appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Alyssa Chen

China’s foreign ministry on Tuesday said it had “noted” the 30-year prison sentence given to self-exiled Chinese businessman Guo Wengui, who was convicted in a US court for orchestrating a fraud scheme that bilked his followers out of more than US$1 billion.
“Guo Wengui is a fugitive wanted under an Interpol red notice issued at the request of the Chinese government, and we have noted the relevant reports,” ministry spokesman Guo Jiakun said on Tuesday.
The billionaire businessman, also known as Ho Wan Kwok and Miles Guo, was sentenced on Monday by Judge Analisa Torres for leading what prosecutors described as a complex conspiracy to defraud thousands of his online followers between 2018 and 2023.
The funds were used to sustain Guo’s lavish lifestyle, which included a 50,000 sq ft (4,645-square metre) mansion, a US$3.5 million Ferrari, two US$36,000 mattresses, and a US$37 million luxury yacht, according to a 2023 statement from the US Attorney’s Office for the Southern District of New York.
“Mr Guo to this day denies responsibility and exhibits no remorse for the harm that he has caused to so many people,” Torres said before handing down the sentence. She also ordered Guo to forfeit US$889 million in restitution.
The US government seized around US$634 million in alleged fraud proceeds from 21 different bank accounts between September 2022 and March 2023, according to the federal prosecutor’s statement.
Prosecutors said Guo had promised substantial returns to his supporters if they invested in his companies or projects, including G Fashion, his personal clothing brand, and G Clubs, a luxury travel and event services company. However, these entities were not legitimate businesses but fundraising vehicles used to swindle investors.


Guo was arrested in March 2023 on fraud charges, and a jury found him guilty of racketeering conspiracy, securities fraud, wire fraud and money-laundering charges in July 2024.
Guo cultivated a massive online following by positioning himself as an outspoken critic of the Communist Party, claiming his sole mission was to destroy China’s ruling party and expose its corrupt nature.
Guo left mainland China in 2013 and has been wanted by Chinese prosecutors since 2014. In 2017, Interpol issued a red notice for Guo – a request to locate and arrest an individual pending extradition – at Beijing’s request.
After rising to prominence as a property developer in China, Guo claimed he had cultivated strong ties with senior Chinese officials. However, Chinese authorities later accused him of rape, kidnapping, bribery and other crimes – allegations Guo denied.
In 2017, a Chinese court heard that Guo had ordered his staff to commit fraud to obtain large loans and purchase foreign currencies. Three executives of Guo’s flagship company pleaded guilty to fraud charges during the hearing.
The tycoon settled in the US in 2014 and sought asylum in 2017. Three years later, Guo and Steve Bannon, former adviser to US President Donald Trump, announced a “New Federal State of China” campaign with the stated aim of overthrowing the Communist Party.


China reacts to Guo Wengui’s 30-year US prison sentence, highlighting fugitive status

Self-exiled Chinese billionaire Guo Wengui jailed for 30 years in US for fraud conviction

Can Singapore’s cyber laws keep pace with speed of borderless online threats?

Exiled Chinese businessman Guo Wengui found guilty of fraud in US trial

Guo Wengui

Billionaire businessman Guo Wengui has been sentenced for leading what US prosecutors described as a complex conspiracy to defraud thousands of his online followers. Photo: Reuters

Fugitive Chinese billionaire Guo Wengui in New York in 2018. Photo: AFP / Getty Images / TNS

A Twitter page of Guo Wengui is seen on a computer screen in Beijing in 2017. Photo: AP 

As China’s Communist Party grows more slowly, its members are getting older

The ageing of the Communist Party is unfolding alongside a broader demographic crisis across the country. Photo: AFP

Just how far are China’s local officials going in falsifying performance data?

Chinese anti-corruption authorities have highlighted typical cases of misconduct in official duties and performance evaluations. Photo: Reuters

News

China

Politics

The self-exiled businessman convicted over billion-dollar fraud scheme is the subject of an Interpol red notice issued at Beijing’s request


The self-exiled businessman convicted over billion-dollar fraud scheme is the subject of an Interpol red notice issued at Beijing’s request.


United States

Steve Bannon

Guo Jiakun

China reacts to Guo Wengui’s 30-year US prison sentence, highlighting fugitive status

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The self-exiled businessman convicted over billion-dollar fraud scheme is the subject of an Interpol red notice issued at Beijing’s request

The self-exiled businessman convicted over billion-dollar fraud scheme is the subject of an Interpol red notice issued at Beijing’s request