Trump Social Media Investor Gets Prison for Insider Trading (1)

An investor in the company that took Donald Trump’s social media startup public will serve 22 months for trading on confidential information about the firm’s merger plans before the deal was announced.

Gerald Shvartsman was sentenced by a federal judge in Manhattan on Wednesday for trading on secret details he had learned about Digital World Acquisition Corp. before the Trump deal was revealed in October 2021.

Shvartsman, 47, is one of three investors in Digital World who were charged by federal prosecutors in Manhattan in June 2023 with making more than $22 million through their trading of the company’s ...