Truth Social’s Chinese-backed operator Yunhong International emerges

Translate by: MOS member – Tienan Sun; MOS Finance- Riuqiu

On October 22, Mr. Guo Wengui broadcasted and exposed that Truth Social, President Trump’s newly listed social media platform, is indirectly controlled by the Chinese owned entities.

Digital World Acquisition Corp (DWAC), currently listing on NASDAQ, experienced significantly increase in stock price on October 22 due to its relationship with Truth Social, new social media platform launched by President Trump. DWAC merged with Truth Social through the special purpose acquisition company (SPAC) model.

Mr. Wengui pointed out that Patrick Orlando serves as CEO of DWAC per SEC filings; however, on the other hand, Patrick Orlando also serves as CEO of YunHong International (YHI), a shell company registered in the Cayman Islands with no active business operations or significant assets. Mr. Wengui also presented a document showing that, YHI is owned by Wuhan YuHong Group in China.  When Giga Energy merged with YHI in October, Mr. Li Yubao, YHI’s Board Chair, executed the deal and witnessed by Wu Zheng.

DWAC’s stock price has surged 80% at the market closed, and once rose more than 400% during the day. The financial media in Simplified Chinese have reported on this.

Proofread by: Ruiqiu

Posted by: Ruiqiu

Original Link: https://gnews.org/zh-hans/1612594/

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hongwowo
1 month ago

One of the reason Trump lost his last battle was the failure in lining up the right people around himself. If he can learn from past experience, he still has a chance to win. However, it’s no small job.