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The arrested Chinese cryptocurrency millionaire in the US had ties to former President Trump’s associates and promoted crypto through the social network Gettr.
According to the Washington post, Ho Van Quoc, the detained Chinese crypto businessman, was a main investor in the republican social network Gettr that was established by Jason Miller, ex communications manager to ex-President Donald Trump.
The Issue With Gettr
Under Miller’s leadership, the platform sent tens of thousands of US dollars to the conservatives along with the Trump counsel Stephen Bannon. According to WP, the networking site also paid Quoc-related vendors. Quoc utilized Gettr to push a variety of altcoins, as stated in the article, though it’s not certain specific tokens that are being discussed.
Even though the administration attempted to refute this claim, ex Gettr members polled by WP think that Quoc was the lone investor in the social network. The publication’s insiders also allege that they were worried about Quoc’s impact on corporate operations because there are unproven accusations that he is a dual operative for Beijing.
The Official Sentence
Midway in March, Ho Van Quoc was detained in the United States. He created more than twenty accounts in different banks, in which he stored around $634 million, as reported by the United States Department of Justice. Quoc and his cohorts profited from their deceptive methods to the tune of roughly a billion dollars overall. Quoc and his colleagues are charged with taking $262 million through the fictitious crypto trading Himalaya Exchange in conjunction with securities fraud and money laundering.
The Himalaya dollar (HDO) stablecoin and the Himalaya coin (HCN) token, according to the DOJ, were produced in order for Quoc and his associates to broaden their suspicious transactions. Quoc promised shareholders in social media channels that if the token or stablecoin failed, he would refund all lost funds in full. A return of tens of thousands of percent was guaranteed to participants. Quoc could spend up to 215 years behind bars if all twelve counts against him are proven true.