TRUMP ADMINISTRATION SET TO RECEIVE $10 BILLION FOR FACILITATING TIKTOK DEAL. (PHOTO).

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 Trump administration set to receive $10 billion for facilitating TikTok deal The Trump administration is reportedly set to receive $10 billion for its role in securing the TikTok US deal. According to reports, the group of investors that acquired stakes in TikTok’s U.S. operations—known as TikTok USDS Joint Venture—already paid $2.5 billion when the deal closed in January, with additional payments scheduled until the total reaches $10 billion. The investors include Oracle, Silver Lake, and MGX. The U.S. entity of TikTok was valued at $14 billion by Vice President JD Vance, providing context for the size of the fee. The administration has a history of involvement in major corporate deals, including an $8.9 billion investment in Intel last year that yielded nearly a 9 percent equity stake. In another high-profile move, the Trump administration received a Boeing 747-8 as a gift from the Qatari government in May.
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BANK OF ZAMBIA EXPRESSED CONCERN OVER IT'S CITIZEN'S PARTICIPATION IN FRAUDULENT FINANCIAL SCHEMES. (PHOTO). #PRESS RELEASE.

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 The Bank of Zambia has expressed concern over the continued participation of members of the public in fraudulent financial schemes worries Bank of Zambia


BOZ Assistant Director Communications Besnat Mwanza says the schemes typically promote investment options that promise abnormally high returns.

READ PRESS RELEASE BELOW:

Bank of Zambia


PRESS STATEMENT


WARNING AGAINST MONEY CIRCULATION SCHEMES


The Bank of Zambia has observed, with concern, the continued participation of members of the public in fraudulent financial schemes. The schemes typically promote investment options. that promise abnormally high returns. Countless citizens continue to lose their hard-earned money to such schemes.


The Rank reiterates that any person who conducts or participates in a money circulation scheme or issues a notice, circular, prospectus, proposal or other document inviting the public to subscribe to a money circulation scheme commits an offence. Promoting such schemes contravenes, among others, Section 157 of the Banking and Financial Services Act which states that, "a person who conducts or participates in a money circulation scheme commits an offence and shall be liable to prosecution."


Members of the public are, therefore, encouraged to be on the look-out and report any suspicious financial institutions to law enforcement agencies. They are particularly encouraged to only deal with licensed financial service providers when making investments. This is the first step in safeguarding one's money.


Unlicensed institutions perpetrating fraudulent financial services and products and members of the public participating in such schemes are warned that they do so at the risk of prosecution.


The following are the institutions licensed by the Bank of Zambia:


Commercial Banks


Non-Bank Financial Institutions


Payment System Institutions


Issued by


An


Besnat Mwanza


Assistant Director-Communications


May 23, 2024

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