SPAC: Insider Traders Charged

By Staff Reporters

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Three charged with insider trading related to Trump’s SPAC deal

The DOJ arrested three Florida investors, alleging they made more than $22 million in illegal profits through trading stock in the SPAC that took former President Trump’s social media company public.

The men are accused of trading shares in Digital World Acquisition Corporation based on nonpublic knowledge and making bank in October 2021 when news it planned to acquire Truth Social made its stock soar. Neither the former president nor his family members are implicated.

SPAC: https://medicalexecutivepost.com/2022/06/13/spac-v-direct-listing-v-ipo/

SPACs: https://medicalexecutivepost.com/2022/09/21/spac-popularity-soaring-in-healthcare/

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