A stock scam called Truth Social resulted in the arrest of two investors who pleaded guilty to insider trading.
Florida venture capitalists Michael Schwartzman and his brother Gerald Schwartzman were found guilty Wednesday of participating in an insider trading scheme related to the blockbuster deal that exposed former President Donald Trump's social media business. Admitted.
The brothers each pleaded guilty in New York to one count of securities fraud, which carries a maximum sentence of 20 years in prison, according to federal prosecutors.
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All of President Trump's „Truth Social“ transactions had the hallmarks of fraud with various shady players trying to get their hands on the pie and grab the cash.
Anyone who buys Trump Media stock will likely lose money. The best that could happen for the MAGAs who are pouring money into Trump Media would be if Trump chooses to hold on to the stock without cashing it out.
As soon as Trump sells, the bottom will fall out of stocks if it's not sooner. Because the company is a money pit that produces nothing and doesn't even tell investors how many users it has. .
The tower on the sand known as Truth Social is beginning to crumble. The question is how much cash Trump will spend before it all falls on everyone else.
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Jason is the editor-in-chief. He is a White House correspondent and Congressional Correspondent for PoliticusUSA. Jason holds a bachelor's degree in political science. His graduate work focused on public policy and specialized in social reform movements.
Awards and professional membership
Member of the Society of Professional Journalists and the American Political Science Association