A new report out Friday has a grim future in store for one Steve Bannon. According to several reports, federal investigators are now reportedly investigating a $300m media deal linked to the fraudster himself. The Wall Street Journal (warning: paywall) reports that the SEC and the FBI launched an investigation after investors for the so-called company claimed they didn’t get verification for their investments.
But somehow they managed to invest upwards of $300m.
Now officials want to know why that is; how it happened, and what exactly it is that Bannon and Chinese fugitive Guo are doing. The company per documents is actually GTV Media Group (which has been discussed prior to this bombshell announcement.)
Officials are investigating what some say was an outright scam from the start. According to the report, several investors swiftly demanded refunds after learning that they wouldn’t get verification of assets or investments and felt that they had been led on. In fact, both JP Morgan Chase and Wells Fargo have already taken the necessary steps to freeze accounts that have the monies in them from the related sale(s) and investments.
The British Columbia Securities Commission also took matters into its own hands. Following reports that the company appears to be a sham, an alert was issued to local residents. They “have not registered to sell securities in BC and have not filed a prospectus with the British Columbia Securities Commission.” The alert added: “We urge BC residents to exercise caution when dealing with companies that are not registered to issue shares.”
EDITORS NOTE: The original story has a paywall that requires people to pay in order to read the story. We summarised this story here for people to read due to the ongoing national interest in Steve Bannon ‘s alleged relation to numerous cases of fraud.
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