Shvartsman Brothers to Change Pleas in Insider Trading Case Linked to Trump Media Merger
Michael and Gerald Shvartsman, initially pleading not guilty, are set to change their pleas in a high-profile insider trading case involving Trump Media's public listing.
- Michael Shvartsman and his brother Gerald, implicated in an insider trading scheme tied to Trump Media's merger, signal a shift towards guilty pleas.
- The change of plea hearings for the Shvartsman brothers are scheduled for Wednesday, indicating a possible admission of guilt.
- Alan Futerfas, known for representing Donald Trump and his company, joins Michael Shvartsman's defense team.
- The insider trading case, stemming from the merger that took Trump Media public, accuses the Shvartsmans and Bruce Garelick of making over $22 million in illegal profits.
- Trump Media, now trading under the DJT ticker on Nasdaq, clarifies that the indicted individuals have no affiliation with the company.
CNBC 