Attorney General James Secures Nearly Half a Billion Dollars to Resolve Illegal Stock and Cryptocurrency Sales

GTV Media Group and Saraca Media Group Unlawfully Sold Stocks and Digital Instruments Without Registering in New York 

 New York Attorney General Letitia James today announced she has secured a recovery of nearly half a billion dollars unlawfully obtained from investors who financially backed GTV Media Group, Inc. and its parent company, Saraca Media Group, Inc. The agreement signed with the Office of the Attorney General (OAG) lays out how the two companies — tied to Chinese billionaire Guo Wengui and, previously, to Steve Bannon, who briefly served as a non-executive director of GTV Media — unlawfully sold stocks and two digital instruments promoted as cryptocurrencies without registering in New York state, and forces the companies to pay $479.9 million to settle claims that they failed to register as securities dealers and/or commodities broker-dealers.    

“No matter how powerful or how rich, companies in New York must follow the law,” said Attorney General James. “In a single year — as the nation faced a pandemic and a financial crisis — GTV Media and Saraca Media’s corporate greed led the companies to illegally take in nearly half a billion dollars from investors by cutting corners and failing to follow New York laws. Firms that want to sell stocks and digital currencies to New York investors or conduct business in New York must abide by the same regulations as everyone else. We secured a recovery of $480 million dollars and are forcing these companies to play by the rules because no company is above the law.”

GTV Media was founded in April 2020 and is majority-owned by Saraca Media. Both are New York-based media companies that operate Chinese-language news and social media platforms. Attorney General James’ investigation revealed that GTV Media conducted an offer and sale of its stock, beginning in April 2020, that raised hundreds of millions of dollars from over 1,200 investors, including from dozens of New Yorkers.

Simultaneously with the stock offering, in May 2020, GTV Media and Saraca Media conducted pre-sales of two digital instruments — G-Coin and G-Dollar — that were promoted as digital or cryptocurrencies. These pre-sales raised more than $30 million in additional money from purchasers.

Under New York’s Martin Act, GTV Media and Saraca Media were required to register as securities dealers and/or commodities broker-dealers in selling the stock and digital instruments, but failed to do so.        

Under the agreement announced today, GTV Media and Saraca Media will get credit toward the $479.9 million settlement for payments that they make to the U.S. Securities and Exchange Commission in connection with that agency’s investigation. Money secured by this agreement will be placed in a fund to provide money back to harmed investors.

Espaillat Hails Historic Investments in Child Care, Education, Job Training for New York City

 

 Today, Representative Adriano Espaillat (NY-13), a member of the House Committee on Education and Labor, touted investments in child care, education, job training, and child nutrition advanced through the Committee’s section of the Build Back Better Act. The historic investments will lower costs for families, secure good-paying jobs for American workers, and set a strong foundation of America’s children.

"It's simple, the Build Back Better Act is a monumental investment in America's working families. With the our portion alone, we're injecting over $700 billion into our communities that need it most - delivering for Main Street, not Wall Street," said Rep. Espaillat.

"We can't mince words: this past year and a half has taken an unfathomable toll on our children, families, and their communities - and they need our support. By lowering child care costs, reducing barriers to entry for higher education, bolstering our public school systems, preventing child hunger, and helping workers get good-paying jobs, we're taking strides to ensure our working families can build back better, and stronger than ever before.

"Levelling the playing field is how we rebuild, rebound, and revitalize – and this once-in-a-generation investment is a down payment for us to rebuild from the middle out. The time is now for us to deliver for our working families – and the Education and Labor committee has delivered on that promise," Espaillat concluded.

The investments advanced through the Committee last week will: 

• Lower the cost of child care and secure universal pre-K for three- and four-year-olds,
• Lower the cost of higher education by funding two years of tuition-free community college and increasing the value Pell Grants,
• Strengthen our public schools by helping school districts repair, modernize, or rebuild crumbling and outdated school buildings,
• Help workers secure good-paying jobs by expanding job training programs, and
• Help prevent child hunger by expanding our most effective child nutrition programs.

