Chinese Billionaire Guo Wengui Convicted in $1 Billion Fraud Scheme
TL;DR Summary
Self-exiled Chinese billionaire Guo Wengui was convicted by a U.S. jury of defrauding his followers out of over $1 billion through bogus investments, using the funds to support a lavish lifestyle. Guo, who fled China in 2014 and sought asylum in the U.S., was found guilty on nine of 12 criminal counts, including racketeering conspiracy. His defense argued that the prosecution lacked concrete evidence, but the jury sided with the prosecution's claims of Guo's extensive fraud schemes.
- Self-exiled Chinese billionaire Guo Wengui convicted of defrauding followers after fleeing to US The Associated Press
- Chinese Tycoon Guo Guilty in US of $1 Billion Investor Fraud Bloomberg
- Chinese Billionaire and Bannon Ally Is Convicted of Fraud The New York Times
- Chinese business tycoon convicted of defrauding followers in $1bn scheme The Guardian
- Chinese dissident Guo Wengui guilty of racketeering, fraud in $1 billion scheme Courthouse News Service
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