Russian Investors Allegedly Made Millions Off Insider Trading Scheme Involving Donald Trump’s Media Company

Postolnikov, is the proprietor of a Caribbean financial institution that caters to the porn business and likewise reportedly loaned $8 million to Trump’s media firm. He additionally reportedly owns residences on unique Fisher Island in Miami and is the nephew of a former high-ranking Russian authorities official who at one time was a staffer for Russian President Vladimir Putin, in response to media experiences.

Final month, the insider buying and selling allegations surfaced in a New York securities fraud case introduced final 12 months in opposition to three South Florida males: Michael Shvartsman, 52, of Sunny Isles Seaside; Gerald Shvartsman, 46, of Aventura; and Bruce Garelick, 54, of Fort Lauderdale, the Miami Herald reported. The trio is accused of constructing about $23 million from insider trades on the Trump Media merger with a Miami-based firm, Digital World Acquisition Corp., and sharing private data with their buddies and enterprise associates in regards to the impending deal so they may earn a living, the indictment claims.

Notably, Trump, who’s the Chairman of the media firm, has not been linked or accused of any wrongdoing within the case.

Different courtroom filings within the federal insider buying and selling case counsel that extra expenses might beforth coming however it’s unclear if Postolnikov can be added as a defendant.

Solely time will inform how this pans out.