A financial executive was convicted of insider trading related to the acquisition of Trump’s media company. The individual’s co-defendants, admitted to making over $22 million through illegal trades. The accused, while on trial, contended his innocence, claiming he did not possess insider information when purchasing securities in the Digital World Acquisition Corp. (DWAC) which involved Trump Media & Technology Group. During cross-examination, however, he admitted to a statement celebrating a $20 million profit after the public merger announcement. His sentencing is scheduled for September, while his co-defendants will face sentencing in July.

Financial Services, Venture Capital, Media & Communications,United States