Exiled Chinese Billionaire Guo Wengui Convicted of Multibillion-Dollar Fraud

Guo, known for his anti-Communist Party stance and ties to American conservatives, deceived followers to fund a lavish lifestyle.

Guo Wengui was convicted on nine out of twelve criminal counts, including racketeering conspiracy and wire fraud.
The fraud scheme, running from 2018 to 2023, involved over $1 billion taken from thousands of followers.
Prosecutors highlighted Guo's extravagant expenditures, including luxury homes, cars, and a yacht.
Guo's defense argued that the case lacked specific evidence and was politically motivated by his anti-Communist stance.
Guo's sentencing is set for November, with potential decades-long imprisonment.