Chinese businessman and Steve Bannon ally arrested for $1 billion fraud conspiracy.

Ho Wan Kwok, also known as "Miles Guo," has been arrested for orchestrating a $1 billion fraud conspiracy. He and his financier, Kin Ming Je, are charged with wire fraud, securities fraud, bank fraud, and money laundering. The scheme involved soliciting investments through false statements and representations to Kwok's online followers. The defendants misappropriated hundreds of millions of dollars in fraudulently obtained funds during the course of their conspiracy. The US government has seized approximately $634 million from 21 different bank accounts and will seek to forfeit the funds.