The tycoon, long wanted by the Chinese government and known for his ties to figures in the administration of former US President Donald Trump, was arrested this Wednesday on charges of masterminding a $1 billion fraudulent conspiracy.
Guo Wengui, 54, and his financier Qin Ming Jae were charged in federal court in Manhattan on multiple counts, including bank fraud, wire fraud and securities fraud.
U.S. prosecutors said the charge stemmed from a complex scheme in which Guo lied to hundreds of thousands of online subscribers in the United States and around the world before embezzling hundreds of millions of dollars.
Kin Min Jae, 55, was not detained, while Guo was due to appear in court on Wednesday.
Manhattan’s chief federal attorney, U.S. Attorney Damian Williams, said in a statement that Guo is accused of “stuffing his pockets with the money he stole, which included buying himself and his family a mansion, a 3-year-old Ferrari, $5 million and up to two mattresses for $36,000, as well as $37 million luxury yacht financing.
Guo was once considered one of the richest men in China, which he left in 2014 during President Xi Jinping’s crackdown on corruption that involved people close to Guo, including a senior intelligence official.
Chinese authorities accused Guo of rape, kidnapping and bribery, among other crimes.
Since then, it has been in high demand by the government of that country under the protection of the United States.
While living in New York as a fugitive, Guo became a harsh critic of the Chinese Communist Party and developed a close relationship with Steve Bannon, a former political strategist for former President Donald Trump (2017–2021).
Guo and Bannon announced in 2020 a joint initiative that they said was aimed at overthrowing the Chinese government.
The Chinese businessman was arrested in his spacious luxury apartment in Sherry Netherlands, one of Manhattan’s famous apartment hotels overlooking Central Park.
A few hours later, firefighters extinguished a rooftop fire on the same floor as Guo, but it was not immediately clear whether the fire was related to the arrest.
According to court documents, prosecutors asked for Guo to be released without bail because of the risk of his absconding and “the danger he poses to society.”
Author: Portuguese
Source: CM Jornal
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