BlackRock affiliate under SEC investigation for shorting DJT stock before Trump assassination

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Odaily2024/07/21 10:12

By:Odaily

Odaily News Austin Private Wealth, an affiliate of BlackRock, shorted 12 million shares of Trump Media Technology Group (DJT.O) the day before Trump was assassinated, and was subsequently investigated by the SEC. Austin Private Wealth manages about $1 billion in assets, and its major shareholders include well-known investors such as BlackRock and Vanguard. The coincidence of the short-selling time has aroused market suspicion of insider trading. If the attempt to assassinate Trump succeeds, the stock price of Trump Media Technology Group (DJT) will fall sharply. Austin Private Wealth can make huge profits, estimated to be between $696 billion and $1 trillion. However, the company said that the transaction was a registration error and it had no intention of profiting from the tragedy. Austin Private Wealth explained that the short-selling order was placed incorrectly due to a technical malfunction in the trading system. The transaction was made on June 28, made public on July 12, and then corrected after the error was discovered on July 16. It is reported that the SEC is reviewing Austin Private Wealths internal communications and trading records to determine whether there is any misconduct. If evidence of illegal activity is uncovered, the investigation could result in severe penalties. (decripto)

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