(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
The government has no case, but that isn’t stopping them.
As the government continues to deny bail to anti-CCP dissident Miles Guo, it’s been getting much less attention that his close ally and supporter Yanping Wang (also known as Yvette Wang) is being given similar treatment. Prosecutors are charging her with acting as Guo’s “chief of staff” despite there being no formal employment relationships between the two.
Originally Wang was granted bail “on paper,” whereas the government made it impossible for her to satisfy the conditions of bail despite meeting it. Wang was “granted” a $5 million bond to be secured by $1 million in cash or property, and she offered a list of at least eight people willing to co-sign her bond, putting them on the hook if she defaulted on it. Three of them were willing to post their own property as collateral. The government’s rules require two co-signers that they approve of – and they’re willing to approve of no one.
Wang’s defense counsel also offered to secure Wang’s bond with $4 million in cash and real estate, which would be secured by $2 million from a “well-known public figure,” Wang’s apartment (valued at over $1 million), and $530k, along with two co-signers. In other words, Wang offered to pay collateral four times what the government demanded – yet, this was rejected, and all attempts at reasoning with the government proved impossible.
The game was rigged from the start, and the government isn’t even pretending otherwise anymore.
The government has since altered their impossible standards even more due to supposed “changed circumstances,” and they now argue that literally nothing can guarantee that Wang will appear at trial. Despite this, the government provided no evidence that Wang’s circumstances have materially changed.
One of the government’s bogus allegations is that Wang misrepresented her holdings of a cryptocurrency called H-Coin to the government. The “evidence” the government provided showed that Wang was once eligible for an allotment of H-Coin, but provided no evidence she ever received it, and couldn’t locate a single account in her possession that holds the crypto. Despite this, the government alleges that she owns $7 million worth of the coin.
The government even made the following admission to the judge; “[The] defense is correct, there’s no way for the Government to prove that Ms. Wang holds that money.”
The government also has to wrestle with contradictory arguments on their behalf; that Wang holds millions in a cryptocurrency, and that the very same cryptocurrency is actually a worthless fraud. In response to that, the government is forced to participate in an epic feat of mental gymnastics, whereas they argue that H-Coin is worthless, but still trades at $19.42 per coin regardless (at the time of their filing), and that it wouldn’t’ become worthless until Wang sells her coins.
There are countless flaws with this illogic.
First, H-Coin aren’t convertible into dollars, but into HDollars, which can then be converted into cash. The main flaw in the government’s “exit scam” hypothesis is that it was the government itself that seized $335 million from the Himalaya Exchange where they’re traded. HDollars now cannot be exchanged for dollars because the government deprived Himalaya of its reserves. This has since restricted Himalaya’s ability to pay out, and they are only allowing withdrawals in $5,000 increments once a month.
Even without the government’s seizure, valuing something as highly volatile as a cryptocurrency at current market prices is problematic. Roughly $200,000 in H-Coin is traded every day – meaning that the government delusionally believes Yang would be able to cash out a sum equal to thirty-five times larger than that without crashing the price substantially.
We’re also left to wonder why H-coin hasn’t crashed already. H-Coin has been subject to a barrage of public criticism, including being accused of being a fraud by the U.S. government. Investors are quick to jump ship at the first whiff of bad news, especially in the cryptocurrency space, yet that hasn’t happened here. Investors have had an ample opportunity to liquidate their holdings if they believe it to be a fraud, yet the market as a whole is clearly in disagreement with the government here.
Another claim from the government was the repeated falsehood that Wang failed to disclose bank accounts – with their evidence being an undated account application form with no markings indicating it was sent, handled, or received by anyone. The government themselves admits they don’t have hard evidence here – and are actually still in the process of trying to substantiate their allegations. As they admit; “As described in part below, the Government is still seeking records (including from foreign jurisdictions) to try to determine whether Wang opened any bank accounts in the name of Holy City Hong Kong Ventures Ltd.” The government also says it will be “seeking” information regarding the account they claim exists based on the aforementioned undated account application.
Lastly, the government claims that Wang lied to Pretrial Services about not being employed – while providing no evidence that she’s engaged in paid work. Making matters even more ridiculous, the government wasn’t present at this interview, and there’s no official recording of it.
New York is a state that regularly makes headlines for their “revolving door” criminal justice policies, where even violent criminals are routinely let out without bail after arrests. Yet now, in the case of Guo and his associates, they’re suddenly concerned about granting bail?
Some of the most famous fraudsters in history were let out on bail, including Bernie Madoff, who oversaw the world’s largest Ponzi scheme, and was released on a $10 million personal recognizance bond. Alleged FTX fraudster Sam Bankman-Fried is accused of up to an $8 billion fraud, and was personal recognizance bond with two (initially) anonymous co-signers. Furthermore, Jeffrey Skilling, who presided over the Enron scandal, which was at the time the largest bankruptcy in U.S.history, was released on a $5 million secured bond.
And the list goes on, and on, and on. The only exception to the rule is for those who have been a thorn in the side of the CCP.
About author: 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).
