Guo allegedly used the funds for luxury purchases including a Lamborghini and a 145-foot yacht, court records said.
Chinese businessman Guo Wengui was arrested Wednesday at his $68 million apartment on Fifth Avenue in New York City for allegedly masterminding a $1 billion fraud scheme that promised outsized financial gains to his online followers, the U.S. Department of JusticeGuo, 52, is scheduled to appear in court today, and the government will ask him to be detained as a"flight risk," citing his armed security and vast resources, according to court records.
One of the assets seized by the Department of Justice in the alleged $1 billion fraud scheme orchestrated by Chinese businessman Guo Wengui. In 2018, Guo, also known as Miles Kwok or Miles Guo, founded two nonprofit organizations, the Rule of Law Foundation and the Rule of Law Society. An outspoken critic of the Communist ruling party in China, Guo used his platforms"to amass followers who were aligned with his purported policy objectives in China," the U.S.
A mansion allegedly brought with funds orchestrated by Chinese businessman Guo Wengui in a $1 billion fraud scheme.Guo left China in 2014 after being accused of bribery and money laundering. Chinese prosecutors have been
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