Fugitive Chinese Billionaire Guo Wengui Convicted in U.S.
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Fugitive Chinese billionaire Guo Wengui has been convicted by a U.S. jury this week in a billion-dollar fraud case and is expected to face decades in prison, following a months-long investigation into the businessman-turned-influencer who fled China around 10 years ago.
Guo, also known as Kwok Ho Wan or Miles Kwok, was found guilty on nine of the 12 federal criminal charges against him, including racketeering conspiracy, money laundering and multiple frauds, according to a transcript of the Tuesday hearing held at the U.S. District Court in the Southern District of New York.
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- Guo Wengui, a fugitive Chinese billionaire, was convicted in the U.S. for a billion-dollar fraud, facing up to 20 years in prison.
- He was found guilty on 9 out of 12 charges, including racketeering, money laundering, and fraud, with sentencing set for Nov. 19.
- His former associates, including Yvette Wang and William Je, also faced legal actions related to the fraud schemes.
- 2014：
- Guo Wengui fled China to avoid a corruption-related investigation.
- 2017：
- Beijing confirmed that Interpol issued a red notice seeking Guo’s arrest for alleged money laundering, bribery, and fraud.
- May 2019：
- Guo Wengui and Stephen Bannon's cooperation began with a $150,000 loan to Bannon.
- August 2020：
- Stephen Bannon was arrested on a mega-yacht belonging to Guo and charged with defrauding donors in an online campaign to help build a wall on the Mexican border.
- March 2023：
- Guo Wengui was arrested and detained. Criminal charges were also announced against his financial adviser William Je.
- May 2024：
- Yvette Wang, Guo’s former chief of staff, pleaded guilty to wire fraud and money laundering.
- Tuesday, July 16, 2024：
- Guo Wengui was found guilty on nine federal criminal charges.
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