The Chinese government helped a Los Angeles startup pay for an advanced satellite it ordered from Boeing, and now owns the company, meaning it has access to the restricted technology the satellite uses – the same sensitive technology the U.S. military relies on – according to a report in The Wall Street Journal.
A subsidiary of China Orient Asset Managament in 2015 gave L.A.-based Global IP $175 million through an intermediary – Bronzelink in the Virgin Islands – and acquired 75 percent interest in the company.
China Orient is owned by China's Ministry of Finance. Bronzelink is owned by a Hong Kong businessman.
Emil Youssefzadeh and Umar Javed, the founders of Global IP, said they realized Bronzelink was not truly independent from the Chinese government and quit. A lawsuit followed in 2017, with Youssefzadeh and Javed alleging the China Orient subsidiary, Don Ying Development, fraudulently took over the satellite project.
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4 comments:
Pretty sad for AMERICA when it's leader's and corporations sell us out to our enemies just for a buck. But when we are hung out to dry including them. It'll be TOO late.
Well when only everything revolves around money, what do you expect... It is that each to buy a company, that holds upper level clearance with the govt... So they don't have to actually steal the plans or send in some spy to get them... They have it given to them willingly by our govt...
Just like in the movies......except ITS NOT SUPPOSE TO HAPPEN!!!!!!!!!
HELLO MCFLY????????????????????????????????????
several years ago boeing was warned about selling their aircraft to china. one of the onboard computers had chips in them that could be used for missile technology. the sale was several billion dollars, the fine several million. what do you think boeing did? that's right china got the aircraft with the chips in them. Maybe they ought to have offered the ceo jail time! then this type of crap will stop!
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