Self-exiled Chinese businessman Guo Wengui, also known by aliases such as Miles Guo and Brother Seven, has been convicted by a US court for defrauding his online followers in a billion-dollar scam. The court found Guo guilty on nine of the 12 criminal charges, including racketeering, fraud, and money laundering. His sentencing is set for November 19, where he faces the possibility of decades behind bars.
Guo, a vocal critic of the Chinese Communist Party (CCP), had been living in the US since 2017 after fleeing China. He was arrested in March 2023 and has remained in custody ever since. In addition to his political activism, Guo had been closely associated with Stephen Bannon, a former White House chief strategist under Donald Trump, collaborating on ventures such as the New Federal State of China—a movement aimed at overthrowing the CCP.
According to prosecutors, between 2018 and 2023, Guo managed to raise over $1 billion from his online followers through various investment and cryptocurrency schemes. Rather than invest the funds, Guo reportedly used the money to finance a lavish lifestyle that included a $1 million Lamborghini, a $37 million yacht, and a sprawling 50,000-square-foot mansion.
“Thousands of Guo’s online followers were victimized so that Guo could live a life of excess,” said Damian Williams, the US Attorney in Manhattan, following the guilty verdict.
Despite Guo’s legal team attempting to portray him as a dedicated activist fighting against China’s political system, the jury was not swayed, instead focusing on the fraudulent activities he orchestrated.
Guo’s political influence and ties to high-profile, right-wing US figures earned him a significant online following, particularly among Chinese nationals living in Western countries. His collaboration with Bannon, who is currently serving a four-month sentence for contempt of Congress, further heightened his public profile.
With the court’s decision, Guo’s future remains uncertain, but his conviction marks a significant downfall for a man once seen as a powerful figure in political activism against the CCP.
