Reported 5 months ago
Exiled Chinese businessman Miles Guo, also known as Guo Wengui, is facing trial in New York for allegedly scamming his followers out of over $1 billion after his assets were seized by Chinese authorities. The prosecutor accused Guo of running a fraudulent investment scheme to fund his lavish lifestyle, using funds he stole from deceived individuals. Guo's defense argues that his businesses were legitimate and aimed to oppose the Chinese Communist Party, while highlighting his precautions against Chinese government disruption. Guo faces multiple charges including fraud, racketeering, conspiracy, and money laundering, with the trial expected to last until July.
Source: YAHOO