Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleSelf-exiled Chinese billionaire Guo Wengui was sentenced to 30 years in a US prison for a massive financial fraud scheme. Federal Judge Analisa Torres stated that Guo "preyed on those seeking to bring Democracy to China," exploiting their aspirations to fund his opulent lifestyle. The fraud cost over 1,000 people worldwide hundreds of millions of dollars, with victims describing losing their life savings and experiencing severe emotional distress. Guo, who denied responsibility and claimed his intent was to "destroy the CCP," was ordered to forfeit $889 million in restitution. Before his arrest, Guo had connections with conservative political strategist Steve Bannon and was a member of a Florida golf club. In fullChinese billionaire Guo Wengui sentenced to 30 years for fraudThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Chinese tycoon Guo Wengui handed 30-year prison sentence for huge fraud scheme
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleSelf-exiled Chinese billionaire Guo Wengui was sentenced to 30 years in a US prison for a massive financial fraud scheme. Federal Judge Analisa Torres stated that Guo "preyed on those seeking to bring Democracy to China," exploiting their aspirations to fund his opulent lifestyle. The fraud cost over 1,000 people worldwide hundreds of millions of dollars, with victims describing losing their life savings and experiencing severe emotional distress. Guo, who denied responsibility and claimed his intent was to "destroy the CCP," was ordered to forfeit $889 million in restitution. Before his arrest, Guo had connections with conservative political strategist Steve Bannon and was a member of a Florida golf club. In fullChinese billionaire Guo Wengui sentenced to 30 years for fraudThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
