Trump Media investor Bruce Garelick convicted of insider trading

A financial executive was convicted Thursday of enabling his boss and others to make over $22 million illegally by trading off his tips ahead of the public announcement that an acquisition firm was taking former President Donald Trump’s media company public.

An agitated Bruce Garelick dropped his head and repeatedly wiped his face with his hands after a jury convicted him of all charges in Manhattan federal court.

Garelick, who had testified in his defense, was convicted of tipping others in 2021 to news that the special purpose acquisition company, Digital World Acquisition Corp., or DWAC, was merging with Trump Media & Technology Group. Garelick sat on DWAC’s board.

Source: Trump Media investor Bruce Garelick convicted of insider trading