3 charged in insider trading case related to taking Trump media firm public, accused of making $22M

By LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — Three Florida men have been charged with making $22 million illegally by insider trading ahead of the public announcement that an acquisition firm was going to take a media company owned by ex-President Donald Trump public. The charges were outlined Thursday in papers unsealed in federal court in New York and do not implicate Trump in any way. The court papers say the men were invited to invest in Digital World Acquisition Corp. and were provided confidential information about DWAC and another special purpose acquisition company, Benessere Capital Acquisition Corp. According to court papers, the men were told a potential target of the acquisition companies was Trump Media & Technology Group, which owns Truth Social.