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Media Companies Linked to Chinese Exile to Return Millions to Investors in SEC Settlement

The Securities and Exchange Commission (SEC) on Sept. 13 charged three U.S.-based media companies over illegal unregistered offerings of stocks and digital assets. The companies—New York-based GTV Media Group and Saraca Media Group, and Phoenix-based Voice of Guo Media—are affiliated with Guo Wengui, a Chinese billionaire living in exile in the United States. The three firms agreed to pay more than $539 million to settle, without admitting to or denying the SEC’s findings, the U.S. regulator stated in a statement. The SEC did not mention Guo by name. From April to June 2020, the three media solicited individuals to invest in the GTV stock offering, while GTV and Saraca also marketed the sale of a digital asset security they dubbed “G-Coins” or “G-Dollars.” The firms promoted their two security offerings through GTV and Saraca’s websites, as well as on social media platforms including YouTube and Twitter. The three media did …

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