Judge Denies $25M Bail for Exiled Chinese Bizman, Citing Flight Risk

Chinese businessman Guo Wengui charged in $1 billion fraud case will remain in jail
Judge rejected a proposed $25 million bail package due to clear and convincing evidence that he would remain an economic threat and a flight risk if released
Guo has continued to promote fraudulent investment opportunities even after funds were seized from his businesses last year
U.S. government has seized approximately $634 million from 21 bank accounts associated with Guo
Guo was accused of using proceeds from a five-year fraud scheme from 2018 through this March to buy extravagant goods and assets for himself and his family