Three media companies bankrolled by billionaire Chinese exile Guo Wengui (aka, Miles Guo or Miles Kwok) have been sued by the U.S. Securities and Exchange Commission (SEC) for allegedly raising half a billion dollars via two unregistered securities offerings.
According to an order filed by the SEC today, GTV Media Group, Saraca Media Group, and Voice of Guo Media ran a stock offering from April through June 2020 while the former two companies simultaneously sold a digital token known both as G-Coins and G-Dollars. Cumulatively, they raised $487 million from over 5,000 investors, according to the SEC’s complaint, some of them based in the U.S; the token offering alone represented $34 million of that sum.
According to the SEC, neither security offering was registered though both were framed as investments. The companies have agreed to settle the case for $539 million without admitting wrongdoing. Guo is not mentioned in the court order.
If you haven’t read or watched GTV or its asso
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