Chinese billionaire sentenced to 30 years in U.S. jail for fraud

Guo Wengui, a self-exiled Chinese tycoon, who has been living in the United States for over a decade, was sentenced to 30 years in jail for financial fraud

A New York judge on Monday sentenced Chinese billionaire and prominent critic of the country’s Communist Party Guo Wengui to 30 years in jail for financial fraud.

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Guo — who was named in court papers as Ho Wan Kwok and also goes by Miles Guo and Miles Kwok — was convicted of nine out of 12 criminal charges that he pleaded not guilty to, including wire fraud, securities fraud, bank fraud and money laundering.

U.S. District Judge Analisa Torres ordered Guo to forfeit $889 million in restitution.