Chinese tycoon Guo Wengui convicted of fraud in the US

Guo Wengui, a wealthy Chinese businessman known for his vocal opposition to the Chinese government, has been convicted of fraud in a New York federal court. Guo, who styled himself as a defender of democracy and was linked to US right-wing figure Steve Bannon, was found guilty of deceiving investors out of over $1 billion. He used his fame to attract funds for his companies, such as GTV Media and G/Clubs, promising lucrative returns or luxury services. Instead, he used the money for a lavish lifestyle, including a massive mansion, a $1 million Lamborghini, and a $37 million yacht. Guo faces a long prison sentence for charges including racketeering, securities fraud, wire fraud, and money laundering.

  • Muthomi Ireri

    Manager, Planet GIM

    Related Posts

    Last-Minute Rush: Bookstores, Bus Terminals, and Supermarkets Overwhelmed as Schools Resume

    As schools begin the first term of 2025, parents are excited for their children to advance to the next grade. The December holiday provided a lengthy break, allowing families time…

    Gachagua Supports Calls for Investigation into Abductions.

    Former Deputy President Rigathi Gachagua has voiced support for an independent investigation into alleged abductions and extrajudicial killings, asserting that Kenya is not a “banana republic.” He commended his allies…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Last-Minute Rush: Bookstores, Bus Terminals, and Supermarkets Overwhelmed as Schools Resume

    Last-Minute Rush: Bookstores, Bus Terminals, and Supermarkets Overwhelmed as Schools Resume

    Gachagua Supports Calls for Investigation into Abductions.

    Gachagua Supports Calls for Investigation into Abductions.

    Two individuals arrested as NACADA confiscates drugs in Migori.

    Two individuals arrested as NACADA confiscates drugs in Migori.

    Governor Kihika assures residents of continued dedication to improved service.

    Governor Kihika assures residents of continued dedication to improved service.

    Mungai Eve responds to the claims surrounding her purportedly leaked video.

    Mungai Eve responds to the claims surrounding her purportedly leaked video.

    Why Landlords Risk Paying Tenants for Disconnecting Water & Power

    Why Landlords Risk Paying Tenants for Disconnecting Water & Power