Guo Wengui: Chinese businessman found guilty in US over $1bn scam

Prosecutors said cash raised from businessman's online followers was used to fund his lavish lifestyle.

British Broadcasting CorporationWatchHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC VerifySportBusinessExecutive LoungeTechnology of BusinessWomen at the HelmFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveAudioWeatherNewslettersChina tycoon Guo convicted in US over $1bn scam13 hours agoBy João da Silva, Business reporterShareGetty ImagesGuo was found guilty of racketeering, fraud and money launderingSelf-exiled Chinese businessman Guo Wengui has been convicted by a US court of defrauding his online followers in a billion-dollar scam.

He was found guilty on nine of the 12 criminal counts he faced, including racketeering, fraud and money laundering.

Guo's sentencing has been scheduled for 19 November, when he could face decades behind bars. He has been in prison since his arrest in March 2023.

He is a critic of the Chinese Communist party and was an associate of Stephen Bannon, an ex-White House chief strategist under former president Donald Trump.

Guo goes by several aliases, including Miles Guo, Miles Kwok and "Brother Seven". He was named as Ho Wan Kwok when he was indicted in 2023.

https://www.bbc.com/news/articles/ce78gkd7pgjo

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