Self‑exiled Chinese billionaire Guo Wengui sentenced to 30 years in U.S. prison for fraud
A federal judge sentenced Guo Wengui to three decades behind bars, ordered restitution of $889 million, and noted the fraud harmed over 1,000 victims worldwide.
Guo Wengui, a self‑exiled Chinese billionaire, was sentenced to 30 years in a U.S. prison for fraud. A federal judge said the scheme cost more than 1,000 people worldwide hundreds of millions of dollars and ordered Guo to forfeit $889 million in restitution. Judge Analisa Torres handed down the sentence, according to WRAL.com.
Prosecutors described the fraud as a billion‑dollar cryptocurrency and investment scheme that targeted Guo’s online followers, according to Times of India. The fraud allegedly affected over 1,000 victims across the globe.
Guo, who is in his fifties, was arrested by the FBI in March 2023 at his luxury Manhattan apartment overlooking Central Park, the Guardian reported. He has said he came to the United States to destroy the Chinese Communist Party, NPR reported, and he denied wrongdoing while indicating plans to appeal, Times of India reported.
According to DW, Guo was a close ally of former Donald Trump aide Steve Bannon and co‑founded a movement aiming to overthrow the Chinese government. The Times of India also reported that Guo visited Donald Trump’s Mar‑a‑Lago club.
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