An insider trading trial has begun for a financial executive charged with enabling his boss and others to make millions of dollars illegally on news that an acquisition firm was taking former President Donald Trump's media company public. In an opening statement, Assistant U.S.
FILE - Pedestrians walk past the Nasdaq building as the stock price of Trump Media & Technology Group Corp. is displayed on screens, March 26, 2024, in New York. A Delaware judge on Tuesday, April 30, granted a request by attorneys for Donald Trump and Trump Media & Technology Group, parent company of his Truth Social platform, to slow down a lawsuit filed by two cofounders of the company.
“He did not commit any crime. Bruce is an honest and ethnical man,” Bach told the jury in Manhattan federal court. Michael Shvartsman owned Rocket One Capital LLC, a venture capital firm, and Garelick, of Providence, Rhode Island, was the company’s chief investment officer, though he has primarily worked in the Boston area throughout his career.
“He followed the rules,” Bach said. “Bruce was not part of the same social circles as everybody else who was part of this case. ... He was nobody’s close friend or buddy.”
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