Chinese billionaire Guo Wengui sentenced to 30 years in US prison for $889 million fraud scheme
By
Al Jazeera
Summary
Self-exiled Chinese billionaire Guo Wengui was sentenced to 30 years in a US prison for financial fraud that cost over 1,000 victims hundreds of millions of dollars. Guo, who fled China a decade ago and became a vocal critic of the Chinese Communist Party, was also ordered to forfeit $889 million in restitution after a jury unanimously found him guilty.
Source
bskyChinese billionaire Guo Wengui sentenced to 30 years in US prison for $889 million fraud schemealjazeera.comKey quotes
· 3 pulledA federal judge said Guo's fraud cost more than 1,000 people worldwide hundreds of millions of dollars.
Guo Wengui, who fled China a decade ago and reinvented himself in the US as a critic of the Chinese Communist Party (CCP), was sentenced on Monday in a Manhattan court by Judge Analisa Torres.
Guo, once believed to be among China's wealthiest men, was also ordered to forfeit $889m in restitution.
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