Once believed to be among the richest people in China, Guo was arrested in New York in March 2023 and accused of operating a racketeering enterprise that stretched from 2018 through 2023
Guo Wengui. Pic/Twitter
Guo Wengui, a self-exiled Chinese business tycoon whose criticism of the Communist Party won him legions of online followers and powerful friends in the American conservative movement, was convicted by a US jury Tuesday of engaging in a massive multiyear fraud that ripped off some of his most devoted fans.
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Once believed to be among the richest people in China, Guo was arrested in New York in March 2023 and accused of operating a racketeering enterprise that stretched from 2018 through 2023.
Over a seven-week trial, he was accused of deceiving thousands of people who put money into bogus investments, with the aim of preserving a luxurious lifestyle. He was convicted of nine of 12 criminal counts.
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