Exiled Chinese billionaire Guo Wengui hit with new RICO conspiracy charge
Exiled Chinese billionaire Guo Wengui hit with new RICO conspiracy charge Guo Wengui, the self-exiled Chinese billionaire and associate of Steve Bannon, is set to go to trial in April on charges of defrauding investors of $1 billion. MANHATTAN (CN) — Federal prosecutors in New York on Thursday added an expansive racketeering count against Chinese financier Guo Wengui, who is accused of orchestrating a $1 billion fraud conspiracy. Wengui, an associate of American conservative media strategist Steve Bannon, was arrested in March 2023 at his apartment in the Sherry-Netherland Hotel in Manhattan, where a fire subsequently broke out later that day as FBI agents were still searching it. Prosecutors in the Southern District of New York have accused Wengui — also known as Miles Guo and Ho Wan Kwok — of carrying out a complex conspiracy to defraud thousands of his online followers out of over $1 billion dollars by lying to prospective investors and promising them outsized returns if they inves