Wealthy Chinese exile Guo Wengui, tied to misinformation campaigns, sued by media company investors
The attorneys for plaintiffs listed in the complaint told CNBC they have no interest in turning the case into a media event.
"With respect to the Arizona lawsuit, our comment is simply that we will respond and vigorously defend our client in court against all of the unfounded allegations," Jeffrey S. Gavenman of the law firm Schulman Bhattacharya told CNBC in an email.this month that Guo and the other defendants have until September to speak with their accusers to "provide notice regarding any intent to move to dismiss the Complaint and, if so, the grounds upon which they intend to move.
According to the lawsuit, there were apparently two forms of investments Guo offered through his public broadcasts last year to people interested in funding GTV Media. "Investors were told Ms. Wei was to pool the smaller sums of money and invest them in GTV through another entity, defendant Voice of Guo Media, Inc. , on their behalf. Each of the Plaintiffs and the Class were such investors that invested in GTV securities through Ms. Wei and/or VOG," the lawsuit says.
The plaintiffs said they and other interested investors were told by Wei that they need to show proof they are donors to either the Rule of Law Society or the Rule of Law Foundation, two nonprofits with ties to Guo, in order to "qualify to invest." CNBC reported onRepresentatives for the foundations did not respond to requests for comment.
Wei initially told investors last year, according to the complaint, that "the delay in confirming receipt of the investors' transfers and in countersigning the Limited Purpose Agency Agreement was caused by Wells Fargo and Chase putting a portion of the funds on hold."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vox Media Agrees to Acquire Punch, Weighs Going PublicVox Media said Monday it is buying Punch, a cocktail website founded by Penguin Random House, part of a bid to deepen its coverage of food and drinks
Read more »
New investors are breaking the traditional mold when it comes to investing, CNBC survey finds26% of new U.S. investors own crypto, according to the latest CNBC/MomentiveAI survey. Kr00ney has the details. investinyou (In partnership with acorns.)
Read more »
The World’s Hottest Smartphone Brand Is Chinese—and It Isn’t HuaweiU.S. sanctions have pummeled Huawei’s smartphone business and a different Chinese tech company is reaping the benefits.
Read more »
Fox News Evacuates Three Afghan Nationals Who Worked With CorrespondentsFox News CEO Suzanne Scott added they also retrieved a colleague from a regional media company and the families of all, totaling 24 people.
Read more »
Big tech's extremism fight could kick hornet's nest of the populist rightSocial media companies are increasingly targeting extremist far-right material online, while being dragged into a culture war with mainstream conservatism.
Read more »