Former Chinese Billionaire and Bannon Associate Is Sentenced for Fraud
Source: New York Times
Guo Wengui, a Chinese businessman who transformed himself from a Beijing insider into an anti-Communist crusader and ally of the American far right, was sentenced to 30 years in prison on Monday for defrauding investors, including many of his own fervent supporters, of hundreds of millions of dollars.
Mr. Guo, who had made a fortune in Beijing as a real estate developer and had forged an alliance with a corrupt intelligence official there, fled China in 2015, settling in a $68 million Manhattan penthouse overlooking Central Park. There, he took to social media and YouTube, denouncing the Chinese Communist Party and luring thousands of followers convinced that Mr. Guo would harness his wealth and inside knowledge to bring democracy to China.
He took them into his confidence and they showered him with money, buying shares in his media company, dubious club memberships and a fake cryptocurrency that he promised would make them all rich beyond belief.
Mr. Guo, also known as Miles Kwok, used that money to fund a lavish lifestyle, buying an estate in rural New Jersey, a mansion in Greenwich, Conn., and a $4.4 million Bugatti supercar. He was arrested at his Manhattan apartment in 2023 and convicted in federal court the following year of racketeering conspiracy, securities fraud and money-laundering conspiracy.
Read more: https://www.nytimes.com/2026/06/29/us/guo-wengui-sentencing.html
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Guo, who amassed a fortune as a property developer in China, sought asylum in the US in 2017 claiming political persecution by the Chinese Communist Party (CCP). He later became an outspoken critic of the CCP and portrayed himself as a staunch defender of democracy.
He also maintained ties with right-wing figures like Steve Bannon, a longtime ally of US president Donald Trump. Bannon was himself arrested in August 2020 aboard Guo’s yacht for his role in embezzling funds from a scheme which promised to privately construct barriers along the US-Mexican border. He pleaded guilty to defrauding donors in February 2025, but avoided jail.
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A former associate of Guo’s, Yvette Wang, with whom he formed a lobbying group opposing the CCP, was also sentenced to 10 years in prison last year for her role in the scheme.
https://www.theguardian.com/world/2026/jun/30/guo-wengui-chinese-tycoon-sentenced-us-prison-fraud
It's fraudsters as far as the eye can see in Trumpworld. Federal court, so it's possible the Con Artist-in-Chief will pardon him. Someone who had a fake cryptocurrency no doubt has many millions stashed somewhere to pay The Rapist back.
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