In a significant development related to the Trump Media Special Purpose Acquisition Company (SPAC) insider trading case, key defendants have signaled their intentions to change their pleas, potentially to guilty. Michael Shvartsman, identified as the lead defendant, is scheduled for a change of plea proceeding. This follows reports that an early investor in the company that took former US President Donald Trump's media business public has pleaded guilty to a federal insider trading charge in Manhattan. Gerald Shvartsman, one of three investors charged in the case, entered his guilty plea at a hearing. The case has attracted widespread media coverage, highlighting the legal challenges facing individuals connected to the business ventures of the former president.