It seems that the swamp isn’t quite done with Steve Bannon and friends.
According to the Wall Street Journal, the FBI and SEC have launched an investigation into Bannon-linked GTV Media Group, which raised over $300 million this spring in a private placement. At issue is whether any securities laws may have been violated during the placement, which was restricted to accredited investors – thus avoiding SEC registration requirements. Smaller investors were able to participate in the GTV Media offering through an entity called Voice of Guo Media, Inc – which raised nearly $120 million according to the report.
GTV Media holds itself out as “the only uncensored and independent bridge between China and the Western World,” telling potential investors that “it would be a platform for news, social media and e-commerce,” while stating a pre-investment valuation of $1.8 billion.