Chinese business tycoon convicted of defrauding followers in $1bn scheme
Chinese business tycoon convicted of defrauding followers in $1bn scheme
Guo Wengui, who gained fans for criticizing Communist party in China, found guilty in US of nine criminal counts
cross-posted from: https://lemmy.ml/post/18073470
I wish I had a $1 billion scheme. sighs forlornly
He fucked over thousands of people, mainly chinese migrants, while paying off a who's who of the worst people in the Trump admin. He lived pretty large for a couple of decades, but will likely spend the rest of his life in prison in the US or be executed in China.
Not the best scheme, billion or not.
This is the best summary I could come up with:
Guo Wengui, a self-exiled Chinese business tycoon whose criticism of the Communist party won him legions of online followers and powerful friends in the American conservative movement, was convicted by a US jury on Tuesday of engaging in an enormous multi-year fraud that ripped off some of his most devoted fans.
Once believed to be among the richest people in China, Guo was arrested in New York in March 2023 and accused of operating a racketeering enterprise that stretched from 2018 through 2023.
Over a seven-week trial, he was accused of deceiving thousands of people who put money into bogus investments, with the aim of preserving a luxurious lifestyle.
Guo, who is also known by the name Miles Kwok, left China in 2014 during an anti-corruption crackdown that ensnared people close to him, including a top intelligence official.
He applied for political asylum in the US, moved to a luxury apartment overlooking Central Park and joined Donald Trump’s Mar-a-Lago club in Florida.
In a closing argument, assistant US attorney Ryan Finkel said Guo “spouted devious lies to trick his followers into giving him money”.
The original article contains 354 words, the summary contains 184 words. Saved 48%. I'm a bot and I'm open source!
The other day that Tankie that told me that earning capital was a feature of communism and if I just read Marx, I'd know he was in favor of private property, as they were defending China as a "communist" country. My god that was funny.