The Build Back Better Act also includes several of Rep. Espaillat's priorities, including:

• Funding to ensure childcare providers – including home-based providers – are paid a living wage and achieve parity with elementary school teachers who have similar credentials and experience, and childcare subsidies to cover the true cost of providing high-quality care,
  
  
• $400 million for Teachers Quality Partnership (TQP; Title II of the Higher Education Act) to train and retain educators prepared to teach students with disabilities, to teach English language learners, and to teach literacy strategies,

• increased funding for Hispanic-serving Institutions (HSI) for subsidies for low income students, to improve research capabilities, and better prepare their teachers and professors.

For a summary on the Committee on Education and Labor’s portion of the Build Back Better Act, click  here. 

HPD and Development Partners Announce Plans for 40 Affordable Homeownership Opportunities in the Southeast Bronx

 

Habitat NYC and Westchester, Camber Property Group and Almat Urban developers will lead homeownership project and transfer ownership to Interboro Community Land Trust

 

Transformation of Anthony Avenue site advances key commitment of the Jerome Avenue rezoning

 The New York City Department of Housing Preservation and Development (HPD) today announced plans to bring 40 new homeownership opportunities for low-income families to the Bronx. This announcement with Habitat for Humanity New York City and Westchester County, Camber Property Group, Almat Urban and Interboro Community Land Trust (CLT) advances a key commitment of the Jerome Avenue Rezoning to transform the vacant city-owned Anthony Avenue site into permanent affordable housing.

 

This project represents the first time HPD selected a team proposing the CLT model for homeownership in response to a Request for Proposals (RFP) to create affordable housing on vacant, City-owned land. This milestone delivers on the Administration’s commitment to advance new housing models designed to expand community and collective ownership. Transferring the project’s land to the Interboro CLT will facilitate ongoing home sales to lower-income households, ensuring that future generations of first-time home buyers benefit from the project’s long-term affordability.

 

“With this plan, we make a dent in the unjust circumstances that, by design, have prevented homeownership opportunities for low-income families,” said Deputy Mayor for Housing and Economic Development Vicki Been. “I commend Habitat for Humanity NYC, Camber Property Group, and Almat Urban for their tireless work to make homeownership opportunities open to all.”

 

“Thanks to this plan, forty families will get the opportunity to buy a home and live the American dream. We know that affordable homeownership is an important vehicle for building family wealth and giving communities a greater stake in their neighborhoods,” said HPD Commissioner Carroll. “Through the transformation of the Anthony Avenue site into affordable housing, we are making good on our commitments to the community in the Jerome Avenue Neighborhood Plan. I’m thankful to Council Member Vanessa Gibson for her ongoing partnership and want to congratulate Habitat NYC, Camber Property Group, and Almat Urban for this dynamic, forward-looking proposal.”

 

“This plan to bring 40 low-income homeownership opportunities to the Bronx is a huge win for our city and the residents that will benefit from having affordable housing options in our borough,” said Council Member Vanessa Gibson. “The development on 1640-1642 Anthony Avenue was one of several commitments made as a result of the Jerome Avenue Neighborhood Plan that will help combat growing housing insecurity and bring 100 percent affordable housing to the Bronx. I am extremely proud to see this project come into fruition and I want to thank the New York City Department of Housing Preservation and Development, Community Land Trust, Habitat NYC, Camber Property and Almat Urban for their work on this vital project that will give land ownership back to our community.”

 

The project will result in an 8-story, 100 percent affordable residential building to include a mix of 20 one-bedroom, 16 two-bedroom, and four three-bedroom apartments. Each home will be affordable to households earning up to $93,000 for a family of three and all are fitted with a balcony and installation for washer and dryer units. Communal amenities for residents include a rear yard, community room, wellness gym, and hydroponic center. Additionally, as a part of the development, homeownership education and assistance will be provided to first-time home buyers and residents whose applications have been denied.

 

“We are honored to partner with the City and an incredible development team in creating new homeownership opportunities for hard-working New Yorkers in the Bronx,” said Karen Haycox, CEO, Habitat for Humanity New York City and Westchester County. “Claremont House exemplifies the power of permanently affordable homeownership to transform lives and communities by enabling New York City families to build equity and by ensuring low- and moderate-income New Yorkers have access to owning a piece of their neighborhood for generations to come.”

