UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 95732 / September 12, 2022

ADMINISTRATIVE PROCEEDING

File No. 3-20537

In the Matter of

GTV Media Group, Inc., Saraca 

Media Group, Inc., and Voice of 

Guo Media, Inc.,

Respondents.

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ORDER DIRECTING 

DISBURSEMENT OF FAIR FUND

On January 31, 2022, the Division of Enforcement, pursuant to delegated authority, 

published a Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”),1

pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans 

(“Commission’s Rules”),

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and simultaneously posted the Proposed Plan of Distribution (the 

“Proposed Plan”). The Notice advised interested persons that they could obtain a copy of the 

Proposed Plan from the Commission’s public website or by submitting a written request to Noel 

Gittens, United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC 

20549-5876. The Notice also advised that all persons desiring to comment on the Proposed Plan 

could submit their comments, in writing, within 30 days of the Notice. The Commission 

received 255 comments on the Proposed Plan during the comment period. On April 7, 2022, 

after thorough review and substantial consideration, the Commission issued an order approving 

 

1

 Exchange Act Rel. No. 94107 (Jan. 31, 2022).

2

 17 C.F.R. § 201.1103.
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the Proposed Plan without modification,3and posted the approved Plan of Distribution (the 

“Plan”).

The Plan provides for the distribution of the Fair Fund, plus accumulated interest, less 

taxes, fees, and expenses, to harmed investors according to the methodology set forth in the Plan. 

Because of the magnitude of this distribution and the foreseen challenges in obtaining 

information and verification of claim amounts, the Plan provides for a two-stage distribution. 

Pursuant to the Plan, the initial tranche (“Initial Tranche”) of the Net Available Fair Fund4is to 

be disbursed to those claimants whose claim forms have been fully processed, and whose 

Recognized Loss, as calculated pursuant to the Plan of Allocation, is determined to exceed 

$50.00. Payments disbursed in the Initial Tranche represent at least 50% of the Payee’s 

Recognized Loss.

Pursuant to the Plan, the Fund Administrator has submitted a payment file to Commission 

staff with a reasonable assurances letter as to the completeness and accuracy of the information 

contained therein. The Commission staff has reviewed and accepted the payment file and 

requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6), 

that the Commission authorize the transfer of $77,915,851.58 from the Fair Fund to the Fair 

Fund’s escrow account at The Huntington National Bank for distribution by the Fund 

Administrator in accordance with the Plan to those Eligible Claimants deemed to be Payees in 

the Initial Tranche of this distribution.

Accordingly, it is hereby ORDERED, that Commission staff shall transfer 

$77,915,851.58 from the Fair Fund to the Fair Fund’s escrow account at The Huntington 

 

3

 Order Approving Plan of Distribution, Exchange Act Rel. No. 94628 (Apr. 7, 2022).

4

 All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Plan.
3

National Bank, and the Fund Administrator shall distribute such monies to the Eligible Claimants

deemed Payees in the Initial Tranche in accordance with the Plan. 

For the Commission, by the Division of Enforcement, pursuant to delegated authority.5

Vanessa A. Countryman

Secretary 

 

5

 17 C.F.R. § 200.30-4(a)(21)(v).