Chinese business tycoon and Bannon ally Guo Wengui arrested in $1bn fraud conspiracy
by Martin Pengelly in New York and Amy Hawkins, senio from US news | The Guardian on (#69V0D)
US attorney says Wengui, also known as Miles Guo and Ho Wan Kwok, used stolen money to buy a $3.5m Ferrari and finance a $37m yacht
Guo Wengui, a self-exiled Chinese tycoon with close links to prominent Trumpist Republicans including Steve Bannon, has been indicted on 12 counts relating to an alleged $1bn fraud.
The charges announced by the US attorney for the southern district of New York on Wednesday include wire fraud, securities fraud, bank fraud and money laundering.
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