The Truth Social stock scam eliminated two investors who pleaded guilty to insider trading.
CNN reported:
Florida venture capitalist Michael Shvartsman and his brother Gerald Shvartsman pleaded guilty Wednesday to participating in an insider trading scheme linked to the blockbuster deal that exposed former President Donald Trump’s social media activity.
The brothers each pleaded guilty in New York to a securities fraud charge, which carries a maximum sentence of 20 years in prison, according to federal prosecutors.
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Everything about Trump’s Truth Social deal had the hallmarks of a scam with various shady players trying to get their hands in the pie and grab some cash.
Anyone who buys shares of Trump Media will likely lose their money. The best thing that could happen to the MAGAs who are investing their money in Trump Media would be if Trump chose to hold on to his shares and not cash out.
As soon as Trump sells, the bottom of the stock will fall, if it doesn’t happen first, because the company is a money pit that produces nothing and won’t even tell investors how many users it has.
The house of cards known as Truth Social is starting to collapse. It’s just a question of how much money Trump can raise before it all falls on everyone else.
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Jason is the managing editor. He is also a member of the White House press pool and a congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His graduate work focused on public policy, with a specialization in social reform movements.
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