> ...and then the MSS got involved for access and blackmail.
If you look at Megaspeed, it has Chinese state asset written all over it.
If you look at Megaspeed, it has Chinese state asset written all over it.
2. The company was originally set up as the subsidiary of a Chinese gaming company.
3. When the US added stricter export controls for Nvidia chips in 2023, it was spun off and ownership reportedly moved to a BVI shell company.
4. Later it was sold to a company that is apparently owned by one person who is believed to live in China.
5. The Singapore offices of the company and others he is an owner or director of show little activity and according to one report, the co-working space at the address listed for one didn't even have a record of the company.
6. Despite the fact that Megaspeed showed less than $6 million in cash at the end of 2023, it somehow became an Nvidia Cloud Partner and between 2024 and 2026 purchased $4.8 billion worth of advanced Nvidia chips, making it the top Nvidia chip buyer in ASEAN.
This company was on the radar of people in the industry well before this scandal because basically nobody had any idea who it was and where the money was coming from.
https://en.thairath.co.th/money/tech_innovation/tech_compani...
Very "normal" for what? None of this is "normal" for a legitimate company supposedly running a neocloud business on $4+ billion worth of Nvidia chips.
Singapore-based companies with this type of footprint run by Chinese nationals are almost always fronts for shady stuff.
I don't know what sort of work you do/what industry you're in, but that's not how legitimate business operates in the region.
As I stated, tax avoidance is real, but if you're seeing a bunch of money moving between networks of shell companies set up by Chinese nationals and the economic substance isn't apparent, ghost offices that close and pop up overnight, etc., what you're seeing is not legitimate business.
These are the hallmarks of money laundering. The structures and transactions serve no legitimate purpose and would only complicate matters and increase costs for a legitimate business.
These structures and transactions are designed specifically to obscure ownership, hide the origins of illicit funds and stay one step ahead of law enforcement.
2. If a business unit becomes successful and is spun off, the ownership of the new entity is not obscured. Haier will own a piece of the new company, as will the employees, and outside investors can be brought in to provide capital.
3. Money doesn't move between economic shells. Transactions between entities have clear economic substance because they're not designed to layer and place illicit funds.
4. If you go to an office, there will be real people working. There aren't collections of ghost offices that come and go overnight.
Bottom line: legitimate enterprises don't have structures that obscure ownership and exist only to facilitate transactions that make it hard to trace where money is coming from and going to. They have structures that serve a clear economic purpose.
Yet still they sold them the chips. Shows just how much Nvidia care about the restrictions placed on their clients.