Rocci Stucci Media

Feds Charge Investors in Truth Social with Insider Trading

The Securities and Exchange Commission has recently indicted three investors involved in taking former President Donald Trump’s Twitter alternative, Truth Social, public.

The trio—brothers Michael and Gerald Shvartsman and Bruce Garelick who worked for Michael Shvartsman—are accused of rolling up $23 million in October 2021 due to their non-public intel about the corporate maneuvers, violating confidentiality agreements and insider trading rules in the process.

The New York Times reported that the brothers have retained attorneys Grant Smith and Robert Buschel, most famous for representing Roger Stone, a political trickster who has long served as a formal and informal adviser to Trump.

While Trump himself is not accused of any wrongdoing, it is clear that Garelick was privy to merger plans before the rest of the investment world – which allowed him to acquire hundreds of thousands of stakes before its official announcement; allowing them to cash in afterward.

Gurbir Grewal from the SEC’s Division of Enforcement stated that: “This case demonstrates the Commission’s ongoing commitment to exposing insider trading wherever it occurs.”

However despite this strong statement against such illegal activities – Truth Social still trades at a little under $13 a share only slightly more than when these indicted investors first bought in.

The Nasdaq threatened to remove Digital World Acquisition Corporation (the company responsible for turning Truth Social into a hot tech stock) from its exchange back in March due to its securities struggling to attract interest from potential buyers.

In an attempt to prove its viability, they cited Fox News reports about Trump’s pledge not to return to Twitter – yet this failed to find success with potential customers.

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10 Responses

    1. I would think it’s going to be very hard to prove what someone actually knew something, or is it a case of the probability he would have known, unless the Democrats have gained the powers to have the ability to read minds, to me it’s just a case once again, of throwing as much mud as they can, then sitting back and waiting to see what will stick. Remember the number of inditements against DT, this it’s a simple case of stacking the odds in your faver, at the moment it’s running at 30+ to one, in the Democrats favour. Where is the investigation into all the senators and congress members, into their insider tradings. It’s time they started looking closer to home. But we all know that will never happen!

    1. The worst enemy is the one living among us camouflaged as a friend!

      Pay attention at the way so called conservative reporters write about Trump…

  1. You wrote, “Roger Stone, a political trickster who has long served as a formal and informal adviser to Trump”. Mr. Stucci, Why would you write such a thing? Are you really a Trump ally? Are you even a conservative? If you recall, the corrupt pieces of shit FBI and DOJ, raided Roger Stone’s home in the early morning, NAZI style, with guns drawn and bright lights blinding Stone and family. I think you meant to say “Biden and family, Christopher Wray and Merrick Garland as the political tricksters and criminals. Roger Stone is an angel in comparison. I need a retraction from you or I will delete you.

  2. these people had better start charging the demon dems,, I am sick to death of them concerning President Trump, telling lies, lies, and more lies

  3. How about they really do their job and go after EVERY member of Congress and the Senate that has become wealthy after being elected to office. This is just more “Get Trump” BS and I for one am getting sick of it.

  4. Insider Trading???? Right out of Pelosi’s play book. But again double standards. Bet Martha Stewart wishes she was a democrat!!!

  5. What is clear is that the securities and exchange commission is just as corrupted as the FBI, CIA, DOJ and all of the rest of the deep state unelected bureaucrats with TDS. They are all in to stop Trump from returning to power.

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