Two Florida brothers, Michael and Gerald Shvartsman, pleaded guilty to insider trading charges, admitting to illegally making over $22 million before the public announcement in 2021 that an acquisition firm was taking former President Donald Trump’s media company public.

They acknowledged knowing they were committing a crime when making trades in October 2021 through a New York broker. The indictment did not implicate Trump or his media company. The brothers invested in Digital World Acquisition Corp. after being tipped off about Trump Media being a potential target. They sold their securities for $22 million in profits once the news was public.

The men shared their insider information with friends and employees profiting from the trades. Michael and Gerald Shvartsman are awaiting sentencing and facing federal guidelines recommending four years and three years in prison, respectively, along with significant forfeitures. U.S. Attorney Damian Williams emphasized that insider trading is cheating and that convictions remind us of the consequences of corrupting the stock market’s integrity.

Read the full article at The Associated Press.

Fundraising Drive Appears To Allay GOP Financial Concerns

Donald Trump’s team officials reported that the GOP raised $65.6 million in

March, aiming to address concerns about Joe Biden’s fundraising lead. The Trump campaign and the Republican National Committee (RNC) announced they had $93.1 million on hand at March’s end, trailing Biden’s fundraising pace. Newly appointed RNC Chair Michael Whatley highlighted Trump’s successful fundraising efforts.

The Biden campaign and the Democratic National Committee reported having $155 million after raising $53 million in February, without providing March’s figures, including a significant New York fundraiser. Biden has consistently out-fundraised Trump, partly due to Trump’s legal financial needs. Continue reading “GOP Raises $66 Million For Trump In March”

Frustrated Prosecutors Urge Judge to Clarify Stance

Federal prosecutors have contested the approach of Judge Aileen Cannon in

Former President Donald Trump’s Florida classified documents case specifically opposes potential jury instructions that they see as being based on a misinterpretation of the law. Cannon’s request for jury instructions under scenarios implying Trump could legally retain sensitive documents under the Presidential Records Act has sparked concern. Prosecutors argue the Act, distinguishing between personal and presidential records, is irrelevant in a case involving classified documents, which they assert cannot be considered personal. They stress that no evidence supports Trump’s claim of personal designation for these documents, countering the defense’s narrative.

The prosecutors’ frustration is evident as they await decisions on motions to dismiss and other disputes. The trial date is still unclear, raising concerns the case may linger past the upcoming presidential election. They urge Cannon to clarify her stance on referencing the Presidential Records Act in jury instructions and allow for an appeal if necessary. Meanwhile, Trump faces numerous felony charges for mishandling classified documents in one of four criminal cases against him, as he maintains his innocence.

Read the full article at The Associated Press.