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Guo Wengui

The latest news on Guo Wengui, exiled Chinese billionaire businessman and later political activist, including news on fraud and money laundering allegations.

Born

5 Oct 1968

Industry

Business

Job Title

Fugitive businessman

last updated:

4 December, 2024

Fugitive Chinese tycoon Guo Wengui holds a news conference in New York in November 2018. Photo: AFP

US-China relations

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

The fugitive tycoon was convicted after raising over US$1 billion from online followers, then spending the money on luxury goods like a red Lamborghini.

17 Jul 2024 - 11:08AMvideocam

United States

Chinese tycoon Guo Wengui stole US$1 billion for luxury lifestyle, court told

25 May 2024 - 1:47AM

United States

Chinese businessman Guo Wengui on trial in US over US$1 billion fraud scheme

23 May 2024 - 3:14AM

US-China relations

Guo Wengui’s chief of staff pleads guilty weeks before US fraud trial

Yvette Wang admitted to conspiring with the self-exiled Chinese businessman and others to commit wire fraud and money laundering.

4 May 2024 - 2:23AM

Businessman Guo Wengui speaks during an interview in New York in April 2017. Photo: Reuters

United States

US court orders Chinese billionaire Guo Wengui to face fraud indictment

A judge said prosecutors sufficiently alleged that Guo engaged in a pattern of racketeering through four fraud schemes.

3 Apr 2024 - 11:20AM

Crime

No bail for exiled Chinese businessman Guo Wengui

A US appeal court said he should remain in jail while awaiting trial for allegedly defrauding investors of a total of over US$1 billion.

15 Jun 2023 - 5:36AM

Malaysia 1MDB scandal

Fugees rapper convicted in US over lobbying campaigns with Malaysia’s Jho Low

Prosecutors accused Pras Michel of plotting with Low to attempt to influence the administrations of US presidents Barack Obama and Donald Trump.

27 Apr 2023 - 5:41AM

Rapper Pras Michel exits federal court in Washington on April 3. Photo: Bloomberg

United States

Chinese billionaire Guo Wengui denied bail in US fraud case

The judge called his proposed bail package insufficient, noting the exiled businessman with ties to Trump and Bannon has filed for bankruptcy and saying he has ‘the means and know-how to flee’.

21 Apr 2023 - 5:47AM

Malaysia 1MDB scandal

Jho Low paid US$20 million for Obama photo op, US rapper Pras Michel says

The ex-Fugees member says the Malaysian tycoon was willing to ‘spend any type of money’, but his ‘party guy’ reputation made it hard to get fundraiser invites.

19 Apr 2023 - 6:00AMvideocam

Malaysia

Malaysia’s Jho Low paid a rapper to lobby Trump to drop 1MDB probe, court hears

Grammy-winning US rapper Pras Michel of hip-hop group the Fugees is accused of illegally lobbying on the fugitive Malaysian financier’s behalf as well as acting as an unregistered agent of China.

5 Apr 2023 - 9:19AM

Jho Low paid US$8 million and promised as much as US$75 million more if the US Justice Department was successfully persuaded to walk away from its civil forfeiture case against 1MDB, the court heard. Photo: Sam Tsang

Malaysia 1MDB scandal

Leonardo DiCaprio says Malaysia’s Jho Low planned to donate to Obama campaign

The subject of a possible contribution of up to US$30 million came up during ‘casual conversation’, the US star said during Fugees rapper Pras Michel’s foreign influence trial.

4 Apr 2023 - 5:04AM

Actor Leonardo DiCaprio attends the Governors Ball following the 92nd Academy Awards in Los Angeles in February 2020. Photo: Reuters

United States

Chinese tycoon Guo Wengui seeks bail, says he’d be worse off if he fled US

The billionaire argued that absconding would endanger him more as it would expose him to Beijing that has long targeted him and his family.

1 Apr 2023 - 9:50AMvideocam

Malaysia

US accuses rapper Pras Michel of illegal lobbying with 1MDB’s Jho Low, China

Prosecutors said Michel was paid US$70 million to funnel money from Low through straw donors to Obama’s 2012 re-election campaign and influence Trump to return dissident Guo Wengui to China.

