Trial begins for financial executive in insider trading case tied to taking Trump media firm public

Published April 30, 2024 3:00 pm

By LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — An insider trading trial has begun for a financial executive charged with enabling his boss and others to make millions of dollars illegally on news that an acquisition firm was taking former President Donald Trump’s media company public. In an opening statement, Assistant U.S. Attorney Elizabeth Hanft on Tuesday accused Bruce Garelick of tipping off his boss and friends to news that the special purpose acquisition company, Digital World Acquisition Corp., was merging with Trump Media & Technology Group. His lawyer, though, insisted that Garelick was innocent and did not commit insider trading.

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