Exiled Chinese billionaire Guo Wengui was found guilty Tuesday in his trial of defrauding investors as part of a colossal fraud.
Jurors heard how victims were drawn to Guo, a longtime ally of former Donald Trump adviser Steve Bannon, by his self-styled crusade to bring down the Chinese Communist Party—which at one point even saw him announce the formation of a New Federal State of China.
Instead, their millions were pumped into sundry schemes, from cryptocurrencies to club memberships, funding not only plush mansions and fast cars but also, prosecutors alleged, multiple entities set up by Guo and Bannon.
