
SEC announces settlement with merger partner of Trump’s Truth Social app
The Securities and Exchange Commission announced that it had settled fraud charges with the financial firm tied to former president Donald Trump’s Truth Social platform, Street Insider reported. The SEC had accused Digital World Acquisition Corporation (DWAC), a special purpose acquisition company, of making material misrepresentations in forms it filed with the SEC as part of its initial public offering and its proposed merger with Trump Media & Technology Group Corp (TMTG), which Mr Trump founded. DWAC had misled both the SEC and investors when it failed to disclose that it had formulated a plan to acquire and was pursuing the acquisition of TMTG. Special purpose acquisition companies are meant to identify and acquire operating businesses. But the SEC said in the forms DWAC filed to support its IPO in September 2021, neither it nor its officers had said it had discussions with any target companies before its IPO. But the SEC’s order found that the person who would become DWAC’s chief executive and board chairman, along with other people, had extensive special purpose acquisition company meetings with Mr Trump’s company, and that the executive had pursued talks with TMTG for another special purpose acquisition company he created. In turn, the SEC called DWAC’s Form S-1 false and misleading. “DWAC failed to disclose its discussions with TMTG and failed to disclose a material conflict of interest of its CEO and Chairman,” Gurbir S Grewal, the director of the SEC’s enforcement division. “In the context of a SPAC – a ‘blank-check’ entity without business operations – these disclosure failures are particularly problematic because investors focus on factors such as the SPAC’s management team and potential merger targets when making financial decisions.” The SEC said that DWAC violated antifraud provisons of security laws. It had previously announced that it would pay an $18m settlement in the event it closes a merger transaction and it would sign a cease and desist order. Last month, federal authorities arrested Michael Shvartsman, Gerald Shvartsman and Bruce Garelick and the three were named in an unsealed federal indictment. The all pleaded not guilty to insider dealing at a court in New York City this month. Read More Truth Social’s merger partner reaches $18m settlement with SEC
2023-07-21 06:29

The ever-evolving debate over women playing sports
The World Cup that kicked off this week in Australia and New Zealand is a time to rejoice in the dominance of American women in international sports.
2023-07-21 06:29

Fleetwood among British Open leaders. McIlroy among the survivors.
The British Open can still deliver a surprise or two
2023-07-21 06:29

Who is Aaliyah Bell? Police probe Rex Heuermann's connection to missing 18-year-old woman's case in South Carolina
Aaliyah Bell was reported missing from her home in Rock Hill two days before Thanksgivin in 2014
2023-07-21 06:24

Blinken to visit Tonga, New Zealand, Australia July 24-29 -State Dept
WASHINGTON (Reuters) -U.S. Secretary of State Antony Blinken will travel to Tonga, New Zealand and Australia next week to discuss
2023-07-21 06:23

Trump, Biden campaigns spar over support of UAW workers, EV mandates
By David Shepardson WASHINGTON Donald Trump on Thursday urged the United Auto Workers union to back his campaign,
2023-07-21 06:21

