Exiled Chinese Billionaire Guo Wengui Convicted in $1B Fraud Scheme
TL;DR
Self-exiled Chinese businessman Guo Wengui has been convicted by a US court of defrauding his online followers in a billion-dollar scam, facing nine criminal counts including racketeering, fraud, and money laundering. Guo, a critic of the Chinese Communist Party and associate of Stephen Bannon, raised over $1 billion from followers for investment and cryptocurrency schemes to fund his lavish lifestyle. He faces sentencing on 19 November and could receive decades in prison.
- Guo Wengui: Chinese businessman found guilty in US over $1bn scam BBC.com
- Executive with ties to Bannon convicted in billion-dollar fraud scheme The Washington Post
- China Tycoon Who Angered Beijing Found Guilty of Fraud in New York The Wall Street Journal
- Exiled Chinese tycoon Guo Wengui convicted in billion-dollar fraud scheme USA TODAY
- Exiled Chinese billionaire Guo Wengui found guilty on federal fraud charges CNN
Want the full story? Read the original reporting
Read on BBC.com