quote: (post)

Originally posted by Adam_PoE
Truth Social, the right-wing Twitter knock-off created by Donald Trump, has experienced two straight months of decline in unique visitors.

According to Comscore data, Truth Social went from 4.02 million visitors in August to 3.38 million in September and then 2.85 million in October.

According to social media analyst Howard Polskin, "It suggests a decreasing interest in what Trump is saying on his platform."

Who would have thought that people who exist to "own the libs" are dissatisfied with a platform that does not permit "libs" to join? When your sport is cruelty, an echo chamber is boring.

quote: (post)

Originally posted by Adam_PoE
In October 2021, Michael and Gerald Shvartsman made more than $22 million dollars in illegal profits by trading in securities of DWAC based on material, non-public information about DWAC's planned, but not yet public, business combination with Trump Media, a media company founded by Donald J. Trump.

As sophisticated investors, Michael and Gerald Shvartsman were invited to invest in DWAC and another special purpose acquisition company, and after signing non-disclosure agreements, they were provided confidential information about the SPACs, including that a potential target of the SPACs was Trump Media.

As a condition of receiving this information, the defendants were prohibited by the non-disclosure agreements from disclosing the confidential information they learned or using it to buy and sell securities on the open market.

After making initial investments into DWAC through the initial public offering process, through placing their associate on DWAC's board of directors, the defendants continued to learn valuable MNPI about DWAC's plans to merge with Trump Media, such the status of the merger negotiations and the timing of a public merger announcement.

In violation of the non-disclosure agreements that they had signed, and in contravention of their associate's duties and responsibilities as a board member, the defendants bought millions of dollars of DWAC securities on the open market before the news of the Trump Media business combination was public.

The defendants also tipped others about the upcoming merger, inducing further trades in DWAC securities on the basis of the MNPI they had obtained subject to their non-disclosure agreement and through their associate's board seat.

Michael Shvartsman, 53, of Sunny Isles Beach, Florida and Gerald Shvartsman, 46, of Aventura, Florida each pled guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison.

The maximum potential sentence is prescribed by Congress and is provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge. Michael and Gerald Shvartsman are scheduled to be sentenced by Judge Liman on July 17, 2024 at 2:00 p.m. and 3:00 p.m., respectively.


U.S. Attorney Damian Williams: "Michael and Gerald Shvartsman admitted in court that they received confidential, inside information about an upcoming merger between DWAC and Trump Media, and used that information to make profitable—but illegal—open-market trades. Insider trading is cheating—plain and simple—and today's convictions should remind anyone who may be tempted to corrupt the integrity of the stock market that it will earn them a ticket to prison."