A U.S. jury convicted Guo Wengui of engaging in a massive multiyear fraud that prosecutors said ripped off some of his most devoted fans.
NEW YORK — Guo Wengui , a self-exiled Chinese business tycoon whose criticism of the Communist Party won him legions of online followers and powerful friends in the American conservative movement, was convicted by a U.S. jury Tuesday of engaging in a massive multiyear fraud that ripped off some of his most devoted fans.
In a statement after the verdict, U.S. Attorney Damian Williams said Guo’s interrelated fraud schemes were “all designed to fleece his loyal followers out of their hard-earned money so that Guo could spend his days in his 50,000 square foot mansion, driving his $1 million Lamborghini, or lounging on his $37 million yacht.”He added: “Thousands of Guo’s online followers were victimized so that Guo could live of a life of excess.
He applied for political asylum in the U.S., moved to a luxury apartment overlooking Central Park and joined former PresidentWhile living in New York, Guo developed a close relationship with Trump’s onetime political strategist, Steve Bannon. In 2020, the two announced a joint initiative to overthrow the Chinese government.
He said Guo made hundreds of broadcasts and videos in which he promised followers that they would not lose money if they invested with him.Then, he said, Guo spent millions from investors on a lavish lifestyle for himself and his family that included a $1.1 million tortoise-shell jewelry box and some candlesticks, a million dollar chandelier, $36,000 mattresses, a $40,000 coffee table and a $250,000 antique rug, items kept at a family home in Mahwah, New Jersey.
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