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A company with ties to an Arcadia city councilman recently launched a digital currency that displays a wide range of Internet marketing material containing what the official claims is his falsely attributed endorsement of the financial investment product. Gemcoin’s numerous websites also contain endorsements of the investment product that are attributed to Wuo, who is prominently billed as the mayor of Arcadia. Several Gemcoin webpages include hyperlinks to his biography on the city’s website. Gemcoin websites and a statement recounting a press conference last September in which Gemcoin founder Steve Chen unveiled the digital currency to the global investment market. Wuo was first elected to the council in 2002 and completed his most recent stint as mayor in April. We help resident to solve problems. USA is like other countries, with relationship it is easier to get things through.
Wuo, who has been in China for the last two weeks, denied making those flattering remarks about Gemcoin and said he intends to demand that the cryptocurrency’s marketing department excise his image and statements from the numerous promotional websites. Wuo said in a phone interview. Wuo said, adding that he has no financial interest in and hasn’t received any compensation from the companies connected to Gemcoin, nor is he a Gemcoin investor. Wuo, though he acknowledged his presence at the Singaporean event and other Gemcoin promotional gatherings over the last several months. Gemcoin is the creation of Arcadia-based companies USFIA Inc.
US Fine Investment Arts, and its parent Alliance Financial Group, or AFG. Both companies are connected to the US-China Consultation Association, which like AFG and USFIA is located in a posh office complex at 135 E. Wuo and Chen are described as UCCA board members on the organization’s website and throughout Gemcoin’s plethora of online promotional copy. Solomon Yang is listed as UCCA chairman. Wuo confirmed his UCCA affiliation and that he has had business relationships with Chen and Yang.
The council member said he has known Chen, who is the CEO of USFIA and AFG, for two years and has worked with Chen as a real estate consultant. Wuo said he has known Yang for seven years and confirmed the two worked together at Wuo’s now defunct Golden Apple Group International Inc. An online business profile describes Yang, an Arcadia stakeholder, as the chairman of Golden Apple and notes his extensive experience with international securities and real estate investing. In addition to glowing endorsements attributed to Wuo, Gemcoin marketing material also contains quite a few bold claims of sizable profits and investment stability.