Guo Wengui, previously thought to be one of China’s richest businessmen, has been sentenced to 30 years in prison in the United States for orchestrating a billion-dollar swindle. In 2017, the former property tycoon fled China for the United States, where he rebuilt himself as a Communist Party critic and amassed a passionate online following.
Guo was later convicted of racketeering, fraud, and money laundering. Analisa Torres, a New York court judge, stated that Guo “preyed on those seeking to bring democracy to China,” using their money to fuel his opulent lifestyle.
The BBC contacted Guo’s agents for comment. Guo, also known as Miles Guo and Ho Wan Kwok, was punished in a courtroom crowded with his supporters. According to US attorney Sean S Buckley, Guo took advantage of the faith that many had placed in him for personal gain, rather than accepting legitimate chances.
Today’s punishment demonstrates that fame and wealth do not exclude you from the law, and that fraudsters who target families to benefit themselves will face serious consequences,” Buckley added. Guo Wengui, formerly considered among China’s wealthiest entrepreneurs, has received a 30-year prison sentence in the United States for masterminding a billion-dollar scam.
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