Attorney Lin Wood claimed on Dec. 1 that communist China purchased Dominion Voting for $400 million dollars. Wood published a link to a Securities and Exchange Commission filing, showing Dominion Voting Systems’ parent company receiving $400 million dollars from a Swiss bank subsidiary.
The transaction itself does not directly show what the attorney alleges it to be. However, it does show ties between the voting software company and the Chinese regime.
The transaction happened less than a month before the election.
According to a press release, the party that received the money, Staple Street Capital, acquired Dominion Voting Systems in 2018.
The acquirer calls itself a New York-based, middle-market private equity firm.
The party that paid the money is UBS Securities LLC, a subsidiary of Swiss investment bank UBS.
But UBS is not necessarily the eventual buyer in the transaction.
As an investment firm, it could have just served as a middleman, selling partnership interests of State Street Capital to UBS clients or holding it on behalf of clients through its prime broker.
So how is this related to the Chinese Communist Party?
In another Twitter post, Lin Wood claims the Chinese regime is the majority shareholder of the middleman UBS securities.
Through state entities, China does own much stock of UBS’s Beijing-based subsidiary. But the subsidiary’s name is UBS Securities Co. Ltd, whereas the entity sending money to Dominion is UBS Securities LLC, which is based in New York.
The New York subsidiary is a private firm so its shareholders' information is not open to the public.
However, a closer look into the New York subsidiary shows that among four of its board members, who are appointed by shareholders, three appear to be Chinese.
One of them is Ye Xiang, a Chinese national who also served as a board member of the Beijing-based UBS subsidiary.
The person worked at the Chinese regime’s central bank, the state-owned Bank of China, as well as the Hong Kong government’s financial regulatory agencies.
UBS is the first foreign bank that was allowed to have a fully-licensed securities joint venture in China’s very restricted financial market.
This facilitator of the deal is Chinese vice premier Wang Qishan, who is deemed the most finance-savvy Communist official. He was the mayor of Beijing in 2006 when he met with UBS’s then-chairman Marcel Ospel.
According to Chinese company profiling website Qixin, after the 2020 election, the Beijing UBS went through a major leadership turnover on Nov. 30.
One day before Lin Wood's tweet about UBS, 11 out of its 14 board of directors quit including Ye Xiang.
Another who just quit the board is Cheng Yisun. The former CEO of UBS’s Beijing-based subsidiary and an expert hired in the Chinese Communist Party’s “Thousand Talents Program.”
The U.S. senate deems the program a threat to U.S. national security.
According to the International Consortium of Investigative Journalists, UBS is among the major western banks that played a key role as middlemen in helping Chinese communist officials set up trusts and companies at offshore centers usually associated with hidden wealth.
The SEC filing shows only two transactions related to Dominion’s parent company. Both are from UBS’s New York subsidiary. Other than the $400 million transaction in October. Dominion received $200 million from UBS in 2014.
In a previous voter fraud lawsuit filed by Sidney Powell, a former military intelligence official claims in an affidavit that Chinese operatives had access to Dominion Voting Systems in several key states.