Brothers Sentenced for Insider Trading

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US Politics

Prosecutors seek years in prison for Trump Media insider trading Shvartsman brothers

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79% Informative

Prosecutors want Florida venture capitalist Michael Shvartsman to be sentenced next Thursday to between 46 months and 57 months in prison.

They want his brother Gerald Shvartman , who made more than $18 million in illicit trading profits, sentenced to at least two years in prison for his illegal trading, which earned him $4.6 million .

Both men pleaded guilty in April in the case, which involved their purchase and sale of securities of Digital World Acquisition Corp. The brothers received non-public information from Bruce Garelick about Trump Media's merger with DWAC .

Prosecutors want Gerald Shvartsman to be sentenced to one year and a day in prison.

His lawyers say he invoked his Fifth Amendment right against self-incrimination.

They say he has the ability to pay a fine.

Prosecutors say he is "the least culpable" of three defendants in the case.

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semi-formal

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English

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