Tornado Alley (PROG)

[fuagf]

Can only see -- Trump’s Truth Social merger partner settles fraud charges with SEC over misleading investors

" I'm not sure if Orlando's been charged criminally. Has he?"

Regulators say Digital World Acquisition Corporation was created to buy Trump’s media company but didn’t disclose that to investors

ByLukas I. Alpert
Published: July 20, 2023 at 6:10 p.m. ET

[...]

A publicly traded investment vehicle that has announced plans to merge with Donald Trump’s Truth Social media company has reached a settlement with the Securities and Exchange Commission over fraud charges that it misled investors about the deal.

As part of the settlement, the Digital World Acquisition Corporation DWAC — a special purpose acquisition company (SPAC), or “blank check” company formed in 2021 — was ordered to pay an $18 million civil penalty fee in the event that it completes its planned merger with the Trump Media and Technology Group and takes it public.

https://www.marketwatch.com/story/trumps-truth-social-merger-partner-settles-fraud-charges-with-sec-over-misleading-investors-69cfe4c4