(RepublicanInformer.com)- A media operation started by Steve Bannon, the populist former adviser to former President Donald Trump, has been hit by a $539 million fine by the Securities and Exchange Commission after they decided that he had raised funds through an unregistered and illegal private entity.
Exiled Chinese real-estate tycoon Guo Wengui, who started the media operation with Bannon will also be affected by the fine.
Three companies, Voice of Guo Media Inc., Saraca Media Group Inc., and GTV Media Group Inc. are accused by the SEC of raising money from 5,000 investors between April and June last year, without the stock and coin sale being registered with the SEC.
The three companies were part of what Bannon said was the “first ever platform” that combined “the power of citizen journalism and social news with state-of-the-art technology, big data, artificial intelligence, block-chain technology, and real-time interactive communication.”
It was an effort to decentralize news and social media, and give more Americans access to news media that they felt they could trust.
Given the way CNN, MSNBC and other left-wing media outlets have behaved during the Trump era, it’s no surprise that a media operation like this could so quickly raise $487 million – and it’s no surprise that the SEC is being so heavy-handed by demanding back more than they raised in a fine.
Doesn’t this sound like an effort to just…silence Bannon?
According to the SEC complaint, the platforms were attempting to become a bridge between China and the West.
Bannon and others were capable of raising so much money through the sale of cryptocurrency known as G-Dollars and G-Coins.
The news comes as Democrat senators increase their demands to SEC Chairman Gary Gensler to implement new cryptocurrency regulation guidance that would make it harder for average Americans to invest in crypto, and for operations like this to make money from crypto.
Gensler has reportedly assured the Senate that the SEC is working overtime to create new rules to oversee crypto markets.
The deep state really doesn’t want any opposition using deregulated currency to fight back.
And they call Republicans “fascists”?