The Securities and Exchange Commission (SEC) has sued three media firms backed by billionaire Chinese exile Guo Wengui for allegedly raising half a billion dollars through two unregistered securities offerings.
GTV Media Group, Saraca Media Group, and Voice of Guo Media all sold stock from April to June 2020, according to an SEC order filed today, while the first two businesses also offered a digital token known as G-Coins and G-Dollars.
According to the SEC’s lawsuit, they obtained $487 million from over 5,000 investors, some of whom were headquartered in the United States; the token sale accounted for $34 million of that total.
Neither securities offering was registered with the SEC, despite the fact that both were portrayed as investments, according to the SEC. The firms have agreed to pay $539 million to resolve the complaint without admitting any wrongdoing. The court order makes no mention of Guo.
It’s possible that you haven’t read or watched GTV or its related items because they’re in Chinese and aimed at conspiracy theorists.
The media options to the right of Fox News are right at home with One America Network News as havens for QAnon content and assertions concerning the “true” and malicious origins of the coronavirus.
Guo, a former real estate developer sought in China for loan fraud, now lives in New York and is close to Steve Bannon, the former Breitbart executive chairman who helped create Donald Trump’s “America First” strategy as a White House adviser.
Guo Media, which is owned by Saraca, hired Bannon as a media consultant for $1 million in 2018, and Guo has claimed Bannon as a member of the GTV board of directors.
Bannon was also a member of Guo’s Rule of Law Society’s board of directors, which claims to “defend those speaking out against corruption and criminal acts in China.” Bannon has since resigned from the board of directors.
G-Coins were advertised by Guo’s media firms as a way to acquire news products and could be swapped for gold online, though details were scarce.
“The whistleblowers movement can allow our brothers and sisters to legally make money on G coins and make huge wealth on this platform (GTV), for example when you open a shop at G-Mall in G-Fashion or write news at G-News,” according to a G News article titled “Miles Guo’s definition of G coins and his visions.”
Guo, like Bannon, is hell-bent on deposing China’s Communist Party. His disinformation tactics, on the other hand, have succeeded in sowing confusion, whether by accident or deliberately. Guo, for example, has recently declared several anti-CCP dissidents—once allies—as China’s foes and spies.
On one of his websites, you can learn everything there is to know about it. You won’t even have to spend any G-Dollars to do it.