31 Mar 2023 - 9:21AM

US-China relations

Inside the ‘mysterious’ life of exiled Chinese billionaire tycoon Guo Wengui

Exiled Chinese billionaire Guo Wengui goes by multiple names and the true story of who he is remains a mystery even after his recent arrest – here’s what we know so far about his outlandish life

24 Mar 2023 - 11:52AM

Guo Wengui was a billionaire in China before he fled the country and moved to the US. Photos: Handout; Reuters

Exiled Chinese businessman Guo Wengui arrested for fraud in the US

16 Mar 2023 - 12:00PM

02:17

United States

Chinese exile Guo charged with defrauding investors out of over US$1 billion

Guo Wengui, arrested on Wednesday, faces 11 criminal counts, including securities fraud and money laundering charges; he pleaded not guilty but was denied bail.

16 Mar 2023 - 8:52AMvideocam

Chinese overseas

Chinese exile Guo Wengui files for bankruptcy after yacht dispute

Businessman was last week told to pay US$135 million fine or face arrest for violating court order to keep his vessel in American waters.

17 Feb 2022 - 10:25PM

Chinese overseas

Chinese exile Guo Wengui ordered to pay US$134 million in US yacht case

The Lady May made the news in 2020 when Trump ally Steve Bannon was arrested on unrelated federal charges while on board the vessel.

11 Feb 2022 - 7:45AM

Former White House chief strategist Steve Bannon greets fugitive Chinese billionaire Guo Wengui before introducing him at a news conference in New York in November 2018. Photo: AFP

Banking & finance

Chinese billionaire Guo Wengui’s US$500 million lawsuit against UBS can proceed

Exiled Chinese billionaire Guo Wengui sued Swiss investment bank UBS last year over a 2015 margin call following a decline in Haitong Securities shares

9 Feb 2022 - 11:03PMvideocam

United States

Firms tied to fugitive Chinese tycoon Guo Wengui settle US$539 million fines

The companies agreed to pay the penalties to settle charges over illegal cryptocurrency sales.

14 Sep 2021 - 8:50AM

Social media

Politico | Newest MAGA app tied to Bannon-allied Chinese billionaire

GETTR has existed as a Chinese language social media network linked to Guo Wengui. It was unveiled as a new platform by Jason Miller on Thursday.

2 Jul 2021 - 9:11PM

Steve Bannon and fugitive Chinese billionaire Guo Wengui in 2018. File photo: AFP

Chinese tycoon Guo Wengui sues UBS for US$500 million over deal gone awry

Fugitive claims the bank pressured him into borrowing money tied to the purchase of shares in Haitong Securities, and that his investment was wiped out when UBS forced the sale of the stock during a market rout.

6 Nov 2020 - 11:19PM

Wealthy businessman Guo Wengui has lived in exile in New York for more than five years. Photo: Reuters

US presidential election 2020

Chinese fugitive Guo Wengui ‘spread Biden-China claim to impact US election’

Unverified stories linking Democrat Joe Biden’s son Hunter to China was part of an interference campaign, former Guo collaborator John Pan says.

3 Nov 2020 - 5:24AMvideocam

Donald Trump

Ex-Trump fundraiser ‘illicitly lobbied on China and 1MDB scandal’

Elliott Broidy is accused of asking US president to invite Malaysia’s Najib Razak to golf game in bid to end corruption investigation.

12 Oct 2020 - 7:49PM

Malaysia 1MDB scandal

US consultant charged with illicit lobbying for Jho Low over 1MDB probe

Prosecutors say Nickie Lum Davis was also involved in bid to arrange return of Chinese dissident living in US.

25 Aug 2020 - 9:53PM

US prosecutors say Low offered an US$8 million retainer fee for the illicit lobbying, and an additional US$75 million if the matter was resolved within 180 days. Photo: SCMP

China’s Communist Party

Questions go unanswered over Chinese footballer leaving Serbia

Son of now-ostracised Hao Haidong played for Super Liga side in Serbian Cup on June 3, despite ‘leaving club amicably on May 30’, while allegations of ‘pressure from Beijing’ were denied by Radnicki Nis.

15 Jun 2020 - 8:38PM

Hao Runze of Radnicki Nis warming up before the Serbian Cup quarter-final against Cukaricki in Belgrade on June 3. Photo: Xinhua

Chinese Football Association (CFA)

Hao Haidong’s son sacked by Serbian club after ‘Beijing pressure’

China’s record goalscorer criticised the Communist Party on anniversary of Tiananmen Square crackdown; now Hao Runze has been let go just a week after Chinese media tipped him to follow in father’s footsteps.

11 Jun 2020 - 3:57PM

Chinese Football Association (CFA)

Opinion | Airbrushing Hao from history is an own goal for China

China’s record scorer has disappeared from the Chinese internet after controversial comments on June 4 but someone claiming to be ‘China’s Michael Jordan’ has amassed more than 40,000 Twitter followers.

7 Jun 2020 - 2:20PM

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