Chinese Billionaire Guo Wengui Charged in $1 Billion Fraud Conspiracy by DOJ and FBI.
Exiled Chinese billionaire Guo Wengui, a business associate of Steve Bannon, has been charged with orchestrating a complex conspiracy to defraud thousands of his online followers out of at least $1 billion. Guo and a co-defendant are accused of using fraudulent and fictitious business and investment opportunities to solicit, launder and misappropriate money from their victims. The money was used to purchase luxury items, including a car, a yacht, and two $36,000 mattresses. Guo was arrested in New York and is facing charges of fraud and financial conspiracy.