Key Points
(Bloomberg) -- One of the three investors charged with insider trading in connection with the listing vehicle that took Donald Trumps media company public intends to change his not-guilty plea in the case less than a month before a federal court trial is set to begin..
Theyre accused of making more than $22 million trading ahead on confidential information about potential targets of the SPAC, including Trump Media & Technology Group Corp. ..
The three men were invited to invest in Digital World Acquisition and another SPAC, and they signed nondisclosure agreements that gave them access to confidential information about potential targets of the company, including Trump Media, according to the government..
Digital World announced an agreement to merge with Trump Media in October 2021, sending the shares soaring and handing the three men millions of dollars in profit from trades they made beforehand, according to prosecutors..
Shares of Trumps media company debuted last week after the deal with Digital World closed, providing a much-needed cash infusion following years of delays..
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