Wells Fargo

Online rumors allege Wells Fargo, via a cross-border factoring program led by “Mao XX,” funneled billions overseas to Chinese firms like Xiaomi and Nio. Both Xiaomi and Nio have vehemently denied any involvement with Wells Fargo or “Mao XX,” stating they’ve never cooperated or had contact. They are pursuing legal action against those spreading the false claims. These unverified accusations have generated online debate regarding misinformation and accountability.