REUTERS - Mar 29 - When Grindr's Chinese owner sold the app to an investor consortium last year to comply with a U.S. national security panel order, the parties to the deal gave information to authorities that contradicted disclosures to potential investors and Chinese regulators. They told the Committee on Foreign Investment in the United States (CFIUS) that James Lu, a Chinese-American businessman who is now Grindr's chairman, had no previous business relationship with a key adviser to the seller, a man named Ding'an Fei. Fei, a former private equity executive, was acting as an adviser to Beijing Kunlun Tech Co Ltd, Grindr's owner at the time, on the deal, the documents show. The duo had also done business together in other ventures. This could lead to civil penalties and criminal charges under the false statement provisions of the U.S. penal code.
by Echo Wang
See full article at Reuters
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