Exiled Chinese Billionaire Guo Wengui Convicted of Fraud

Chinese businessman Guo Wengui, also known as Miles Kwok, was found guilty by a U.S. jury of a massive multiyear fraud scheme that defrauded his loyal followers of over $1 billion to fund a luxurious lifestyle while living in the U.S. Guo, a vocal critic of the Chinese Communist Party, faced charges including racketeering conspiracy and wire fraud, potentially leading to decades in prison. Prosecutors revealed he used investments and cryptocurrency ventures to funnel money into personal luxuries, despite framing himself as a dissident fighting against the CCP. Guo's close ties to former President Donald Trump and Steve Bannon, with whom he aimed to overthrow the Chinese government, were highlighted during the trial. The verdict exposed the extent of Guo's deception and exploitation of his followers, leading to concerns about his potential sentencing and implications for his future.