Who Is Guo Wengui? Billionaire With Close Ties To Trump's Ally Jailed For 30 Years In US For Fraud
Who Is Guo Wengui? Billionaire With Close Ties To Trump's Ally Jailed For 30 Years In US For Fraud Published By, Last Updated: June 30
Who Is Guo Wengui? Billionaire With Close Ties To Trump's Ally Jailed For 30 Years In US For Fraud Published By, Last Updated: June 30, 2026, 16:33 IST In July 2024, a federal jury found Guo guilty on nine of 12 charges, including securities offences, wire fraud and money laundering. Rapid Read Guo Wengui has links with prominent right-wing figures, including Steve Bannon, a longtime ally of US President Donald Trump. (Reuters photo) Exiled Chinese businessman Guo Wengui has been sentenced by a US federal court to 30 years in prison after being convicted of orchestrating a fraud that swindled thousands of investors out of more than $1 billion. Guo, also known as Ho Wan Kwok and Miles Guo, built his fortune in China’s real estate sector before leaving the country in 2017.
After seeking asylum in the United States, he claimed he was being persecuted by the Chinese Communist Party (CCP) and emerged as one of its most vocal overseas critics, presenting himself as a champion of democracy, The Guardian reported. All About Guo Wengui His public profile grew further through his association with prominent right-wing figures, including Steve Bannon, a longtime ally of US President Donald Trump. Guo was arrested by the FBI in March 2023 at his luxury apartment overlooking Central Park in Manhattan. In July 2024, a federal jury found him guilty on nine of 12 charges, including securities offences, wire fraud and money laundering. Prosecutors said he exploited his reputation as an anti-CCP activist to persuade followers to invest in various ventures by promising high returns and exclusive benefits, while diverting the money to finance an extravagant lifestyle.
At his sentencing in New York on Monday, Judge Analisa Torres said Guo had “dedicated himself to increasing his own wealth" as he “preyed" on people hoping for a democratic China. She also ordered him to forfeit $889 million, condemning his “exploitation of a philanthropic purpose, his history of intimidation of critics and his refusal to accept responsibility". During the hearing, prosecutor Ryan Finkel told the court, “not a democratic activist, he is a con artist, a scammer and a thief". More than 100 of Guo’s supporters attended the sentencing. News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author Manisha Roy Manisha Roy is a Senior Sub-Editor at News18.com's general desk. She comes with an experience of over 5 years in media industry.
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