Staple Street Capital, a private equity firm located in New York, purchased Dominion Voting systems on July 17, 2018, for an undisclosed amount.
The securities firm that arranged the transaction, UBS Securities LLC, is a division of UBS Americas Inc, which ultimately falls under UBS Group AG, a company listed on the SIX Swiss stock exchange.
Three of four board members of UBS Securities LLC are Chinese according to Bloomberg, at least one of whom appears to reside in Hong Kong.
In 2014 UBS Securities LLC arranged a $200 million private placement for Staple Street Capital II, L.P. a previous company name. Staple Street Capital III, L.P. was founded in 2020. The previous company operated as a private equity fund and used the funds to invest in medium-sized businesses.
Dominion is facing multiple allegations for violating security standards and election manipulation, and it has denied those allegations.
“The company has no ownership ties whatsoever to USB [sic], or the governments of China, Cuba, or Venezuela,” the latest statement updated on Dec. 3 on Dominion website states.
Staple Street Capital made significant changes to its website recently. Information about Team, Executive Board, and Portfolio have all been deleted.
Neither Dominion nor Staple Street Capital has responded to a request for comment from The Epoch Times.
UBS’ Deep Experience in China
UBS says it was one of the “first international banks to have a local presence” in China in the 1990s. In 2012, it formed the current company UBS Securities Co. Limited, which it says is the “first foreign-invested fully-licensed securities firm in China.”
In 2012 UBS Group owned 24.99 percent of UBS Securities China. That increased to 51 percent in December 2018. In its 2019 Annual Report, UBS Group said, “UBS AG is expected to be permitted to increase its stake in UBS Securities China from the current level of 51 [percent] to 100 [percent] from 1 December 2020.”
UBS reported that the decision made by China’s Office of the Financial Stability and Development Committee and the State Administration of Foreign Exchange was made in July 2019.
Updated to include UBS’ experience in China on Dec. 5.