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Daughter borrowed money to gamble and lose 600 million!  The heroic dad said "I have 26 rooms" sold out and sold for 900 million

A 31-year-old woman from Zhejiang, mainland China borrowed 140 million yuan (RMB, the same below, about NT$600 million) to gamble in Macau, and was eventually charged with fraud. Regarding the jailed daughter and the billions in gambling debts, the father of the woman said, "I have 26 rooms for 8 million each, so I have almost 200 million (about NT$900 million) to get it back." According to the "Beijing Youth Daily" report, Zhejiang Province recently tried a fraud case involving a total of 140 million yuan. The defendant Lu Xiaoqin borrowed 140 million yuan to go to Macau for gambling. Because all the loans were lost, the repayment agreement failed to reach an agreement, and the other party was sued for fraud. On the day of the trial, Lu Xiaoqin has always said that he did not owe debts. The case was at most an economic dispute, not an intentional fraud. Before being arrested, he had repaid the victim Xu Xuguang more than 70 million yuan. After being arrested, his p...

Zhang Dade, the former chief engineer of Angang Group, was expelled from the Party for spreading false discussions about the central government's vilification of the state article

The website of the Central Commission for Discipline Inspection announced on June 18 that the disciplinary committee of Angang Group Co., Ltd. and the Supervisory Commission of Guang'an City, Sichuan Province, had conducted a disciplinary review and supervision investigation into the suspected serious violations of discipline and law by Zhang Dade, the former chief engineer of Angang Group Co., Ltd. The report stated that Zhang Dade violated political discipline, spread articles that deliberately discussed the major policies of the "Party Central Committee" and vilified the image of the "Party and the State". "Censorship, collusion with others and transfer and conceal stolen money and stolen goods. The report also stated that Zhang Dade violated life discipline, lived extravagantly, coveted pleasure, pursued low-level tastes, maintained improper sexual relations with others for a long time, did not pay attention to family traditions, and neglected his spous...

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Payoneer to Become a US Publicly Traded Company

Payoneer Inc., the global payment and commerce-enabling platform which powers growth for millions of digital businesses worldwide, and FTAC Olympus Acquisition Corp., a special purpose acquisition company, have announced they have entered into a definitive agreement and plan of reorganisation. Upon closing of the reorganisation, the newly created holding company will be renamed Payoneer Global Inc. and the combined company will operate as Payoneer, a US publicly listed entity. The Company is expected to have an implied estimated enterprise value of approximately $3.3 billion at closing, based on current assumptions. Payoneer’s management team will continue to lead the Company. Payoneer has been backed by investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more. Payoneer’s mission is to democratise access to financial services and drive growth for digital businesses of all sizes from around the world. Payoneer was foun...

Israel’s Payoneer to Go Public on Nasdaq at $3.3 Billion Valuation

Israeli fintech powerhouse Payoneer Inc. announced on Wednesday that it has entered into a definitive agreement with Nasdaq listed SPAC FTAC Olympus Acquisition Corp (FTOC). Once the reorganization is complete, the merged company will begin trading at an implied estimated enterprise value of approximately $3.3 billion. Payoneer currently holds $100 million in its balance and FTOC has raised $750 million for the merger, including commitments for $300 million in PIPE from an investor group. An estimated $450 million will be used to purchase secondary options from existing shareholders, managers, and employees. Roughly $100 million will be used by the company for various expenses and the rest, roughly $500 million, will be invested in its operations. Among the investors expected to pour money into the company are existing backers Wellington Management and additional investors Dragoneer Investment Group, Fidelity Management & Research Company LLC, Franklin Templeton, certain funds mana...

FTAC Olympus Acquisition Corp. Shareholders Approve Proposed Business Combination with Payoneer

FTAC Olympus Acquisition Corp. (NASDAQ: FTOC) ("FTOC"), a special purpose acquisition company, today announced that FTOC shareholders voted to approve the proposed business combination with Payoneer Inc. (“Payoneer”), the commerce technology company powering payments and growth for the new global economy, at its Extraordinary General Meeting held today, June 23, 2021. “We are thrilled with the overwhelming support from our shareholders, and also pleased that we’ve received all regulatory approvals needed to close the transaction. We look forward to supporting Payoneer as it enters the public markets” More than 97.8% of the votes cast at the meeting voted to approve the business combination. Holders of approximately 65.0% of FTOC's issued and outstanding shares cast votes at the Extraordinary General Meeting. As previously announced, the combined company will be named Payoneer Global Inc., and its common stock and warrants, is expected to begin trading on the Nasdaq stock ...

Payoneer Announces Agreement with eBay

eBay continues to manage payments in more countries with the support of Payoneer Payoneer, the global payment and commerce-enabling platform which powers growth for millions of digital businesses worldwide, announced today that it is collaborating with eBay to enable sellers in select countries to get paid for their sales on eBay’s core marketplace. eBay has teamed up with Payoneer as part of its mission to modernize its marketplace, removing complexities and creating a more streamlined payment experience for sellers around the world. With the help of Payoneer, eBay sellers will benefit from faster access to funds, greater flexibility managing multi-currency payments and expanded reach by enabling sellers to list on multiple international eBay sites. Effective April 2021, Payoneer is managing payouts for eBay sellers from Greater China as eBay expands its management of payments around the globe. eBay and Payoneer intend to expand the service to additional countries later in the year. F...