Exiled Chinese Tycoon Guo Wengui Convicted in $1 Billion Fraud Scheme
TL;DR Summary
Exiled Chinese businessman Guo Wengui, who had ties to former White House adviser Stephen Bannon, was convicted of defrauding his online followers of over $1 billion. Guo used the funds to support a lavish lifestyle, including purchasing a yacht and a mansion. He was found guilty on nine of 12 counts and faces decades in prison. Guo's sentencing is scheduled for November 19.
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- China Tycoon Who Angered Beijing Found Guilty of Fraud in New York The Wall Street Journal
- Chinese Tycoon Guo Guilty in US of $1 Billion Investor Fraud Bloomberg
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