A once-prominent Chinese property billionaire who built a new public profile as a vocal critic of the Chinese government after fleeing to the United States has received a 30-year federal prison sentence for orchestrating a decade-long billion-dollar criminal fraud conspiracy.
Guo Wengui, also known by his aliases Miles Guo and Ho Wan Kwok, fled China for the U.S. in 2017 while facing domestic corruption investigations linked to his real estate empire. Once in the U.S., he rebranded himself as an opposition figure, cultivated a large, loyal online following among overseas Chinese communities, and forged high-profile connections with anti-China political figures including former Trump White House advisor Steve Bannon.
After a lengthy trial, Guo was convicted on multiple felony counts: racketeering conspiracy, wire fraud, securities fraud, and money laundering. Prosecutors laid out that between 2018 and 2023, Guo raised more than $1 billion from his thousands of trusting followers through fake investment projects and fraudulent cryptocurrency ventures. Instead of using the funds for political advocacy or legitimate business activities as he promised, the prosecution proved Guo diverted nearly all of the money to sustain an extravagant personal lifestyle, including a 50,000-square-foot luxury mansion, a $1 million custom Lamborghini, and a $37 million private yacht.
The sentence was handed down by U.S. District Judge Analisa Torres in a Manhattan federal courtroom, which was filled with Guo’s supporters during the proceeding. In her remarks, Judge Torres emphasized that Guo deliberately exploited the specific beliefs of his supporters, many of whom were seeking political change in China, to line his own pockets.
Speaking to reporters after the sentencing, U.S. Attorney Sean S. Buckley reinforced the core message of the ruling. “Rather than being satisfied with the many legitimate opportunities afforded to him, Guo exploited the trust that thousands had placed in him for his own greed,” Buckley said. “Today’s sentence shows that fame and wealth do not place you above the law, and that fraudsters who victimise families to enrich themselves will be met with significant consequences.”
Guo has consistently maintained his innocence throughout the legal process, claiming all raised funds were dedicated to his political activism work. His legal team has not yet announced whether they will appeal the conviction and sentence.