Inner City Press

In Other Media-eg NYLJ Fortune 2023, CJR, NY Mag, AJE, Georgia, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

In Miles Guo Trial Kyle Bass Rep Cites Bannon Contract and HK Dollar Short Call to Bill Je

by Matthew Russell Lee, Patreon Substack

SDNY COURTHOUSE, May 31 – After a circus-like civil case involving Guo Wengui in the U.S. District Court for the Southern District of New York, which Inner City Press closely covered, here, March 15, 2023 saw the unsealing of a twelve-count Indictment of Miles Guo onvarious wire fraud, securities fraud, bank fraud, and money laundering charges.

On May 21, the US Attorney's Office wrote in seeking to preclude fire issues from the trial: 7 page letter on Patreon here.

On May 22, Inner City Press live tweeted jury selection, here.

   Many were excused from the jury pool.

More detail / some analysis on X for Subscribers here & Substack here

On May 23 the defense wrote in including "There is no evidence to support the government’s sensationalist theory that Mr. Guo started a fire at the Sherry Netherland residence. Letter on Patreon here

At the end of May 23, Judge Torres told the remaining jurors that the trial would start Friday. Thread.

More details on X for Subscribers here and Substack here

And it did. Inner City Press live tweeted the opening and first two witnesses, an FBI agent about the Greenwich search, and a Dallas based Lamborghini dealer, thread here.

On May 28 the US moved for admission of posts from GNews and GETTR, 5 page motion on Patreon here

On May 31 a representative of Kyle Bass' Hayman Capital Management testified, thread

Witness Steele Schottenheimer: The investment in Hayman's fund, shorting the Hong Kong dollars, received an investment that was not what it appeared. The SEC contacted us.

AUSA: How do you remember the day? Steele: It was my mother's birthday and I was to cook for her but was late

 AUSA: Please read this letter. Steele: Our Hong Kong opportunities fund has been contacted by the SEC about G-coin. We require immediate information. AUSA: What was G-TV Media Group? Steele: It was operated by Miles Kwok

 Steele: We asked for the source of capital. And if it came from a public offering. Was any of the money raised in GTV's primary offering used for this investment? Into what banks were the proceeds deposited? AUSA: Was there any answer? Steele: NoAUSA: Any informal response?

Steele: Kyle and William Je connected over the phone. AUSA: What was your understanding of - Guo's lawyer: Objection! Hearsay! Judge: Please approach [sidebar with white noise turned up]

 [After sidebar] Judge: You may answer. Steele: William Je told Kyle there was a misunderstanding, that there may have been some money borrowed but they wanted to stay in the fund. AUSA: What that explanation sufficient? Steele: No.

 AUSA: Was Hayman contemplating ejecting them from the HKOF [Hong Kong Opportunities Fund]? Steele: Yes. Where is our lawyer's letter about the $70 million mandatory withdrawal. The GP reserved its right to do that, to return the investor's money.

 Judge: This August 22, 2020 email from Kyle Bass to William Je is only being offered for its effect. AUSA: What did Mr. Bass write to Je? Steele: We have been asking for clarification [about G-TV] since July 15... Please discuss this with Miles and respond by 8/28

AUSA: How much money was lost? Steele: $29.6 million. AUSA: Where did the money go? Steele: A JP Morgan Chase account... This was a high risk, potentially high reward strategy, if the Hong Kong dollar stayed within the band. This was meant to be a hedge

 AUSA: No further questions. Judge: Cross examination. Guo's lawyer: Where did you start? Steele: Legg Mason then with Kyle to Hayman. AUSA: Hayman could only taken in funds from qualified investors? Steele: Yes. They had to have $5 million in marketable securities

 Steele: I met Miles one time in Texas. He came to interview with Kyle in an airport hanger.Guo's lawyer: You said Hayman works in event driven strategies? Steele: We invest in securities tied to an event driven thesis Guo's lawyer: In the US, Hayman invested based on subprime lending going down?

Guo's lawyer: So this fund was related to the HK dollars, that it would break from the US dollar? Steele: On the weak side. The HKMA holds US dollars on its balance sheet.  Guo's lawyer: It can use them to keep the peg in place. But if it runs out, the peg breaks?

 Judge: Let's break here.

More detail and analysis on X for Subscribers here and Substack here

The case is US v. Guo, et al., 23-cr-118 (Torres)


Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.


Feedback: Editorial [at]
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2024 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at]