U.S. Attorney for New York’s Southern District Flubs the Facts on Anti-CCP Chinese Dissident’s Media Company
(Note: This is a sponsored post from NewNoah. The opinions expressed are those of the author and not necessarily those of Gateway Pundit)
by Matt Palumbo
Following the arrest of Miles Guo on March 15, 2023, something incredible happened during his arraignment hearing. Judge Katherine H. Parker informed the New York prosecutors that they had a legal obligation to disclose to Guo “any and all information that may help impeach a Government-produced witness testimony and/or is otherwise favorable to Mr. Guo, including their contacts with foreign governments or other contacts that may be conflicts of interest by any persons involved in the prosecution or investigation of Guo’s case.
To the surprise of no one that’s followed the persecution of Guo, the New York prosecutors then admitted that they had “worked a lot with China” – the authoritarian regime that Guo has devoted his life to exposing and defeating. Guo is the founder of the New Federal State of China, which is a social movement that’s quickly become the Chinese Communist Party’s biggest enemy.
This was further spelled out in a written order from Judge Parker the next day explicitly laying out the prosecutors’ disclosure obligations. In the order she referenced the cases of Brady v. Maryland (1963) and Giglio v. United States (1972). The former was a landmark case which ruled that the prosecution must turn over all exculpatory evidence for a defendant to the defense, while in the latter, the Supreme Court held that the prosecution’s failure to disclose evidence that could impeach a government witness may constitute a violation of due process.
Brady violations are surprisingly common from prosecutors – especially in highly politicized cases. When former Trump National Security Adviser Michael Flynn was targeted by the deep state, all evidence exonerating him was withheld. Eventually, despite initially pleading guilty, the charges against Flynn were dismissed by the DOJ because of “new” evidence – but more importantly, a public spotlight on that “new” evidence discrediting the DOJ’s case. Despite the win for Flynn, the case should’ve never been brought forward in the first place, of course. As they say, “the process is the punishment.” Additionally, as new footage aired by Tucker Carlson regarding the events of January 6 has also revealed, prosecutors withheld no shortage of evidence that portrayed the indicted in a positive light.
The Southern District of New York has had a history of malicious prosecution, and even made material misstatements of the facts in their charging documents of Guo.
The United States Attorney for the Southern District of New York, Damian Williams, claimed in a letter to Judge Parker that “To attract victim money to the Farm Loan Program, Kwok [Miles Guo] continued to endorse the purported value of GTV. For example, in an August 2, 2020 video, Kwok falsely represented that GTV had a “market value of 2 billion US dollars.’” She goes on to write that “at the time of the video, Kwok knew that valuation was false.” Prosecutors are alleging that Guo overvalued GTV to attract investors.
But the valuation was not false, and a private valuation study was underway. The only thing “false representation” here is from the Southern District of New York.
In a report dated December 15, 2020, Alvarez & Marsal’s (“A&M”) published a valuation analysis of GTV Media group as of June 28, 2022. The report provided a range of estimates for the fair market value of GTV’s shares, all of which were $1.4 billion or higher.
Alvarez & Marsal is a global professional services firm that offers management consulting services, including private business valuation services.
Using an income approach, whereas the company is valued based on the amount of income it can expect to bring in based on long-term growth rates between 3 and 5 percent, A&M estimated GTV to be worth between $1.4 billion and $2.2 billion. A&M used relatively high discount rates of 35% and 45% in their analysis, which has the effect of reducing the expected value of a business based on this approach. Estimated long-term growth rates of 3-5% are also relatively low for startup businesses, and in all likelihood GTV’s is much greater. In other words, this valuation errs on the side of undervaluing GTV.
A&M also used a market comparison approach by comparing it to similar but publicly traded companies in its industry, giving it between a $1.4 billion and $2.6 billion valuation (pictured below).
Prior to his current position, U.S. Attorney Williams was formally a litigation associate for Paul, Weiss, Rifkin, Wharton, & Garrison, LLP. According to their website, they were “one of first foreign law firms to establish an office in mainland China.” Once again, every character in this real-life drama manages to have some connection to China.
Guo is currently under arrest and detained. Given circumstances surrounding his arrest that are already suspect and unexplained, such as the fire that broke out in his New York condo following his arrest, it’s important that the public is aware of his situation, and of any potential harm he may face while in custody. We’ve seen time and time again what the swamp is capable of doing to its political opponents – and here, the CCP is in on the action too.
About the author: Matt Palumbo is the author of The Man Behind the Curtain: Inside the Secret Network of George Soros (2021), Dumb and Dumber: How Cuomo and de Blasio Ruined New York (2020), Debunk This!: Shattering Liberal Lies (2019), and Spygate (2018).
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