Chinese property tycoon Guo Wengui, based in New York, has been charged with orchestrating a billion-dollar fraud. Along with one of his business partners, Kin Ming Je, he is facing charges of wire fraud, securities fraud, bank fraud, and money laundering. Guo is a critic of the Chinese government and a former ally of Steve Bannon, the ex-White House chief strategist. Interestingly, a fire broke out at Guo’s Manhattan penthouse apartment just hours after his arrest. The cause of the fire is still under investigation, and no injuries were reported.
The charges against Guo and Je were announced on Tuesday by Audrey Strauss, the US attorney for the Southern District of New York. The indictment alleges that the pair “engaged in a wide-ranging conspiracy to commit multiple fraudulent schemes and to launder millions of dollars.” The charges are related to their activities in the financial sector, including their involvement in the attempted acquisition of a US-based insurer.
Guo, who is also known as Miles Kwok and is a self-described whistleblower, has been an outspoken critic of the Chinese government and has claimed to have evidence of corruption at the highest levels of the Communist Party. He has been a thorn in the side of the Chinese authorities for years, and his criticism of the government has led to his being branded a traitor by Beijing.
The charges against Guo come amid heightened tensions between the US and China, and they could further strain relations between the two countries. It remains to be seen how the Chinese government will respond to the news of Guo’s arrest and the charges against him. However, given Guo’s high-profile status and his outspoken criticism of the government, it is likely that this case will attract a great deal of attention from both the Chinese and international media.