A Russian-American businessman based in Miami, Anton Postolnikov, is suspected of making nearly $23 million from alleged insider trading involving former President Donald Trump’s media company, Trump Media and Technology Group, according to federal court records reported by The Miami Herald.
Postolnikov, who owns a Caribbean bank catering to the porn industry and has reportedly loaned $8 million to Trump’s media company, is under scrutiny for his financial transactions surrounding the merger of Trump Media with Digital World Acquisition Corp. The businessman, residing in Miami’s exclusive Fisher Island, is also the nephew of a former high-ranking Russian government official who once worked for President Vladimir Putin.
The allegations are part of a larger securities fraud case against three South Florida men: Michael Shvartsman, Gerald Shvartsman, and Bruce Garelick. They are accused of making significant profits from insider trades on the Trump Media merger and sharing non-public information to benefit financially. Trump, the chairman of Trump Media, owns a substantial stake in the company but has not been implicated in the case.
The new lawsuit against Postolnikov adds complexity to the legal situation surrounding the 41-year-old businessman. FBI search warrant applications indicate an investigation into his relationships with the defendants and his stock trades before and after the merger announcement. Postolnikov’s attorney, Douglas Jensen, has not commented on the matter.
The ongoing federal insider trading case hints at possible additional charges, though it remains uncertain if Postolnikov will be implicated. Michael Shvartsman, for instance, is expected to face money laundering charges related to hiding profits from his insider trades.
The case also sheds light on the ongoing challenges faced by Trump Media, including regulatory scrutiny and financial struggles. Despite recent stock price surges, Truth Social, the company’s social media platform, continues to compete with larger rivals.
Postolnikov’s connections extend beyond the alleged insider trading. His Caribbean bank, Paxum Bank, reportedly facilitated loans to Trump Media and has been a payment processor for adult websites. Additionally, Postolnikov holds significant real estate investments in Miami and has ties to various financial entities with controversial backgrounds.
The allegations against Postolnikov underscore the intricate web of financial and political connections surrounding Trump Media, raising questions about the broader implications for the former president’s business ventures.