Chinese tycoon Guo Wengui sentenced to 30 years in US prison for fraud

A US federal court has sentenced exiled Chinese tycoon Guo Wengui to 30 years in prison, after he was convicted of defrauding thousands of people out of more than $1bn. In July 2024 , a jury unanimously found Guo, also known as Ho Wan Kwok and Miles Guo, guilty on nine of 12 charges, including securities offences, wire fraud and money laundering. The FBI arrested Guo, who is in his fifties, in March 2023 at his luxury Manhattan apartment overlooking Central Park. At his sentencing hearing in New York on Monday, judge Analisa Torres said Guo had “dedicated himself to increasing his own wealth” as he “preyed” on people hoping for a democratic China . Torres imposed a forfeiture order on Guo of $889m, as she condemned his “exploitation of a philanthropic purpose, his history of intimidation of critics and his refusal to accept responsibility”. The Chinese businessman has maintained his innocence, saying he used the funds for political purposes. Guo, who amassed a fortune as a property developer in China, sought asylum in the US in 2017 claiming political persecution by the Chinese Communist Party (CCP). He later became an outspoken critic of the CCP and portrayed himself as a staunch defender of democracy. He also maintained ties with right-wing figures like Steve Bannon, a longtime ally of US president Donald Trump. …