And of course, a dodgy China-based company that helps Chinese investors avoid US regulation is behind Trump's public listing. Unbelievable.
Donald Trump's social media deal partner took advice from a group of China-based businessmen who in the past...had their “integrity” questioned by U.S. regulators.
The financiers - Abraham Cinta, Sergio Camarero, Carlos Lopez and Jesus Emilio Hoyos Quintero - are managing partners of ARC Group Ltd, a Shanghai-based investment bank listed in a regulatory filing as a financial adviser to Digital World Acquisition Corp (DWAC.O), the shell company merging with the former U.S. President’s venture...
A review of regulatory filings shows that while ARC has been actively involved in the creation of SPACs, especially over the past two years, its executives ran into trouble with the U.S. Securities and Exchange Commission (SEC) in 2017. The regulator sued to block the initial public offerings of three companies where the four men had leading roles, accusing them of misrepresenting their connections, misstating the nature and scope of their businesses and failing to cooperate with regulators...
Digital World shares are up more than 600% since the deal a week ago, and ARC Group seized on the rally to promote its business in China. It sent a Mandarin translation last week of a Reuters story on the merger to subscribers of its channel on Chinese messaging app WeChat.
