Prosecutors had accused Garelick of using information he obtained through his seat on the board of Digital World Acquisition Corporation to tip off two Florida brothers about the upcoming SPAC merger.
May 09, 2024 at 05:40 PM
3 minute read
Bruce Garelick, a former board member of the company that embarked on a proposed SPAC merger with former President Donald Trump’s media company in 2021, was found guilty Thursday of securities fraud and conspiracy to commit securities fraud in connection with a $22 million insider trading scheme.
Garelick’s attorneys at Shapiro Arato Bach did not immediately respond to requests for comment on the verdict.
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