Chinese businessman Guo Wengui has been arrested for orchestrating a fraud conspiracy of over $1 billion dollars with his financier William Je, who is currently at large. Over $630 million of alleged fraud proceeds were seized by the U.S. government. The U.S. Attorney in the Southern District of New York announced:
the unsealing of a twelve-count Indictment charging HO WAN KWOK, a/k/a “Miles Guo,” a/k/a “Miles Kwok,” a/k/a “Guo Wengui,” a/k/a “Brother Seven,” a/k/a “The Principal,” and KIN MING JE, a/k/a “William Je,” with various wire fraud, securities fraud, bank fraud, and money laundering charges. JE, who is KWOK’s financier, is also charged with obstruction of justice. The charges in the Indictment arise from an alleged sprawling and complex scheme by the defendants, and others, to solicit investments in various entities and programs through false statements and representations to hundreds of thousands of KWOK’s online followers.
Guo and Bannon partnership since 2017
Starting around 2017 Guo Wengui and Stephen Bannon embarked on several business and nonprofit initiatives together. Bannon is not charged in the indictment unsealed today. Below are some key milestones in the Bannon and Guo partnership.
August 17, 2016 – Bannon became Chief Executive of the Trump Campaign.
Jan 2017 to Aug 2017 – Bannon was White House Chief Strategist and Senior Counselor to the President
2017 – George Nader with Elliott Broidy helped Bannon secure a $100,000 speaking gig at Hudson Institute conference for a speech against Qatar.
2017 – Elliott Broidy involved in scheme with Jho Lho, who was behind the 1MDB scandal, to try to extradite Guo Wengui back to China. Steve Wynn also involved in effort to extradite Guo Wengui.
2017 – Bannon started working closely with Guo Wengui on various funds, nonprofits and ventures.
2018 – 2019
Rule of Law Society
2018 – Bannon and Guo launched Rule of Law Society.
2018 – Bannon’s nephew (also employed by Bannon’s Citizens of the American Republic) is a signatory on the trademark for Guo Wengui’s G-Fashion brand.
The Himalaya Embassy
2019 – Argentine billionaire Eduaro Eurnekian is behind “The Himalaya Embassy” in New York City used by Guo Wengui and Bannon.
2020 – 2021
GTV Media Group
2020 – GTV Media was launched by Guo Wengui and Bannon. Several directors of GTV included Bannon, Kyle Bass, John A. Morgan and Darren Blanton.
Darren Blanton is an investor in Rumble and founded Colt Ventures and invested in Viz Sense. Coordinated 2016 Trump campaign ‘Big League Truth Team’ with Don Jr, Flynn, Thiel.
Sept 2021 – The SEC charged three companies tied to Guo Wengui. Companies agreed to pay more than $539 million settlement to investors.
Voice of Guo Media Inc.
Saraca Media Group Inc.
GTV Media Group
Stephen Bannon’s Network Connections
View more details on Stephen Bannon’s network connections in this chart that includes Donald Trump, Guo Wengui, Erik Prince, the Mercer family, and Andy Badolato.
Guo Wengui’s arrest in the news
Exiled Chinese Billionaire Charged in New York With Financial Conspiracy (The New York Times)
- Guo Wengui, a fugitive financier and associate of Steve Bannon, is accused by federal prosecutors of engaging in a complex scheme to bilk thousands of online followers.
- Guo Wengui, a fugitive Chinese billionaire, was arrested on Wednesday morning in New York on charges that he orchestrated a complex conspiracy to defraud thousands of his online followers out of at least $1 billion, the authorities said.
- A federal indictment unsealed in Manhattan charged that Mr. Guo and a co-defendant took advantage of Mr. Guo’s “prolific online presence” to solicit investments in various entities and programs “by promising outsized financial returns and other benefits.”
MAGA Mogul Guo Wengui Charged in $1 Billion Fraud Scheme (Mother Jones)
- Steve Bannon’s wealthy patron “led a complex conspiracy to defraud thousands of his online followers,” federal prosecutors allege.
- Guo Wengui, an erratic Chinese exile who has a close relationship with Steve Bannon, was arrested Wednesday and charged with running a massive scheme to defraud an international coterie of online fans out of more than $1 billion.
- According to a federal indictment unsealed this morning, Guo, who also uses the names Miles Guo and Ho Wan Kwok, has been charged with 12 counts, including wire fraud, securities fraud, bank fraud, and money laundering. Prosecutors in the Southern District of New York also said that they have seized approximately $634 million from 21 different bank accounts controlled by Guo since September. Guo has previously denied cheating followers and has attributed various legal problems to what he claims is an effort by the Chinese government to silence him.
A Chinese Businessman’s Trek From Beijing Gadfly to Steve Bannon Confidant to Fraud Suspect (The Wall Street Journal)
- Prosecutors say Guo Wengui diverted investor money to buy a yacht, Ferrari and $36,000 mattress.
- Chinese businessman Guo Wengui, who gained attention by lobbing corruption allegations at Beijing from a Manhattan penthouse and later launched a media company with Trump confidant Steve Bannon, was arrested Wednesday and accused of orchestrating a $1 billion fraud.
- Mr. Guo took advantage of the hundreds of thousands of followers he amassed online, prosecutors alleged, by soliciting investments in his cryptocurrency, media and other companies. Instead, he used the money to buy a $26 million home in New Jersey, a yacht, a Ferrari and a $36,000 mattress, among other items, said the indictment, which charged Mr. Guo with 11 counts of fraud and money laundering. Prosecutors said they seized $634 million in criminal proceeds and assets that included a Lamborghini.
Chinese businessman arrested in $1 billion fraud conspiracy (The Washington Post)
- A business tycoon long sought by the government of China and known for cultivating ties to Trump administration figures including Steve Bannon was arrested Wednesday in New York on charges that he oversaw a $1 billion fraud conspiracy.
- Guo Wengui, 54, was accused along with his financier and chief of staff of various crimes, including wire and securities fraud. He was charged in court papers under the name Ho Wan Kwok.
Chinese billionaire arrested and charged in alleged fraud conspiracy that bilked investors of more than $1 billion (CNN)
- Chinese billionaire and proclaimed dissident Guo Wengui was arrested Wednesday and charged with defrauding thousands of followers out of more than $1 billion through complex investment schemes, US prosecutors announced Wednesday.
- Guo, a staunch critic of the Chinese government who is exiled in Manhattan and close to former Donald Trump adviser Steve Bannon, was taken into custody in New York on Wednesday morning. He is charged with defrauding or misappropriating investor money using different schemes, including his media company GTV Media Group, a farm loan program through Himalaya Farm Alliance, and a cryptocurrency called Himalaya Coin.