Trump’s media business is working with Arc Capital, a Chinese firm with history of SEC investigations

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Arc Capital and an affiliated firm, Arc Group, have attempted to capitalize on this investment wave, becoming an adviser to at least 15 blank check companies in recent years, according to a review of regulatory filings. On several SPAC deals, including Digital World Acquisition, Arc has served as the sponsor, which is usually the firm that puts up the initial capital to hire lawyers, brokers and a management team in exchange for getting a sizable portion of the company that ultimately goes public.

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