 

“Affordable homeownership not only provides low and moderate income New Yorkers with quality homes, but also the opportunity to build wealth and equity in their neighborhoods,” said Rick Gropper, Principal of Camber Property Group. “Our project will create 40 low- and middle-income apartments for sale in the west Bronx, fulfilling a key promise of the Jerome Avenue Neighborhood Plan. We look forward to working with our partners at the New York City Department of Housing Preservation and Development, Interboro Community Land Trust, Habitat NYC and Almat Urban to deliver on that promise.”

 

“Almat Urban looks forward to developing Claremont House with our partners, Camber, Habitat for Humanity, SoBro and our architect Robert AM Stern’s office,” said Almat Urban Principal Donald Matheson. “We strive to continue developing the gold standard of affordable housing in the Bronx and New York City as a whole.”

 

"Interboro is proud and excited to partner with Camber, Almat Urban, and Habitat NYC and Westchester – one of our founding organizations and partners – in the creation of 40 affordable homeownership units in the borough with the most dire need for such opportunities,” said John Edward Dallas, Coordinator of the Interboro Community Land Trust. “By placing these new homes on the Interboro CLT, the development team is contributing to growing the citywide stock of permanently affordable homeownership units for current and future lower-income New Yorkers, ensuring the investment collectively made to build Claremont House is an investment in equity-building opportunities for generations of working-class families.”

 

Located on 1640-1642 Anthony Avenue across from Claremont Park, the City-owned vacant site’s transformation into affordable housing advances a key commitment of the Jerome Avenue rezoning. The rezoning is bringing more than $189 million in capital projects and services to the Bronx neighborhood in new and improved parks and playgrounds, pedestrian safety improvements near the Cross Bronx Expressway, business assistance and new schools. Covering a 2-mile stretch of Jerome Avenue, roughly from 167th Street to 184th Street, the rezoning promotes housing, including permanently affordable housing.

 

The City is continuing to make significant investments in affordable housing in the area, preserving 750 homes since the plan was adopted on top of 5,500 units that were preserved during the planning process, and advancing new affordable developments on City-owned sites.

The project is being financed through HPD’s Open Door program, which funds the new construction of affordable cooperative and condominium buildings, as well as, new one to three-family homes. The architect, Robert A.M. Stern Architects, designed the building to connect to the Bronx’s rich architectural history with most homes exceeding the HPD Design Guidelines for unit size. Additionally, the development team will partner with community organizations on a jobs outreach plan to employ local residents on the construction site.

 

A complete rundown of the Jerome-Anthony RFP, including the Jerome Avenue Neighborhood Plan, can be found on the Jerome-Anthony RFP webpage.

 

 

Out of the Pool Back to School Rally - September 18, 2021.

 

115 Days and Counting - School is Open

 

Let me remind you that school is back in session. Be careful when you drive near and around our schools. We have additional speed cameras set up, and the NYC speed limit is 25 MPH, but it is only 20 MPH in a school zone.

I went up to the Bronx today to welcome the children back to school, with Schools Chancellor Porter. Now that we have in school learning, I expect a lot of learning to be done in the last few months of my administration, so I can hand over to the next mayor, Eric Adams a fully functional public school system.

Keeping Alexandria in Congress

 

We want to talk about why this month is so important for our campaign.

At the end of this month, our campaign will submit a public report to the FEC detailing how much we’ve fundraised in the last three months.

As one of the most heavily targeted members of Congress, Alexandria’s report will draw huge attention from political opponents, pundits, and powerful special interests who are hoping to see our movement lose momentum.

Alexandria has spent this past month speaking truth to power: From taking on Texas Governor Abbott over the state’s harmful abortion restrictions, to calling attention to Joe Manchin’s ties with corporate lobbyists and his unwillingness to support the reconciliation budget bill, to pressuring our own party to step up and do a lot more to protect voting rights.

We know that whenever Alexandria uses her voice to call out corruption and fight for the people, those special interests will look for ways to put a stop to our movement.

That’s why it’s critical that September is our best fundraising month yet. The amount of contributions we receive — no matter the amount — will help show that Alexandria and our unapologetic fight for systemic change has strong support — from Bronx and across the country.

Can you make a $3 contribution right now to show your support for Alexandria on this report and help our campaign hit this critical fundraising goal before the end of the month?

