Chinese tycoon Guo Wengui sentenced to 30 years for fraud

A US federal court has sentenced exiled Chinese tycoon Guo Wengui to 30 years in prison after he was convicted of defrauding thousands of people of more than $1bn. In July 2024, a jury found Guo, also known as Ho Wan Kwok and Miles Guo, guilty on nine of 12 charges, including securities offences, wire fraud and money laundering.

The FBI arrested Guo in March 2023 at his luxury Manhattan apartment overlooking Central Park. At his sentencing hearing in New York, Judge Analisa Torres said Guo had "dedicated himself to increasing his own wealth" as he "preyed" on people hoping for a democratic China.

Torres imposed a forfeiture order of $889m and condemned his "exploitation of a philanthropic purpose, his history of intimidation of critics and his refusal to accept responsibility". Guo has maintained his innocence, saying he used the funds for political purposes.

United States, New York

guo wengui, miles guo, fraud, securities offences, wire fraud, money laundering, forfeiture order, 1 billion, manhattan, central park