On March 15, Guo Wengui, a fugitive Chinese tycoon and Steve Bannon friend, was arrested on charges of fraud and money laundering. He is suspected of stealing money from thousands of internet followers, according to federal officials.
The allegations came when, purportedly, the businessman’s wealth decreased considerably. Guo Wengui was worth $1.1 billion in 2015, according to Opoyi, however, he declared bankruptcy in February 2022.
Wengui estimated that his financial resources had decreased to between $50,000 and $100,000.
According to the Wall Street Journal, Guo Wengui was formerly the 73rd richest person in China, but in 2014, Chinese officials accused him of bribery, kidnapping, money fraud, and assault. After leaving China, he got friends with former Donald Trump colleague Steve Bannon.
Guo Wengui, one of the company’s co-founders
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According to the New York Times, Guo Wengui amassed his fortune through lucrative property transactions in China.
In 2006, after a lawmaker attempted to thwart one of Wengui’s real estate transactions, he provided officials with an unlawful tape of the lawmaker.
Wengui asserted in 2014 that the Chinese government was persecuting him for political reasons, following a series of claims against him.
After escaping to the United States, he aligned himself with Steve Bannon and began to identify as a China-skeptic political activist.
The Wall Street Journal indicates that Wengui and Bannon co-founded GTV Media Corporation. Axios reports that Wengui paid Bannon $1 million for consulting services at G News.
Former Trump strategist Steve Bannon’s close buddy and collaborator Guo Wengui was today detained in New York for allegedly orchestrating a $1 billion-plus fraud scheme, according to federal authorities.
According to CNBC, in 2020 Guo Wengui and Steve Bannon built a complicated online disinformation network to advertise questionable Covid-19 therapy to clients.
In 2021, he had to pay repayments of $539 million due to suspicions of illegal funding.
Officials evaluate Wengui’s allegations
In a written declaration, US Attorney Damian Williams revealed the claims against Wengui.
As stated by Williams:
“[Guo] is accused of filling his coffers with the money he stole, including the purchase of a 50,000-square-foot house for himself and his close relatives, a $3.5 million Ferrari, and even two $36,000 beds, in addition to supporting a $37 million luxurious yacht.”
Michael J. Driscoll, deputy director of the FBI, condemned Wengui. As stated by Driscoll:
“The FBI continues to prioritize the investigation of complex financial crimes, and those who commit them will face the consequences of the criminal justice system.”
The Guardian reports that when Wengui was detained, a fire broke out in his apartment. FBI agents were supposedly present in the apartment during the incident, and they now suspect Wengui orchestrated it to destroy potential evidence.
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