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28 September 2021

SEC takes action against Chinese billionaire's companies over $500M offerings

SEC takes action against Chinese billionaire's companies over $500M offerings


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The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined.

Proceeds from the ICO were commingling with the funds raised in its $453 million stock offering that purported to distribute 10% of GTV’s common shares

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