A financial firm linked to Donald Trump’s Truth Social platform has reached an $18m settlement with the Securities and Exchange Commission (SEC) in order to bring an end to the investigation into its merger with the company. Digital World Acquisition Corp (DWAC) announced the tentative settlement on Monday, saying that the payment would “remove the cloud of uncertainty lingering over DWAC and would allow DWAC to move forward in achieving its objective of delivering a strategic merger”. The SEC had been looking into whether DWAC held talks with Truth Social’s parent company before going public, which would be a violation of certain antifraud provisions of the Securities Act and the Exchange Act. The settlement means once DWAC has paid the civil penalty it can move forward with the merger, which would see Truth Social become a public company. News of the settlement comes after three people involved in the merger were indicted for insider trading last week. Michael Shvartsman, Gerald Shvartsman and Bruce Garelick were named in a federal indictment unsealed last Thursday (29 June) in Manhattan federal court. All three were charged with trading in securities of Digital World Acquisition Corporation (DWAC) based on non-public information about the company’s planned business combination with Trump Media & Technology Group — founded by former president Mr Trump — the parent company of social media platform Truth Social. They were arrested on Thursday morning in Florida. In 2021, the three investors were invited to invest in DWAC and another SPAC. After signing non-disclosure agreements, they were provided with confidential information, including the planned deal with Trump Media. They were prohibited from using this knowledge in the open market. According to the indictment, after making initial investments into DWAC through the initial public offering process, Mr Garelick was given a seat on the board of directors, which gave him access to valuable non-public information about the planned merger. He provided these updates to his co-conspirators, calling it “intelligence”. The defendants bought millions of dollars of DWAC securities on the open market before the news of the Trump Media business combination was public. In addition to their own purchases, they also passed the information to their friends on a trip to Las Vegas, to Michael Shvartsman’s neighbours, and to Gerald Shvartsman’s employees at a furniture supply store. After DWAC’s merger with Trump Media was announced publicly on 20 October 2021, the stock and warrant holdings significantly increased in value. The defendants and the individuals they tipped then sold their DWAC securities for a significant profit. Michael Shvartsman and Bruce Garelick have been charged with five counts of securities fraud under Title 15, each of which carries a maximum sentence of 20 years in prison; Gerald Shvartsman has been charged with three counts. All three defendants have also been charged with one count of securities fraud under Title 18, which carries a maximum sentence of 25 years in prison; and one count of conspiracy, which carries a maximum sentence of five years in prison. Read More Trump news – live: Truth Social SPAC agrees to SEC settlement as Trump’s past comments on indictment resurface Why isn’t Twitter working? How Elon Musk finally broke his site – and why the internet might be about to get worse Trump mocked for ‘weird apocalyptic’ campaign video Trump marks Independence Day by sharing vulgar attack on Biden Truth Social SPAC reaches SEC settlement as Trump indictment comments reemerge – live Trump sparks speculation by ranting about ‘charges against me’ in Georgia

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Follow live coverage as Aston Villa face Manchester United in the Women’s Super League today. Last season it was Chelsea who again took the WSL title, just edging out Manchester United, while Arsenal and Manchester City are expected to be contenders in 2023/24 too. Relegated Reading have been replaced by Bristol City after they won the Championship title by a single point last term, while the likes of Liverpool, Everton and West Ham will hope for continued progression this year too. On the back of the Lionesses’ magnificent runs at Euro 2022 and the 2023 Women’s World Cup, the women’s game continues to go from strength to strength with increasing crowds and exciting new signings from overseas. Follow live updates from today’s game in the live blog below.

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Julen Lopetegui admits the uncertainly surrounding his future cannot be allowed to drag on. The former Real Madrid manager’s long-term future at Molineux has been in the spotlight. Financial fair play regulations will impact the club’s spending power this summer and Lopetegui has previously said he only discovered the constraints last week. He has been calling for investment since securing Premier League safety and the manager will continue to speak to chairman Jeff Shi about what backing he will receive – but knows there needs to be a quick resolution. He said: “I hope – we will see. “I want to solve the problems. Maybe me or the club aren’t able to solve them 100 per cent, but I think we have to try, for our fans, for our club, for our history and for our future. “If we want to be demanding in the future we have to demand now with ourselves and with this summer. “I have a contract and I’ve been here for six months. I’m very happy here and I hope I can continue being happy here. “But we have a problem and we must be honest and look each other in the eyes to try to solve the problems. “Maybe not 100 per cent, but maybe 80 per cent, who knows? “This is all. About my future, I have a contract and we will see what is going to happen, This is football, we don’t know. “We have to talk, it’s not about one or two days. We have to talk about the solution and the future to be able to have a squad ready to compete again. “This year has been a wake-up call. We have to learn why it has happened and to overcome and make our homework this summer. It’s not about one or two days. We need a clear picture. “It’s important to have the squad ready. Maybe not 100 per cent of players but maybe 90 per cent. For me it’s very important, to have the squad ready to start working with us on July 1.” Wolves to go Arsenal for Sunday’s Premier League finale and Joao Moutinho will not feature and is likely to have played his last game for the club as he is out of contract in the summer. Sasa Kalajdzic (knee) is out while Lopetegui himself is banned from the touchline for collecting four yellow cards. He added: “On Sunday we have an important match because it’s the last of the season. They have been very close to winning the Premier League and will want to make a good match in front of their fans. We have to be ready to compete with them.”

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