Guo Wengui, a Chinese tycoon on the run and an ally of Steve Bannon, was arrested on March 15 on charges of fraud and money trafficking. According to federal officials, he is suspected of stealing money from thousands of online fans. The claims come after the businessman’s fortunes reportedly dropped dramatically. According to Opoyi, Guo Wengui was valued at $1.1 billion in 2015, but declared insolvent in February 2022. Wengui calculates that his fortune has dropped to between $50,000 and $100,000.
According to the Wall Street Journal, Guo Wengui was once the 73rd richest person in China, but his life changed in 2014 after Chinese officials accused him of accepting bribes, kidnapping, money fraud and assault. . He became friends with Donald Trump’s former colleague Steve Bannon after he left China.
Guo Wengui is the co-founder of GTV Media Company.
According to the New York Times, Guo Wengui made a fortune in China through lucrative real estate deals. After a lawmaker tried to block one of his property transactions in 2006, Wengui gave officials an illegal tape showing the politician. After facing numerous charges, in 2014 Wengui claimed that the Chinese government persecuted him for political purposes. He affiliated with Steve Bannon after fleeing to the US and began to identify himself as a China-skeptic political activist. The Wall Street Journal writes that Wengui and Bannon co-founded the GTV Media Company. According to Axios, Wengui paid Bannon $1 million for consulting services at G News.
LATEST: Guo Wengui, a good friend and associate of former Trump adviser Steve Bannon, has just been arrested in New York for allegedly orchestrating a plot that federal prosecutors say defrauded more than 1 billion dollars. Wengui was previously associated with Chinese… https://t.co/GjxrhLNiIX
– Ed Krassenstein (@EdKrassen) March 15, 2023
Guo Wengui and Steve Bannon allegedly used an elaborate online misinformation website to advertise dubious treatments for Covid-19 to clients in 2020, according to CNBC. After being suspected of illegal funding, he was forced to pay $539 million in restitution in 2021.
Authorities are looking into Wengui’s allegations.
US Attorney Damian Williams detailed the allegations against Wengui in an official statement.
According to Williams:
“[Guo] allegedly stacked his coffers with the money he obtained, including the purchase of a 50,000 square foot home for himself and his loved ones, a $3.5 million Ferrari dollars and even a $36,000 double bed, as well as financing a $37 million luxury yacht.
Wengui was convicted by Michael J Driscoll, Deputy Director of the FBI. According to Driscoll:
“The FBI continues to prioritize investigating complex financial crimes, and anyone attempting to commit these crimes will face consequences in the criminal justice system.”
According to the Guardian, when Wengui was arrested, a fire broke out in his apartment. FBI officials are said to have been at the apartment at the time of the incident and now believe Wengui planned to eliminate possible evidence.
Categories: Entertaintment
Source: HIS Education