Chinese fugitive Guo Wengui, the financial backer of Steve Bannon, has announced he will shut down video platform GTV after filing for bankruptcy and claiming he massively falsified data by hackers.
GTV, a Chinese-language video streaming site launched in 2020 by Guo and Bannon, shut down on Thursday morning due to legal issues for Chinese exile.
“Dear comrades-in-arms, GTV was completely shut down at 12:00 a.m. yesterday, due to massive data tampering by the Communist Party, hackers,” Guo said. announcement Thursday on Gettr, the social media app he owns.
The website featured daily videos of Guo and translated versions of Bannon Crisis unit podcast, spreading misinformation about the coronavirus pandemic and the 2020 presidential election. GTV has been at the center of a scandal surrounding President Joe Biden’s son, Hunter. In October 2020, a GTV user posted a video of a man engaging in illegal activity, claiming it was Hunter Biden, according to Mother Jones magazine. The video has never been verified.
GTV’s closure came after many financial problems for Guo. A few weeks earlier, Guo had filed for bankruptcy following a court order ordering him to pay around $250 million to a creditor suing him for breach of contract.
In a Gettr article, he announced his bankruptcy and signed the documents on camera.
In Guo’s bankruptcy filing, which he also shared online, he said he owed money to between 50 and 99 people. He placed his personal value between $50,000 and $100,000.
“From this moment on, I am personally bankrupt due to the Chinese Communist Party’s persecution,” he said, without giving further details.
Guo is also very outspoken against the Chinese government. He fled Beijing in 2014 when authorities accused him of corruption and money laundering, according to The Washington Post.
Bankruptcy is just the latest setback in Guo’s financial history. In September, the Securities and Exchange Commission instructed GTV to investigate illegal stock offering. GTV allegedly âviolated the registration provisions of federal securities laws by soliciting thousands of people to invest in an offering of GTV common stock,â according to court documents. GTV and its parent company were ordered to pay more than $486 million to compensate investors.
Last month, Guo faced $134 million in contempt of court fines after clashing with a New York judge. He refused to bring his $28 million yacht back to US waters, defying a court order barring him from selling or moving the boat or any other property he controls, resulting in a daily forfeiture of $500,000.
Newsweek contacted Guo for further comment.