Steve Bannon Pal Guo Wengui Arrested in $1 BILLION Fraud Conspiracy
Chinese billionaire Guo Wengui—a close friend of right-wing media personality Stephen K. Bannon who has long been on the FBI’s radar—has been charged in a massive, $1 billion fraud conspiracy, the feds announced Wednesday.
Federal prosecutors unsealed a 12-count indictment against Guo, who is also known as “Miles Kwok,” “Brother Seven,” and “The Principal,” charging the mysterious moneyman with a raft of wire fraud, securities fraud, bank fraud, and money laundering counts.
Guo, 52, and co-conspirator Jin Ming Je, 56, misappropriated some $1 billion in “fraudulently obtained funds during the course of their conspiracy,” according to the Department of Justice. Guo allegedly used the money, for, among other things, a 50,000-square-foot New Jersey mansion, upkeep on a $37 million yacht, a $3.5 million Ferrari, Chinese and Persian rugs worth nearly $1 million, a $4.4 million Bugatti sports car, a Lamborghini Aventador SVJ Roadster, a Rolls-Royce Phantom EWB, a $62,000 television, a $53,000 fireplace log cradle holder, and two $36,000 mattresses that are apparently made of horse hair.