding.  

As of yesterday, the price was -33% compared to the introduction price.

20 hours ago, Danderman123 said:

 I volunteer to register new voters, 

Which cemetery do you register them at.???

17 hours ago, candide said:

As of yesterday, the price was -33% compared to the introduction price.

That's the trend... 

ABC host shocked at visual demonstration of grocery price hikes over last four years: 'Wow'

'Good Morning America' noted shoppers are getting 30% less now for their money.

Save your money to buy up the soon to appear naked pics of melania and ivanka  offered up by the king of conmen, the tsar of grifters,  the emperor of idiots...add them to a collection of supermen trading cards, $500 shoes (to be received in 5 months after ordering) and a few tdozen trump special bibles autographed by trump ,jesus ,moses and include a free ride in noahs arc...and maybe even a special commerative share of truth social stock.

 

After all trump does love uneducated people and uneducated low iq people love him right back.  MAGA

21 hours ago, impulse said:

 

So it could be even worse if Skipalong votes in a swing state and ol' Tug doesn't?

 

 

I will be registering new voters in a swing state.

1 hour ago, pomchop said:

Save your money to buy up the soon to appear naked pics of melania and ivanka  offered up by the king of conmen, the tsar of grifters,  the emperor of idiots...add them to a collection of supermen trading cards, $500 shoes (to be received in 5 months after ordering) and a few tdozen trump special bibles autographed by trump ,jesus ,moses and include a free ride in noahs arc...and maybe even a special commerative share of truth social stock.

 

After all trump does love uneducated people and uneducated low iq people love him right back.  MAGA

You forgot one be sure to allow trump unfettered access to your bank accounts lmao 🤣 

1 hour ago, Skipalongcassidy said:

That's the trend... 

ABC host shocked at visual demonstration of grocery price hikes over last four years: 'Wow'

'Good Morning America' noted shoppers are getting 30% less now for their money.

If you blew your money on Truth Social stock, I am sorry for your loss.

 

How many Trump fans got conned again? Last month, it was golden sneakers, now it's stock. One grift after another.

45 minutes ago, Danderman123 said:

I will be registering new voters in a swing state.

 

Good luck finding new voters that can be counted on to vote Biden.  It's a crapshoot now. 

 

https://aseannow.com/topic/1323947-democrats-spar-over-registration-as-worries-over-young-and-minority-voters-grow/

 

Peruse the right wing rags for juicier details...  Not approved sources, but pretty amusing.

 

21 minutes ago, Danderman123 said:

If you blew your money on Truth Social stock, I am sorry for your loss.

 

Looking backwards, had Musk not bought Twitter, Truth Social would have been the #1 outlet for free speech.  And worth a mint.

 

Looking forward, if the Dems' dirty tricks take a toll on Musk and X, it still may end up be the #1 going forward.  And worth a mint.

 

8 minutes ago, impulse said:

 

Looking backwards, had Musk not bought Twitter, Truth Social would have been the #1 outlet for free speech.  And worth a mint.

 

Looking forward, if the Dems' dirty tricks take a toll on Musk and X, it still may end up be the #1 going forward.  And worth a mint.

 

I wonder if Warren Buffet has spotted this golden opportunity?

 

You could make money selling such investment insights.

 

 

15 minutes ago, impulse said:

 

Looking backwards, had Musk not bought Twitter, Truth Social would have been the #1 outlet for free speech.  And worth a mint.

 

Looking forward, if the Dems' dirty tricks take a toll on Musk and X, it still may end up be the #1 going forward.  And worth a mint.

 

There is something called "Threads" which you seem unaware of.

Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'

 

Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'

 

The Trump fans here cannot imagine that their Dear Leader would be scamming his followers. They must believe that somehow Truth Social exists to own the Libs, not scam Trump fans.

1 hour ago, Chomper Higgot said:

I wonder if Warren Buffet has spotted this golden opportunity?

 

You could make money selling such investment insights.

 

Even if he had, it wouldn't fit his risk profile.  He'd rather have a decent return on a sure thing than bet on a huge return with a high risk.