Breitbart By JOHN HAYWARD
Chinese businessman Guo Wengui – also known as Miles Guo and several other names – was convicted on nine out of 12 counts for a billion-dollar fraud scheme by a New York jury on Wednesday.
Guo was found guilty of racketeering, money laundering, wire fraud, and securities fraud for allegedly conning thousands of online followers out of more than $1 billion with various investment and cryptocurrency schemes between 2018 and 2023.
Guo allegedly spent the money on what prosecutors called an “extravagant lifestyle,” which included a gigantic mansion, a yacht, expensive sports cars, a portfolio of high-priced real estate, and a vast collection of other luxuries.
U.S. Attorney Damian Williams said on Wednesday that Guo’s “schemes” to lead a “life of excess” by cheating his followers have been “put to an end.”
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