A Miami investor convicted of insider trading tied to the deal that took Trump Media public put $425,000 into a flattering Donald Trump documentary months after entering his guilty plea. The studio behind the film now alleges that he did so hoping to secure a presidential pardon.
Michael Shvartsman’s company, High Risk Commerce, provided the loan to Global Ascension Studios on Aug. 22, 2024, as the studio worked on The Man You Don’t Know. According to a lawsuit filed in Los Angeles, Shvartsman later disclosed his alleged clemency objective during the film’s Mar-a-Lago premiere.
The complaint goes beyond the alleged pardon effort. Global Ascension and its president, Joshua Macciello, accuse Shvartsman and the other defendants of demanding repayment months before it was due, seeking control and financial information from the company and using threats to pressure Macciello into changing the arrangement.
Shvartsman denies the allegations. He told the Los Angeles Times that he disputes every factual claim in the lawsuit and intends to address the dispute through the courts, including with a countersuit.
The Loan Came Four Months After Shvartsman’s Guilty Plea
High Risk Commerce entered the $425,000 loan agreement with Global Ascension on Aug. 22, 2024. According to the complaint, the studio was required to repay $531,250 by Aug. 20, 2025, and Shvartsman and High Risk also received a back-end interest in the documentary.
By then, Shvartsman had already admitted his role in the federal insider-trading case. The Justice Department announced in April 2024 that Michael and his brother, Gerald Shvartsman, each pleaded guilty to one count of securities fraud.
Prosecutors said the brothers obtained confidential information about Digital World Acquisition Corp.’s planned merger with Trump Media & Technology Group after signing nondisclosure agreements. They then traded DWAC securities before the merger was announced and tipped other people who also traded.
The brothers generated more than $22 million in illegal profits between them. Michael Shvartsman’s share was approximately $18.2 million. On Oct. 17, 2024, a federal judge sentenced him to 28 months in prison and imposed a $1 million fine.
The Documentary Presented Trump Through His Family and Allies
Directed by Christopher Martini, The Man You Don’t Know presented Trump through interviews with members of his family, friends and political allies. Participants included Donald Trump Jr., Eric Trump, Lara Trump, Kai Trump, Kimberly Guilfoyle, Hulk Hogan and Frank Stallone.
The film’s own promotional material described its aim as showing Trump as a father, grandfather, man of faith and generous friend rather than concentrating on his political persona. It opened in theaters on Oct. 25, 2024, less than two weeks before the presidential election.
Global Ascension had expected a broader theatrical footprint. Producer Arthur Sarkissian later told Deadline that some theaters declined to book the documentary for political reasons, limiting its commercial reach.
The Lawsuit Says Shvartsman Revealed His Pardon Goal at Mar-a-Lago
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Trump attended the documentary’s Mar-a-Lago premiere along with members of his family and other figures associated with the film and his political circle.
The lawsuit alleges that during the event, Shvartsman told Macciello and another person that his criminal case was the reason he had supplied the money. According to the complaint, he said he was hoping his participation in the project would enable him to obtain a pardon.
The studio also alleges that Shvartsman and associates arranged meetings with its contacts and people connected to the documentary while at Mar-a-Lago.
The Studio Says New Demands Began Immediately After the Premiere
According to the complaint, the defendants began demanding repayment and additional control immediately after the Mar-a-Lago event, even though the loan was not scheduled to mature until August 2025.
Global Ascension alleges that the demands included company operating agreements, bank records, an ownership interest in the studio and its future projects, and accelerated repayment of the loan. The plaintiffs further allege that the pressure involved threats to Macciello’s physical safety, reputation and business.
Macciello subsequently agreed to modify aspects of the arrangement, according to the lawsuit. He now argues that those concessions were obtained through duress and should not be enforceable.
The complaint names Shvartsman, High Risk Commerce, Salt Money and Michael G. Park as defendants and asserts 10 causes of action, including breach of contract, fraud, interference with contractual and prospective business relationships, civil conspiracy and civil extortion.
Shvartsman Denies the Claims and Did Not Receive a Pardon
“We are not going to litigate this matter through the press,” Shvartsman told the Los Angeles Times. He said the relevant facts and documents would instead be presented through the legal process. The lawsuit’s claims have not been adjudicated, and Shvartsman says he intends to countersue.
Shvartsman entered federal custody in January 2025 and remained there until May 29, 2026, according to Bureau of Prisons records reviewed by the Los Angeles Times. He did not receive a presidential pardon.