Two
Insider
Traders on
Trump Media
SPAC Pled now
Garelick on
Trial Talks
Smithereens
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
April 30 – As the third of
four insider trading
prosecutions announced on June
29, 2023 by the US Attorney
for the Southern District of
New York, Michael Shvartsman,
Gerald Shvartsman, and Bruce
Garelick were charged with
making more than $22 million
dollars in illegal profits by
trading in securities of
Digital World Acquisition
Corporation based on MNPI
about DWAC’s planned but not
yet public business
combination with a media
company founded by former
President Donald J.
Trump.
On July 5, the
case was assigned - wheeled
out - to Judge Lewis J. Liman.
Inner City Press
was there on July 20 and live
tweeted, thread
On December 29 as
part of omnibus pre-trial
motions Shvartsman filed
copies of DHS reports of
investigation, including audio
recordings of Shvartsman
saying he would open an LLC in
Belize which would buy
assets... and ultimately
provided funding for the
'Truth Social' media platform.
It also names the agents who
brought the arrested
defendants to the Wilke D.
Ferguson Jr. Federal
Courthouse and the Marshals...
Late on March 15
Shvartsman through counsel
wrote to Judge Liman alleging
that the US used a Lawyer
Informant to record him.
Counsel identified the Zoom
account used: John [at]
lighthousetrust [dot]
ch. A Google search of
that shows a Lighthouse Trust
General Counsel named John
Ivsan at Linhart Seuss Ivsan
LLP
More on X for
Subscribers here
& Substack here
On April 29, jury
selection began but did not
end, by 6 pm. Of 34
prospective jurors in the
courtroom at 5 pm, each was
summoned into the robing room
for questioning, seemingly
with the defendant present.
Three were excused at 6 pm and
the rest told to return, but
not to read anything about the
case.
Then this request
to start anew: "during today’s
voir dire one prospective
juror openly reported in front
of the venire that she learned
from the news that “[t]here
are two people pleading
guilty” in connection with
this case. Upon the Court’s
request to speak up, the juror
again stated—adding
detail—that “[t]here are two
people pleading guilty and
[Mr. Garelick] is the third
person.” Voir dire continued
over Mr. Garelick’s
objection." Letter on Patreon
here.
On April 30,
after Judge Liman dismissed
some but not all of the
venire, the trial began. At
day's end one of Garelick's
lawyers, pushed for a proffer
of the defense says, named
three other possible tippee,
one of whom he said would be
in "smithereens" on the
witness stand, on May 1.
Watch this site.
This case
is US v. Shvartsman, et al.,
23-cr-307 (Liman)
***
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