Ukraine ambassador to UK grilled by Kyiv after criticising Zelensky in Amazon row
Ukraine’s ambassador in London has caused deep consternation in Kyiv after publicly criticising Volodymyr Zelensky’s conduct in a row with British defence secretary Ben Wallace, according to diplomatic sources. Vadym Prystaiko, who has been a key point of contact for the British government during the Ukraine war, accused Mr Zelensky of “unhealthy sarcasm” in his response to Mr Wallace saying Kyiv should not view the UK and Western allies as an “Amazon” delivery service. The Independent has been told that there were subsequently “very strong” telephone conversations between Mr Prystaiko and the government in Kyiv. There are also reports his remarks have been picked up by Russian media and presented, with words twisted, to show major splits between Ukraine and its Western allies at a time Mr Zelensky’s government is carrying out a major counteroffensive to reclaim occupied territory. Speaking at the Nato summit in Vilnius, the British defence secretary had said people expected Ukraine to show more gratitude for the huge help being given by allies. In a mocking response, Mr Zelensky said: “How else can we show our gratitude? We can wake up in the morning and thank the minister. Let him write to me and tell me how to thank him.” Mr Prystaiko responded on Sky News: “President Zelensky saying ‘each and every morning we’ll wake up and call Ben Wallace to thank him’ – I don’t think that kind of sarcasm is healthy. I don’t think we need to show the Russians there is something between us. We’re working together, Ben can call me and tell me anything he wants to.” It remains unclear what disciplinary measures Mr Prystaiko would face from his government. The decision is likely to be made by foreign minister Dmitry Kuleba, who was said to be in New York meeting UN officials earlier this week. Some senior Ukrainian officials accept that the ambassador – a veteran diplomat who had served in the past as his country’s foreign minister – was trying to soothe relations with the UK, but also point out that Moscow was always going to exploit such remarks. Ukrainian officials are regularly targeted by Russian trolls, with Mr Prystaiko himself having been a victim in the past. He gave an interview to Newsweek earlier this year in which he talked about heavy civilian losses due to Russian shelling, which was turned by a Russian website into “colossal losses by the Ukrainian army” with the invented phrase “people were dying in the interest of the West”. It is not just in Ukraine that the “Amazon” controversy lingers on. Some allies of Mr Wallace, who is due to step down from his post and leave politics altogether in the next election, feel that Rishi Sunak should have stood up more for the defence secretary. Asked about Mr Wallace’s remarks, the prime minister said that President Zelensky “had expressed his gratitude for what we’ve done on a number of occasions”. He added: “People across Ukraine are also fighting for their lives and freedom every single day and they’re paying a terrible price for it so I completely understand Volodymyr’s desire to do everything he can to protect his people and to stop this war.” Mr Wallace was not, however, the only Western official to raise the issue of Ukrainian gratitude at the Nato summit. The US’s national security advisor held that “the American people do deserve a degree of gratitude” after being questioned about US resolve. Ukrainian foreign minister Mr Kuleba, in his own response to Wallace’s comments, said: “I apologise, but we are at war. “Colleagues, ministers and foreign journalists often ask me if we are getting enough weapons. I tell them that as long as we are on the way to victory, we will not have enough weapons. When we win, we will say: Thank you, we had enough weapons. But as long as the struggle continues, we will not have enough”. The UK has been involved in training the Ukrainian military since the separatist wars seven years ago. Since Vladimir Putin’s invasion, Kyiv has been supplied with NLAW, Brimstone and Starstreak missiles as well as Challenger tanks. Read More The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary Varadkar pledges unwavering solidarity with Ukraine on day-long visit to Kyiv Leo Varadkar meets Ukrainian actor in Kyiv after Dublin assault Varadkar to stress morale boost EU accession could offer to Ukraine’s soldiers
2023-07-21 06:17

Paul Bernardo: Canadian serial killer to remain in lower security prison
The move to shift Paul Bernardo to a lower-security prison sparked outrage in Canada.
2023-07-21 06:16

Former Trump State Department official convicted for attacking police during Capitol riot
A man who worked as a politically appointed State Department official in former President Donald Trump’s administration has been convicted of charges that he attacked police officers during the Capitol riot on Jan. 6, 2021
2023-07-21 05:58

Austin Riley hits 3-run homer as Atlanta Braves beat Arizona Diamondbacks 7-5
ATLANTA (AP) — Austin Riley hit a three-run homer off Miguel Castro in the eighth inning, and the major league-leading Atlanta Braves stopped a four-game skid with a 7-5 victory over the Arizona Diamondbacks on Thursday.
2023-07-21 05:53

Marketmind: Fragile Friday as big tech finally falters
By Jamie McGeever A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
2023-07-21 05:52

Trump shares threatening video as midnight deadline to appear before Jan 6 grand jury closes in - live
Donald Trump could be indicted by a grand jury investigating his efforts to overturn the 2020 election and the January 6 Capitol riot by Friday. The Independent learned that a possible indictment could be handed down as soon as this week, charging the former president in his third criminal case. Mr Trump announced on Tuesday that he had been sent a letter by special prosecutor Jack Smith informing him that he is the “target” of a grand jury investigation. The target letter cites three statutes under which he could be charged including conspiracy to commit offence or to defraud the United States, deprivation of rights under colour of law and tampering with a witness, victim or informant, multiple outlets reported. William Russell, a former White House aide who now works for the Trump presidential campaign and spent much of January 6 with the then-president, is believed to have testified before the grand jury on Thursday. The former president was given until today to report to the Washington, DC, federal courthouse but with a midnight deadline is not expected to appear. Instead, he shared a fan video on Truth Social with a threatening mob boss feel using audio featuring an expletive and lifted from comments he made in 2020 on Iran. Read More Donald Trump brands US a ‘third-world hellhole’ run by ‘perverts’ and ‘thugs’ Ron DeSantis campaign fires staff as Florida governor trails Trump in the polls Fundraising takeaways: Trump and DeSantis in their own tier as Pence and other Republicans struggle RFK Jr revives antisemitic conspiracy theory that Covid-19 was ‘ethnically targeted’ to spare Jewish people
2023-07-21 05:52