Steve Bannon-linked media venture to pay $539 million settlement for fundraising violations
A media venture formed by far-right political strategist Steve Bannon and exiled Chinese real estate developer Guo Wengui was slapped with a $539 million fine by the SEC for raising funds through an illegal, unregistered private offering.
GTV Media Group Inc., Saraca Media Group Inc. and Voice of Guo Media Inc., was accused of raising $487 million from more than 5,000 investors between April and June of 2020, without ever registering the stock and coin sale with the Securities and Exchange Commission.
Bannon, a one-time top strategist for former President Donald Trump, and Guo, who is a fierce critic of the Chinese government, founded the media operation in 2020.
Bannon and Guo billed the media companies as “the first ever platform which will combine the power of citizen journalism and social news with state-of-the-art technology, big data, artificial intelligence, block-chain technology and real-time interactive communication,” according to the SEC complaint.
The SEC complaint said the platforms claimed they would be “the only uncensored and independent bridge between China and the Western world.”
https://www.marketwatch.com/story/steve-bannon-linked-media-venture-to-pay-539-million-settlement-for-fundraising-violations-11631544791
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Anyone who gives him money for anything is a fool.
