Self-exiled Chinese businessman Guo Wengui faces “decades in prison” after he was convicted by a Manhattan federal jury for defrauding his online followers of millions of dollars, U.S. Attorney Damian Williams said in a statement following the July 16 verdict.
Mr. Guo, also known as Miles Guo, was found guilty on nine of 12 charges, including racketeering conspiracy and fraud charges in the Southern District of New York. Federal prosecutors said Mr. Guo defrauded thousands of victims of more than $1 billion in different schemes from 2018 to 2023 and spent the money on luxury goods including a New Jersey mansion, a red Lamborghini, and a yacht.
