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Fugitive Chinese billionaire’s firms to pay $539mn fines

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AFP

New York (AFP) – Three companies of exiled Chinese billionaire Guo Wengui have agreed to pay $539 million in penalties to settle charges over illegal cryptocurrency sales, the top US financial market watchdog said Monday. GTV Media Group, Saraca Media Group and Voice of Guo Media Inc last year raised funds through the sale of digital assets called G-Coins and G-Dollars, as well as stock, according to the Securities and Exchange Commission (SEC). However, the agency said the sale was not registered. The companies agreed to repay the $487 million raised from more than 5,000 investors, including …

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