Exiled Chinese entrepreneur Guo Wengui, convicted of defrauding thousands of people of more than $1 billion, was sentenced Monday to 30 years in prison by a federal court in New York, US media reported.

Guo said he came to the U.S. to destroy the Chinese Communist Party. But the judge said he instead diverted investor money to live lavishly.

Self-exiled Chinese billionaire Guo Wengui, who fostered ties to American right, gets 30 years in U.S. prison for fraud