Chinese tycoon Guo Wengui has been convicted by a New York jury for swindling over $1 billion from his supporters to fund his opulent lifestyle. Guo, known for his outspoken criticism of Beijing, faced charges including racketeering and fraud, with potential sentences of up to 20 years each. His trial revealed a web of deceit where he allegedly used his influence to lure investors into schemes under the guise of political activism against the Chinese Communist Party. Despite claims of persecution by Beijing, Guo’s conviction marks a stunning turn for the once high-flying businessman, whose lavish possessions and strategic alliances came under intense scrutiny during the proceedings.
Controversial China critic Guo Wengui was found guilty on Tuesday by a New York jury of defrauding his supporters of over $1 billion to fund his opulent lifestyle.
Nine of the twelve federal accusations against Guo—including a broad charge of racketeering and many associated fraud charges—were up...