Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Independent UK
The Independent UK
National
Michael R. Sisak,Jennifer Peltz and Larry Neumeister

Chinese tycoon Guo Wengui handed 30-year prison sentence for huge fraud scheme

Guo Wengui Prison
  • Self-exiled Chinese billionaire Guo Wengui was sentenced to 30 years in a US prison for a massive financial fraud scheme.
  • Federal Judge Analisa Torres stated that Guo "preyed on those seeking to bring Democracy to China," exploiting their aspirations to fund his opulent lifestyle.
  • The fraud cost over 1,000 people worldwide hundreds of millions of dollars, with victims describing losing their life savings and experiencing severe emotional distress.
  • Guo, who denied responsibility and claimed his intent was to "destroy the CCP," was ordered to forfeit $889 million in restitution.
  • Before his arrest, Guo had connections with conservative political strategist Steve Bannon and was a member of a Florida golf club.

IN FULL

Chinese billionaire Guo Wengui sentenced to 30 years for fraud

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Keith Richards on Amy Winehouse: 'A sad story with so much more potential'
Keith Richards says Amy Winehouse was a “sad story” who “had so much more potential” and added that she was "one of the best to come out of England".
BANG Premier
BANG Premier
Cut the number of choices you make each day. Your brain will thank you
The more choices you have, the better, right
The Independent UK
The Independent UK
An NYPD Cop Has Been At It For 35 Years. He's Never Seen Anything Like Taylor Swift's Wedding
Were they ...Ready for It?
Cinemablend
Cinemablend
“Ozzy was used to Les Pauls from Zakk Wylde and Randy Rhoads. He kept asking me if I could play one”: Gus G on whirlwind days with Ozzy Osbourne, his rock-star Guitar World cover shoot, and his difficult choice of guitars
With new solo album Steel Burner out now, Gus G checks in to talk about his August 2010 GW cover shoot and all the madness surrounding it
Guitar World
Guitar World
52 Pieces Of Furniture So Bad They’re Somehow Brilliant
Not every beautifully crafted piece of furniture is beautiful to look at. Sometimes, incredible skill, time, and attention to detail go into creating designs that leave people wondering, "But... why?" This collection showcases some of the tackiest tables and wonderfully awful furniture pieces that somehow manage to be both design…
Bored Panda
Bored Panda
Hit 2000s Show Sparks Fresh Body Standards Debate After Surprising Image Goes Viral Two Decades Later
Many viewers argued that while trends have changed, the pressure on actresses never really disappeared.
Bored Panda
Bored Panda
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play