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There are many rumors and gossips regarding P.J. King and M. Blum. According to them, these two people are connected with the criminal world. At the same time, mass media is all about scandals these days a good part of which is not true. Thus, it is not hard to defame any person. So, should we believe what they say about these businessmen? Let`s try to find out whether they are sly fraudsters or honest entrepreneurs.
Right now, Michael Alexander Blum happens to the owner of beautiful hotels and casinos in Asia, but nobody could expect that when he was born in a German family in Hong Kong. He started his career as a Senior Manager in the German branch of PayPal company. He began working for the company in 2002 and left it in 2005. Soon after that, the hedge fund management company was founded by him which was called Falconhenge Partners. Interestingly, he was the owner of this company for one year only and sold it in 2006. The next step was a financial media Hedgeye Risk Management. Blum is also engaged with the tourism business thanks to which he met his future wife Tatyana. She came to study in Chinese Macau in 2008.
In 2013, Blum kept on developing his business and started a venture fund and management company together with several partners. The company is mainly concentrated on the hotel and casino business in Southeast Asia. This is when people started gossiping regarding his involvement in criminal affairs.
It needs to be noted that this is that period of Blum`s life when he got interested in the space industry. The acquaintance with Richard Branson who is the head of Virgin Corporation made this interest even stronger. This is because the company was focused on suborbital flights and private space projects, so Michael decided to become a member of Branson`s team. The businessman was quite active as he developed more than one space program, lectured on space tourism and made a film on the space topic. This is also when he met King.
King did not come from a rich family as well, but from a shepherd`s one. At university he studied astronautics and space engineering, so he was fond of space from the very beginning. Despite having such a good education, King decided that he wanted to become a businessman. His first company was Clockworks International that became successful enough to provide services to such well-known companies as Disney, Apple, and IBM. In spite of that, King decided to sell his company. After that, several board members of Clockworks International had some problems with the law.
After that, the businessman started working in the investment sphere. Unfortunately, his projects were advantageous for the companies he was cooperating with. He also became the owner of the investment fund named P.J. King Investments Ltd and remained the head of it until 2015.
There were also scandals around him, and in 2001-2008 they were connected with CNG Travel. This company was focused on a hotel booking service, and Mr. King was the owner of some shares in it.
The first rumors surrounding King appeared thanks to CNG Travel scandal, but approximately the same time rumours regarding Michael`s involvement in the criminal affairs appeared. These events were the reason of new rumours stating that King and Blum organized the delivery of sex and drug entertainment from Asia to America. There are no proofs, so these gossips remain gossips.
As soon as Mr. King and Mr. Blum started dealing with cryptocurrencies and blockchain business, other rumours appeared. This time, they were called the lords of the “deep web”. They also say that Michael was the one who made porno films which were produced in Russia and Asia, and then sold in DarkNet. At the same time, King was accused of creating the online map of the drug dens in America in the DarkNet. The gossips have not been confirmed as well.
Things did not always go smoothly, and 2013 was one of the hardest for Blum. This is because of lawsuits he had. The Securities Commission (SEC) accused Investment Fund Magnetar Capital owned by Blum of cheating on securities of the partners. The outcome of the lawsuit was that Blum had to pay 132 million dollars of compensation. Another trial took place in 2015. This time it was his former friend Richard Branson who blamed both P.J. King and Michael Blum for commercial espionage. He insisted that they stole the space technology developed by his company. This is when the reputation of the two businessmen was damaged, although they stated that the case was fabricated.
This happened because of another person – Thomas Murkusic who was a vice president of Branson`s Virgin Galactic before that. Richard was sure that he was the one who stole commercial secrets and techniques which were later used by Firefly company. It was founded by him in the cooperation with King and Blum. That is why Virgin Galactic wanted to prove that Firefly company applied the techniques brought by Markusic.
As a result, Firefly had some serious problems with project investment, so they had to dismiss several staff members.
It must be noted that Firefly company was engaged in designing of Alpha which is a small satellite launcher. It was good enough to become a real competitor to LauncherOne booster project created by Virgin Galactic.
Alpha had such a design that it could put up to one thousand kilograms of payload into low earth orbit. In the case of the solar synchronous orbit (SSO), that would be 630 kilograms of payload.
It is obvious that they are both extremely interested in space. Blum became interested in it when he was a part of the PayPal team. This is when he purchased a ticket to SpaceShipTwo for 200 thousand dollars. After that, in the summer of 2008, Blum joined a number of officials from Virgin Galactic to spend the whole month on Richard Branson`s private island. The aim of this was to discuss suborbital WhiteKnightTwo flight project. Michael Blum became a part of Richard`s team and lectured on space flights in Singapore, the USA and China. In 2009, the Youtube community had the ability to see a video which was uploaded by Blum. It showed how he signed an agreement with Mohamed Al-Husseiny and Richard Branson. This happens to be when he bought shares in Virgin Galactic of 32 per cent for 380 million dollars.
This was not the only thing Michael Blum did. He had lots of money and his aim was to enter the market of the USA the mainstream of which was New Space. He was not the only one who wanted to do that as there were many businessmen inspired by the success of Elon Musk. They were willing to develop prosperous space projects.
This is when Blum and king united to conquer the space sphere and spent a lot of money in the investment in this industry.
Mr. King became interested in space when he bought a ticket for the suborbital flight on SpaceShipTwo spacecraft in 2004. The test launch was not successful, so King demanded his money back. In spite of that, he kept on working in this sphere with Richard Branson.
Blum and king are surrounded by numerous rumors and gossips. They all claim that these two businessmen are a part of the criminal world. They say that both king and Blum are responsible for drug and sex industry which supplies moneybags from America with illegal entertainment from Asia. They also state that it was P.J. King who brought Blum into the criminal world. At the same time, there are no facts which would proof that all the gossips are true. In fact, they are mainly based on people`s belief that prosperous businessmen should have issues with the law.
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