"Guilty Pleas in Trump Media Insider Trading Case Linked to Truth Social Platform"
Two brothers pleaded guilty to securities fraud for insider trading related to the acquisition of Trump Media & Technology Group by Digital World Acquisition Corp, the parent company of Truth Social. They face a maximum prison sentence of 20 years and are set to be sentenced in July. The brothers profited over $22 million from the scheme, with one using $14 million to buy a yacht. A third man is also charged and set to go on trial. The indictment does not allege any involvement by Donald Trump. Meanwhile, Trump Media is suing its cofounders, and its shares tumbled after reporting a net loss, causing the former president's net worth to drop by over $1 billion.