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Endless lawsuits and approaching deadline Guo Wengui’s sluggish refund can’t hide the malice of “fake bankruptcy”

Guo Wengui’s bankruptcy filing is a “draining the water to save the boat”. According to the SEC’s GTV Fair Fund refund announcement, Guo has paid a total of US$455 million ($455,439,194.49) to the SEC. The refunds sit on suspicion of fraud, but the amount of the refunds leaves a shortfall of US$32 million compared to the US$487 million (486,745,063) he defrauded from more than 5,000 investors. There is also a shortfall of $84 million compared to the $539 million ($539,433,428) in refunds ordered by the SEC (in addition to the $487 million in fraudulent proceeds, approximately $17.69 million in pre-judgment interest and $35 million in civil penalties). Where did this shortfall go? It shows that Guo still has some assets left over to try to make a comeback. The way to retain his assets is to use the resources of the US judiciary to trick the judge and file for bankruptcy.

It was also because the SEC initiated a refund process for investors based on Guo’s refund that Guo’s live broadcast on Gator was no longer watched, with viewership dropping to zero at one point. This shows that although the ants knew that Guo was a fraud, the ants who had expectations before when they were not guaranteed a refund could only cling to Guo’s sway, watching his live streams and liking his videos. At one point, there were even revelations from the ants within the farm that the farm had set internal task targets for video views and likes and comments for GTV and Gator, creating the illusion that Gator was about to overtake Twitter Facebook and leapfrog the world’s number one social media platform. Now that the SEC has opened the floodgates for refunds, the ants have abandoned Guo and the scene has descended into a post-exuberance lull. What’s even more ridiculous is that in addition to pulling his closest relatives down over the yacht Ladymay and the 18th floor, Guo is now saying that Gator and GTV have nothing to do with him in order to hide his assets.

Where does this put Gator CEO Jason Miller? If Miller cooperates with Guo Wengui in perjuring himself in court, then who will be held responsible for the fraud that Gator was about to go public but never did? Who will be refunded the fraudulent money ant invested in Gator? Miller will certainly not take the blame. He certainly did not anticipate that Guo would dump the pot entirely on himself in a crisis either. The sophisticated Guo Wengui must have had a plan for how he would dump the pot before he started a fraudulent project, and he had a plan to clear his name before he set up the project. The company’s main goal is to provide the best possible service to its customers. As Guo Wengui’s closest relatives, Guo Qiang and Guo Mei both know Guo’s nature well, and because they are close relatives, they understand it better. Because they are close relatives, they can commit perjury against the judge in court to protect their father. So why should Miller, who is not a relative, use his “money” to pay for a liar who is throwing himself under the bus?

Even if Miller had been under Guo’s spell and chose to perjure himself in court, it wouldn’t have mattered much. After all, multiple pieces of evidence prove that Guo Wengui is the founder and de facto controller of Geert and GTV. The US judge has probably seen a lot of Guo’s tactics to hide his assets. The judge said after the last hearing that no more hearings would be scheduled until April 27 and warned Guo: “If we don’t reach a consensus, the time sand pot will bottom out sooner than you expect”. The bankruptcy office also said it agreed with the judge. What does this mean? It means that both the judge and the Bankruptcy Bureau knew that Guo was dragging his feet. As Judge Ostrager said, Guo Wengui had hidden his assets in a maze of “shell companies and family members”. But in the spirit of American justice, even if you are known to be a fraud, if you file a motion, you still have to go through the process. You go into bankruptcy in bad faith and in contempt of court, and I add layers and layers of money to the tens of millions owed to what is now almost $200 million. The judge is in no hurry, and as time passes, it is Guo who is in a hurry. As long as Guo does not run away, everything is under the control of the judge.

In fact, the Guo Wengui bankruptcy case and the PAX case have been transferred from the Bankruptcy Court for the Southern District of New York to the federal Connecticut court, which sided with the Bankruptcy Bureau. Between the lines of the US Bankruptcy Bureau’s charges, there are signals of Guo’s bad faith bankruptcy. Once the bankruptcy motion is denied, Guo Wengui faces more than 20 years in prison under bankruptcy law. We look forward to the judge hearing PAX’s motion to reinstate the contempt judgment on April 27, when he will simply enforce the $134 million contempt sentence against Guo Wengui and deny the bankruptcy motion. In any case, Guo has been badly hurt in the sea of lawsuits, and his energy has been greatly damaged.

Those who are good swimmers drown in the water, and those who are good liars fall into litigation. As a litigator, Guo has sued many of his comrades over the past four years, including Interpol, Bank of America, Wells Fargo, Twitter, YouTube and Facebook, alleging that Dovetail News provided false evidence for the PAX case. He is likely to accuse Miller of providing false evidence to the bankruptcy court at some point in the future, suing the bankruptcy court and the federal Connecticut court judge for “misrepresenting the facts” because they have information control, bribery, sexual bribery. But now he is nearing the bottom of the hourglass of abusive litigation, with the SEC pressing for a refund of US$455 million, a landmark point in Guo Wengui’s downfall. For the ants, in the darkness before the dawn, Guo will struggle to the death, but the dawn will eventually come for the ants.

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