The New York Times reports that Guren 'Bobby' Zhou, previously investigated for money laundering, bought $100M in tokens from World Liberty Financial, with $75M going to Trump family.
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The New York Times reports that Guren “Bobby” Zhou, a UK businessman previously investigated for money laundering, bought $100 million worth of tokens from the Trump family’s World Liberty Financial crypto project.
Zhou made the purchases through a firm called Aqua 1. Two years earlier, he was a failed hardwood flooring retailer in Britain. He had come under investigation there for money laundering and presided over the collapse of a small crypto start-up.
Under World Liberty’s policy, as much as $75 million of that money was distributed to a company controlled by President Donald Trump and his three sons, the Times said.
A spokesman for World Liberty said the project maintains “a compliance program that meets or exceeds industry standards.”
It is not clear how closely World Liberty scrutinized Zhou’s past. The money laundering investigation in England was publicly available information. Even now, the source of the money that Zhou paid to World Liberty remains a mystery, the Times reported.
Zhou told the Times: “We’re very proud to be a major player in the World Liberty, which is Trump’s family’s crypto venture.”
The report raises questions about the due diligence procedures of token projects that accept large sums from anonymous or lightly screened investors. No charges have been filed against Zhou in connection with the World Liberty purchases.
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