Guo Wengui Was Arrested For Fraud And Money Laundering 2023

Guo Wengui, a fugitive Chinese tycoon and ally of Steve Bannon, was arrested on allegations of fraud and money trafficking on March 15. According to federal officials, he is suspected of stealing financial funds from thousands of Internet fans. The claims arose after the businessman’s wealth allegedly decreased significantly. According to Opoyi, Guo Wengui was valued at $1.1 billion in 2015, but became insolvent in February 2022. Wengui estimated that his funds had dwindled to between $50,000 and $100,000.

According to the Wall Street Journal, Guo Wengui was once the 73rd richest person in China, but his life changed in 2014 after Chinese officials accused him of bribery, kidnapping, currency fraud and assault. He became friends with former Donald Trump colleague Steve Bannon after leaving China.

Guo Wengui is a co-founder of GTV Media Company.

According to the New York Times, Guo Wengui made his wealth in China through profitable real estate transactions. After a lawmaker tried to hinder one of his real estate transactions in 2006, Wengui handed officials an illegal recording showing the politician. After facing several accusations, Wengui alleged in 2014 that the Chinese government was persecuting him for political purposes. He became affiliated with Steve Bannon after escaping to the United States and began to identify as a China-skeptic political activist. Wengui and Bannon co-founded GTV Media Company, according to the Wall Street Journal. According to Axios, Wengui paid Bannon $1 million for advisory services at G News.

BREAKING: Guo Wengui, good friend and associate of former Trump adviser Steve Bannon, was just arrested in New York for allegedly orchestrating a conspiracy that federal prosecutors say amounted to more than a billion dollars in fraud. Wengui has previously been linked to Chinese… https://t.co/GjxrhLNiIX

—Ed Krassenstein (@EdKrassen) March 15, 2023

Guo Wengui and Steve Bannon reportedly used a complex online disinformation network to market dubious Covid-19 therapies to customers in 2020, according to CNBC. After being suspected of illegal financing, he was forced to pay $539 million in repayments in 2021.

The authorities weigh in on Wengui’s accusations.

U.S. Attorney Damian Williams detailed the allegations against Wengui in a formal statement.

According to Williams:

“[Guo] He is accused of filling his coffers with the money he took, including purchasing a 50,000-square-foot home for himself and his close relatives, a $3.5 million Ferrari and even two $36,000 beds, as well as financing a opulent $37 million ship.”

Wengui was denounced by Michael J. Driscoll, deputy director of the FBI. According to Driscoll:

“The FBI continues to prioritize the investigation of complicated financial crimes, and anyone who attempts these crimes will face repercussions in the criminal justice system.”

According to The Guardian, when Wengui was arrested, a fire broke out in his apartment. FBI agents were allegedly present at the apartment during the incident and now believe Wengui planned it to eliminate possible evidence.

Categories: Biography
Source: Tekmonk Famous Biography