A jury has convicted Guo Wengui—an exiled Chinese billionaire with a devoted following of thousands of Chinese emigres—of multiple felonies in his sprawling fraud trial. Guo, who has deep ties to the MAGA movement, was convicted on nine of 12 counts presented by federal prosecutors, including racketeering conspiracy and securities fraud, after a seven week trial. The jurors agreed with prosecutors that Guo had used a series of supposed investment opportunities he launched starting in 2020—a media company, a loan program, a supposed membership club, and a crypto currency exchange—to steal hundreds of millions of dollars from investors. The verdict also affirmed prosecutors’ contention that a political movement that Guo built alongside former Trump campaign chief Steve Bannon starting in 2018—which the men claim aims to “take down the CCP”—was largely a con, a pretense that Guo used win the support and trust of people in the Chinese diaspora, and then fleece them. Guo, who has been jailed since his March 2023 arrest, could face decades in prison, and at least potentially, deportation to China, where he also faces criminal charges.

 

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