Guo Wengui, once among China’s wealthiest businessmen, has been sentenced to 30 years in prison in the United States for orchestrating a billion‑dollar fraud scheme, BBC reports.
The former property magnate fled China in 2017 and sought asylum in the US, reinventing himself as a critic of the Communist Party while cultivating a large online following.
Prosecutors said Guo, also known as Miles Guo and Ho Wan Kwok, raised more than $1bn from supporters through investment and cryptocurrency ventures between 2018 and 2023.
A New York jury convicted him of racketeering, fraud and money laundering. Judge Analisa Torres, delivering sentence in a courtroom filled with Guo’s supporters, said he had “preyed on those seeking to bring democracy to China,” diverting their money to finance a lavish lifestyle.
US attorney Sean S Buckley told the BBC that Guo “exploited the trust that thousands had placed in him for his own greed,” adding: “Today’s sentence shows that fame and wealth do not place you above the law.”
Prosecutors detailed Guo’s spending, including a 50,000‑square‑foot mansion, a $1m Lamborghini and a $37m yacht. Guo denied wrongdoing, insisting the funds supported his political activism.
Before his flight to the US, Guo had built a fortune as a property developer with close ties to Chinese officials. He later became a vocal opponent of Beijing’s leadership and forged alliances with other critics, including Steve Bannon, a former adviser to US President Donald Trump.
Chinese authorities had accused Guo of corruption prior to his departure, allegations he rejected. His sentencing marks one of the harshest penalties handed down in recent years against a high‑profile exile who sought to position himself as a dissident voice abroad.
