The Second Tranche Distribution in connection with the GTV Media Group Fair Fund commenced for eligible investors on Friday, September 29, 2023. Please note that the release of payments is ongoing, and all distribution payments will be made accordance with the terms in the Plan of Distribution.

Please note that the stale date for all checks issued in connection with the Second Tranche Distribution is Thursday, December 28, 2023.

Important: The deadline to resolve all outstanding deficiencies for claims is Thursday, November 30, 2023. Any responses submitted after this date will not be accepted.

This website provides information about the U.S. Securities and Exchange Commission’s (“SEC”) distribution of the GTV Media Group Fair Fund (‘Fair Fund’).  Persons who purchased or otherwise acquired GTV common stock (“GTV Stock”) and/or the digital asset security referred to as G-Coins or G-Dollars (the “Digital Asset”) (collectively, the “Securities”) that were offered to investors during the Relevant Period(s), suffered a Recognized Loss pursuant to the Plan of Allocation, and who are not an Excluded Party, may be eligible for a distribution from the GTV Media Group Fair Fund.

G Entities Security and Relevant Period(s) (Inclusive)

The information contained on this website is a summary of the information presented in more detail in, among other things, the Plan of Distribution (the “Distribution Plan”) approved by the SEC, of which you can review through the “Important Documents” tab on this website.

You should visit this website often to get the most up-to-date information on the GTV Media Group Fair Fund (“Fair Fund”).

Overview

The Cease-and-Desist Proceeding

The SEC issued a Proposed Plan of Distribution (the “Proposed Plan”)  The Proposed Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of disgorgement, prejudgment interest, and civil money penalties paid by GTV Media Group, Inc. (“GTV”), Saraca Media Group, Inc. (“Saraca” and together with GTV, the “G Entities”), and Voice of Guo Media, Inc. (“VOG”) (collectively, the ”Respondents”) in the above-captioned matter.

As described in the documents, the Proposed Plan seeks to compensate investors who were harmed by the Respondents’ conduct described in the Order, in connection with their acquisitions or purchases of two unregistered securities - GTV Stock and the Digital Asset (collectively, the “Securities”).  As calculated using the methodology detailed in the Plan of Allocation, which can be found in Exhibit A to the Proposed Plan, investors will be compensated for their losses on investments in the Securities that were purchased between April 2020 and June 2020.  In the view of the Commission staff and the Fund Administrator, this methodology constitutes a fair and reasonable allocation of the Fair Fund.

The SEC has custody of the Fair Fund and shall retain control of the assets of the Fair Fund.

Background

On September 13, 2021, the SEC issued an order instituting and simultaneously settling cease-and-desist proceedings against the Respondents (the “Order”).  In the Order, the Commission found that from approximately April 2020 through June 2020, Respondents generally solicited thousands of individuals to invest in the GTV Stock offering and the Digital Asset offering.   Respondents collectively raised approximately $487 million from more than 5,000 investors, including individuals in the United States.

The SEC found Respondents disseminated information about the two offerings to the general public through publicly available videos on two G Entities’ websites and on social media platforms such as YouTube and Twitter. With respect to the GTV Stock offering, the SEC found Respondents provided prospective investors with access to Google Drives that contained investment agreements and wire instructions for investors to send funds to purchase securities.  According to the Order, the G Entities also solicited investments in the Digital Asset offering on the G Entities’ public websites, social media platforms, and mobile applications.

The SEC further found that the G Entities promoted the purchase of the Digital Assets as an investment with a likelihood of significant returns based on the G Entities’ ability to develop an online platform through which investors would be able to transact using either G-Coins or G-Dollars. According to the Order, the G Entities had not developed or distributed the Digital Assets or a platform that would allow users to transact with or sell digital assets.

The SEC ordered the Respondents to pay $486,745,063 in disgorgement, $17,688,365 in prejudgment interest, and $35,000,000 in civil money penalties, for a total of $539,433,428, to the SEC.  To date, the Respondents have paid a total of $455,439,194.49.  The SEC also created the Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties paid, along with the disgorgement and interest paid, can be distributed to harmed investors.

The GTV Media Group Fair Fund

The Fair Fund consists of the $455,439,194.49 paid by the Respondents to date.  Any additional funds collected from the Respondents, pursuant to the Order will be added to the Fair Fund.  The Fair Fund has been deposited at the United States Department of the Treasury’s Bureau of the Fiscal Service (“BFS”) for investment.

On April 7, 2022, the SEC approved a plan for the distribution of the GTV Media Group Fair Fund (the “Plan”).

You can view and download a copy of the SEC’s Orders through the “Important Documents” tab on this website.