Billionaire Rebel Falls: Guo Wengui, former associate of Steve Bannon, Gets 30 Years After $1 Billion Fraud Unravels!

Chinese billionaire Guo Wengui…also known as Ho Wan Kwok, Miles Guo, and Miles Kwok…has been sentenced to 30 years in U.S. federal prison for orchestrating a massive financial fraud scheme. A New York judge found him guilty on nine counts, including wire fraud, securities fraud, bank fraud, and money laundering.

Guo, a self‑exiled critic of the Chinese Communist Party and former associate of Steve Bannon, promised followers huge investment returns but instead used more than $1 billion of their money to fund an extravagant lifestyle of mansions, yachts, race cars, designer clothing, and luxury furnishings. Over 1,000 victims worldwide lost hundreds of millions.

Judge Analisa Torres ordered Guo to forfeit $889 million and condemned him for preying on people seeking democracy in China. Victims testified that his actions “destroyed” their lives. Prosecutors said Guo showed no remorse and even encouraged supporters to harass critics.

Guo claims he is being persecuted by the Chinese Communist Party and portrays himself as a whistleblower. China’s Ministry of Foreign Affairs noted the sentencing and said Guo remains wanted on an Interpol Red Notice.

Original article here: https://www.nbcnews.com/news/crime-courts/guo-wengui-china-billionaire-sentenced-jail-fraud-rcna352356

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