Chinese Businessman Guo Wengui Convicted of Fraud

Chinese businessman Guo Wengui, also known as Miles Guo, was found guilty of defrauding investors of over $1 billion in a New York federal court. Guo, a vocal critic of the Chinese Communist Party, maintained ties with figures like Steve Bannon and faced charges including racketeering conspiracy and fraud. Prosecutors accused Guo of using false statements to solicit investments for his companies, enabling a lavish lifestyle. Guo, associated with plans to overthrow the Chinese government, was convicted on multiple charges and now faces potential decades in prison, with plans to appeal the verdict.