US EditionSelf-exiled Chinese billionaire Guo Wengui convicted of defrauding followers after fleeing to US
- Guo Wengui, a self-exiled Chinese business tycoon critical of the Communist Party, was convicted in the US of fraud to live luxuriously, exploiting devoted followers.
- Interrelated schemes by Guo to defraud followers resulted in $1 billion invested and a life of excess in a mansion, Lamborghini, and yacht.
- Guo was found guilty of spouting lies to deceive followers for financial gain.
67 Articles
67 Articles
Chinese tycoon Guo Wengui convicted of fraud in the US
A wealthy Chinese businessman Guo Wengui, a self-styled opponent of the authorities in Beijing, was found guilty of defrauding customers of more than $1 billion in a New York federal court on Tuesday, prosecutors said. Guo presented himself as a fierce critic of the Chinese Communist Party and a fervent defender of democracy, while keeping links with US right-wing figure Steve Bannon, recently jailed in a separate case.
Chinese billionaire convicted of fraud
NEW YORK— Guo Wengui, a self-exiled Chinese business tycoon whose criticism of the Communist Party won him legions of online followers and powerful friends in the American conservative movement, was convicted by a U.S. jury Tuesday of engaging in a massive multiyear fraud that ripped off some of his most devoted fans. Once believed to be among the richest people in China, Guo was arrested in New York in March of 2023 and accused of operating a r…
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