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Search resuls for: "Guo Wengui"


9 mentions found


☆ U.S. charges exiled Chinese businessman Guo Wengui with $1 bln fraud
  + stars: | 2023-03-15 | by ( Jonathan Stempel | Industry Insight | Messaging Platform | ) www.reuters.com   time to read: +5 min
[1/5] Guo Wengui (also known as Miles Kwok) holds a news conference with Steve Bannon in New York, New York, U.S., November 20, 2018. Guo, 52, was charged with 11 criminal counts including securities fraud, wire fraud and concealment of money laundering, after "lining his pockets with the money he stole," U.S. Attorney Damian Williams in Manhattan said in a statement. They will propose a "robust bail package," according to Tamara Giwa, a federal public defender who represented Guo at Wednesday's hearing. Bannon is not accused of wrongdoing in Guo's criminal case. It said it also seized assets purchased with proceeds from Guo's alleged fraud, including a Lamborghini Aventador, and wants Guo to forfeit the yacht.
☆ DOJ charges Chinese businessman Guo Wengui, associate of Steve Bannon, in $1 billion fraud
  + stars: | 2023-03-15 | by ( Dan Mangan | ) www.cnbc.com   time to read: +4 min
Former White House Chief Strategist Steve Bannon greets fugitive Chinese billionaire Guo Wengui before introducing him at a news conference on November 20, 2018 in New York. The controversial exiled Chinese billionaire businessman Guo Wengui — an associate of former Trump White House advisor Steve Bannon — was arrested in New York on Wednesday for orchestrating what federal prosecutors called a more than $1 billion fraud conspiracy that duped online followers with promises of outsized investment returns. Former President Donald Trump months later pardoned Bannon in that case, shortly before Trump left the White House. IThe defendants are charged with wire fraud, securities fraud, bank fraud, and money laundering in the criminal case. Both Guo and Je face ossible sentences of up to 20 years in prison if convicted.
☆ Feds arrest Chinese tycoon linked to Steve Bannon and charge him with defrauding online fans to fund his yacht, Ferrari, and $36,000 mattresses
  + stars: | 2023-03-15 | by ( Britney Nguyen | ) www.businessinsider.com   time to read: +1 min
A Chinese tycoon was arrested and charged with defrauding his online followers out of over $1 billion. Feds say Guo Wengui used stolen money to buy a $3.5 million Ferrari and two $36,000 mattresses. Wengui is facing various fraud and money laundering charges, the US Attorney's Office for the Southern District of New York announced on Wednesday. He allegedly asked his followers to invest in or give money to GTV, the Himalaya Farm Alliance, and the Himalaya Exchange. He also allegedly used the money to finance a $37 million luxury yacht, according to the charges.
☆ UBS loses bid to stop Chinese businessman's $500 mln London lawsuit
  + stars: | 2023-03-01 | by ( Sam Tobin | ) www.reuters.com   time to read: +2 min
LONDON, March 1 (Reuters) - UBS (UBSG.S) faces a $500 million lawsuit in London brought by an exiled Chinese businessman after an appeal court on Wednesday rejected the Swiss bank’s latest attempt to have the case thrown out. UBS had previously told a lower court that the claims are denied in their entirety. Lawyers representing Guo and Ace Decade did not immediately respond to a request for comment. Judge Geoffrey Vos said in the written ruling on Wednesday that “the damage caused to Ace Decade and (Guo) occurred in London when the H-shares ... were sold by UBS London”. “UBS London significantly participated in the events which have given rise both to the claim and to the loss claimed.”Reporting by Sam Tobin; additional reporting by Kirstin Ridley.
☆ Hunter Biden warns Steve Bannon, Rudy Giuliani, Roger Stone, and 11 others to preserve records for potential litigation following laptop scandal
  + stars: | 2023-02-12 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com   time to read: +4 min
Hunter Biden's attorney sent notices to 14 people at the center of the laptop scandal. Rudy Giuliani's attorney told Insider that Biden's counsel is "acting out of desperation." The personal life and business dealings of Hunter Biden, President Joe Biden's middle child, have been the center of Republican criticism. Twenty days before the 2020 election, the contents of Hunter Biden's laptop became a controversial and confusing political scandal, New York Magazine reported. Rocca, Lowell, Wengui's attorneys, and an attorney for Stone, Bruce S. Rogow, did not immediately respond to Insider's request for comment.
☆ An exiled billionaire has given Chinese protesters 7 tips for stonewalling police if they get arrested
  + stars: | 2022-11-30 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +3 min
Exiled Chinese billionaire Guo Wengui shared tips for how protesters can deal with police questioning. Guo posted his tips on Gettr, the social media site relaunched by a former Donald Trump aide. Guo Wengui, who is also a political activist, shared the tips in a post on Tuesday. Gettr is a social media app that was previously in Chinese and used by dissidents to oppose the Chinese Communist Party, according to Politico. Guo was accused of corruption and fled to the US in 2014 as the Chinese government initiated a campaign to discredit him.
☆ A judge just tossed out the Justice Department's bid to force Trump donor and casino mogul Steve Wynn to register as a foreign agent
  + stars: | 2022-10-12 | by ( C. Ryan Barber | ) www.businessinsider.com   time to read: +6 min
In a 20-page opinion, Judge James Boasberg sided with Wynn's argument that the Justice Department lacked the power to force the disclosure of his alleged stint as a foreign agent of China. It was not immediately clear if the Justice Department would appeal. A Justice Department spokesperson did not immediately respond to a request for comment. In a prepared statement, Wynn's lawyers Reid Weingarten and Robert Luskin said they were "delighted" by the dismissal of a Justice Department lawsuit they described as "ill-conceived." The Justice Department said Wynn agreed in 2017 to lobby on behalf of China in exchange for favorable treatment of his casino business in Macau.
☆ Feds plan to call Leonardo DiCaprio and former Trump White House chief of staff John Kelly at trial of Fugees rapper Pras Michel
  + stars: | 2022-10-10 | by ( C. Ryan Barber | ) www.businessinsider.com   time to read: +6 min
Pras Michel, a founding member of the Fugees hip-hop group, is standing trial in DC next month. He's accused of illegally lobbying Trump officials to resolve an inquiry into the 1MDB scandal. In a court filing Sunday, prosecutors revealed a witness list that includes DiCaprio and top Trump administration officials, including former White House chief of staff John Kelly and former national security advisor H.R. As part of the scheme, prosecutors said, Michel recruited about 20 so-called "straw donors" who made campaign contributions with Low's money. Michel is charged with violating both FARA and that other statute, known as 951, in his alleged lobbying schemes.
☆ Steve Bannon surrenders in Manhattan 'We Build the Wall' donor-scam case
  + stars: | 2022-09-08 | by ( Laura Italiano | ) www.businessinsider.com   time to read: +3 min
Last time Bannon was busted in the "We Build the Wall" donor-scam case, it was aboard a $28 million yacht. And unlike after his 2020 arrest, Trump can't throw Bannon a life preserver in the form of a federal pardon. After he's booked, "they'll probably keep him in the DA-squad office, where they fingerprinted him, or the DA-Investigators' office," Saland said. There, he'll wait for his afternoon court appearance — quite possibly in a "1970s-era chair," Saland said. But it's certainly not going to be anything like a $28 million yacht."
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