Contribute $3

Our movement has always been driven by the dedication of individual, small-dollar donors like you giving an average of just under $20. We’re proud of that fact.

Because when hundreds of thousands of people chip in $5, $10, and $20 at a time, it all adds up to compete against the billionaires and corporations who use their money to rig the political system in their favor.

But, candidly, our fundraising has slowed down since the summer months this year, and we’re relying on your support today to get back on track, hit this goal, and keep Alexandria in Congress fighting for bold solutions for working families.

Can we count on you to chip in $3 or whatever you can right now to help post the strongest FEC report possible and power our movement forward?

This work wouldn’t be possible without you.

Thank you for everything,

Team AOC

Donate

Merch

Council Member Ruben Diaz Sr. - WHERE IS THE HISPANIC SEAT AND WHO OCCUPIES IT AT THE TABLE?

  

You should know that on Friday, September 10, 2021 the following statement was highlighted on the front page of the New York Daily News, “We all have a seat at the Table”. 

 

It is important for you to know that on Thursday, September 9th, NYS Senator Brian Benjamin (an African American) was sworn in by Governor Kathy Hochul as her new Lieutenant Governor. 

 

 You should also know that at the swearing-in ceremony, our newly appointed Lt. Governor Mr. Brian Benjamin said in his speech that "We all have a seat at the table." I respectfully disagree with Mr. Benjamin’s statement.  The Latino Community has NO seat at the table or at any other table. The Hispanic Community only has a seat when needed to protect the seats of others seated at the table. 

 

Lieutenant-Governor Brian Benjamin said that with his appointment “Governor Hochul wants to make sure that we all have a seat at the table.” He continued saying that the governor wants to create a government where “upstate and downstate, every ethnicity, every culture to feel included. Mr. Benjamin went on to say that "for too long people have not felt included, that they have a seat at the table, and that their issue will be brought to the forefront.”

  

It is very important for Mr. Benjamin and Governor Hochul to know that Hispanics have not had a seat at the table.  I must ask, who is this person that occupies the seat which represents the Hispanic community at this table which the Hon. Brian Benjamin speaks of? We can't say that We all have a seat at the table when most of the seats in the counties, in the city, and in the state are occupied by one single ethnic group. 

 

Brian Benjamin should have said that the African American community has come to occupy and now controls most of the relevant seats at said table.  Those seats are that of the Senate leader, Assembly Leader, State Attorney General, Lieutenant Governor and possibly Governor in the not-too-distant future. I congratulate Mr. Benjamin and his Community!! As a member of the Hispanic community, I have a duty, and the responsibility to ask, on behalf of my community, what is obvious. If “we all have a seat at the table”, according to Lt. Gov. Benjamin, where is our seat, and who occupies it?  

 

In the trajectory of the Hispanics in New York City the Puerto Ricans, where the first Hispanic group that has struggled for decades to have a seat at the table. Now decades later the Hispanics are the largest minority in this state. The Hispanic Community with the huge migration of many diverse Hispanic groups from South America, the Caribbean and other Latin Countries, the Hispanic community has become the largest group and should therefore have a seat at the table.  However, we have yet to see one of our own seated at the table that Mr. Brian Benjamin speaks of and has so boldly declared. No Mr. Benjamin this is not so. 

 

I am Councilman Rev. Ruben Diaz, and this is What You Should Know.

Backpack and School Supply Giveaway Outside Bronx Muslim Center.

 

Almost two-hundred backpacks filled with school supplies were given away outside the Bronx Muslim Center on Rhinelander Avenue Sunday. This backpack giveaway was organized by Community Board 11 member Christian Amato, Throggs Neck District Leader John Doyle, and Assemblywoman Nathalia Fernandez.  

Community Board 11 Vice-Chair Yahay Obeid set up the location of the Bronx Muslim Center, a well used building that is at almost full capacity. 

(L-R) Throggs Neck District Leader John Goyle, CB 11 member Christian Amato, Assemblywoman Nathalia Fernandez, and CB 11 Vice-Chair Yahay Obeid. 

Assemblywoman Fernandez gives this backpack to this young girl.

CB 11 member Christian Amato looks for the right grey backpack for this young boy.

Here CB 11 member Amato gives this young girl her backpack, as local Muslim leader Yahay Obeid looks on in apreaction.