Chinese tycoon’s companies pay $539M in US securities case

NEW YORK (AP) — Three companies linked to a Chinese businessman who is a prominent critic of his country’s ruling Communist Party have agreed to pay $539 million to settle U.S. charges they conducted an illegal securities offering. The Securities and Exchange Commission said companies linked to Guo Wengui raised some $487 million from 5,000 investors who bought stock in GTV Media Group Inc. and a digital asset called G-Coins or G-Dollars. Guo, who lives in New York City, left China in 2014 during an anti-corruption crackdown led by President Xi Jinping that ensnared people close to the businessman, including an intelligence official. He has rankled the ruling party by launching accusations of corruption on social media.