Guo Wengui Arrested in $1 BILLION Fraud Conspiracy

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    ReutersChinese billionaire Guo Wengui—a close friend of right-wing media personality Stephen K. Bannon who has long been on the FBI’s radar—has been charged in a massive, $1 billion fraud conspiracy, the feds announced Wednesday.On Wednesday, federal prosecutors unsealed a 12-count indictment against Guo, who is also known as “Miles Kwok,” “Brother Seven,” and “The Principal,” charging the mysterious moneyman with a raft of wire fraud, securities fraud, bank fraud, and money laundering counts. According to authorities, Guo, 52, and co-conspirator Jin Ming Je, 56, misappropriated some $1 billion in “fraudulently obtained funds during the course of their conspiracy.” Guo allegedly used the money, for, among other things, a 50,000-square-foot New Jersey mansion, upkeep on a $37 million yacht, a $3.5 million Ferrari, Chinese and Persian rugs worth nearly $1 million, a $4.4 million Bugatti sports car, a Lamborghini Aventador SVJ Roads, a $62,000 television, a $53,000 fireplace log cradle holder, and two $36,000 mattresses.Read more at The Daily Beast.

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