 Guo is detained without bail. | Guo Wengui, a self-exiled Chinese tycoon with close links to Trump Republicans and the lower mainland, has been indicted on 12 counts relating to a $1bn fraud. Known as Miles Guo and Ho Wan Kwok, Wengui faces 20 years in jail for wire fraud, securities fraud, bank fraud and money laundering. Steve Bannon was Trump’s campaign chair when he touted Guo as “the Donald Trump of Beijing”. Bannon was aboard Guo’s yacht when he was arrested on fraud charges in August 2020. Once one of China's most wealthy men, Guo fled China in 2014 during an anti-corruption crackdown led by Xi Jinping. Guo founded two purported nonprofit organizations, the Rule of Law Foundation and the Rule of Law Society. |  |
 | Guo used these shells to solicit money, purportedly to pursue political change in China. He promised huge returns to his suckers. His improper purchases included a $37m yacht, a 50,000 square-foot mansion, a $3.5m Ferrari for Guo’s son, a $62,000 TV, and two $36,000 mattresses. The DoJ seized and is seeking the forfeiture of $634m of Guo’s fraud proceeds from 21 bank accounts. The activist group New Federal State of China (NFSC) was Guo's creation. It paid actors to protest in front of a lower mainland blogger's home for 72 consecutive days. Shiliang Yin, 33, apologized to political and human rights activist Louis Huang for assaulting him on Nov. 25, 2020, outside the Surrey home of blogger Bingchen Gao. He said he was paid $50k by Guo Wengui. |
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