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Chinese Billionaire

All articles tagged with #chinese billionaire

crime1 year ago•4 min saved

Chinese Billionaire Guo Wengui Convicted in $1 Billion Fraud Scheme

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.

via The Associated Press|

#chinese-billionaire #crime #fraud

environment2 years ago•3 min saved

"California and Chinese Billionaires Acquire Vast Oregon Timberland Holdings"

A Chinese billionaire and a California timber family have become among the largest private landowners in the U.S. following major purchases of Oregon forests, with Sierra Pacific Industries’ acquisition making the Redding, California based Emmerson Family the largest private landowner in the U.S. The Land Report found that Chinese businessman Tianqiao Chen is the second largest foreign owner of U.S. land with nearly 200,000 acres in Oregon, drawing concern from U.S. Rep. Lori Chavez-DeRemer over his membership in the Chinese Communist Party. Foreigners own more than 43 million acres of agricultural land in the U.S., with Chinese owners making up less than 1% of foreign-owned acreage.

via Oregon Capital Chronicle|

#chinese-billionaire #environment #foreign-investment

crime2 years ago•3 min saved

Chinese Billionaire's Arrest and Fire in NYC Apartment Under Investigation.

New York City investigators are probing the cause of a fire that broke out in the luxury apartment of Chinese billionaire Guo Wengui, hours after he was arrested by the FBI in connection with a $1bn federal fraud case. The cause of the fire is still under investigation, but some residents believe it was rigged and set remotely. Guo paid $67.5m for the suite on the 18th floor of the 37-story residential tower at Fifth Avenue and 57th Street, with a view of Central Park.

via Fox News|

#chinese-billionaire #crime #fbi

crime2 years ago•2 min saved

Chinese Billionaire and Bannon-Linked Businessman Arrested in NYC Fraud Conspiracy

Authorities are investigating whether the fire that broke out in the Manhattan apartment of Chinese billionaire and accused fraudster Guo Wengui was started remotely. Guo's luxury apartment was wired for sound to record his visitors, and the fire destroyed his wood-paneled library. Guo was charged with running a billion-dollar fraud scheme and using the ill-gotten gains to buy a New Jersey mansion, a yacht, and other lavish items. He faces a maximum sentence of life in prison if convicted.

via New York Post |

#chinese-billionaire #crime #fire