Trump-SPAC Insider Trading Sends Second Brother to Prison (1)

A scheme to make millions of dollars on a deal to take Donald Trump’s social media startup public ended badly for a pair of Florida brothers, with both sentenced to prison for insider trading.

Michael Shvartsman, 53, was ordered on Thursday to spend 28 months behind bars by US District Judge Lewis Liman, a day after the judge gave his younger brother Gerald 22 months for his role in the conspiracy. Liman also imposed a $1 million fine.

The brothers were charged by federal prosecutors in Manhattan in June 2023 with making more than $22 million through their ...