Kyle Bass’s Disastrous Hong Kong Short Got Bannon-Linked Cash

(Bloomberg) — A recent U.S. Securities and Exchange Commission case reveals how Kyle Bass’s bet against the Hong Kong dollar has fizzled: He’s lost big, ensnaring some investors who funded his short through what the regulator says was an illicit stock offering.

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The details were laid out in a September SEC enforcement action that describes illegal financing of an ambitious startup that sought to expose corruption involving Chinese government officials. The startup…

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