Legal
Trump SPAC Investor Convicted in Insider-Trading Case
- Bruce Garelick faced fraud and conspiracy charges at NY trial
- Case involves deal for Trump media firm that led to windfall
Bruce Garelick leaves federal court in New York, on July 20, 2023.
Photographer: John Minchillo/AP PhotoAn investor in the blank-check company that took Donald Trump’s social media startup public was found guilty in an insider-trading case.
A federal jury in New York on Thursday convicted Bruce Garelick of conspiracy and securities fraud for trading on secret information after learning about Digital World Acquisition Corp.’s plans to acquire Trump Media & Technology Group Corp. Two of his co-defendants pleaded guilty before the trial began.