Feds reportedly eye possible insider trading on Trump Media deal
A $300 million fundraising deal between Trump Media and a special purpose acquisition company, or SPAC, was announced last October. But months prior,reported Monday, an “obscure” investment firm in Miami knew about the merger, with top executives allegedly plotting ways to profit off the knowledge.
A feeding frenzy on the SPAC’s securities in the days before the deal went public is now being looked at by federal investigators as part ofinto the relationship between the SPAC, Digital World Acquisition Corp., and Trump Media. Rocket One has fewer than 10 employees, one of whom—its chief strategy officer, Bruce Garelick—sat on the board of Digital World until his recent resignation.
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