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Tribune News Service
Tribune News Service
National
Ellen Moynihan and Molly Crane-Newman

Exiled Chinese business tycoon Guo Wengui arrested in Manhattan by feds for $1B fraud scheme

Guo Wengui Miles Guo United States Manhattan Steve Bannon Kin Ming Je

Manhattan federal prosecutors on Wednesday busted exiled Chinese tycoon Guo Wengui — whose yacht ex-White House adviser Steve Bannon was arrested aboard in 2020 — for a staggering billion-dollar fraud scheme.

In a curious plot twist, a fire broke in Guo’s $32.5 million apartment in the Sherry-Netherland hotel in Midtown around noon, fire officials said, hours after FBI agents arrested the businessman.

Sources at the scene told the Daily News that agents were in the apartment when the two-alarm electric fire broke out.

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