Former real-estate developer Guo Wengui has said he fled China in 2014 after hearing that a state security official to whom he was close would be arrested.
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.