Miles Guo Arrested For Orchestrating Over $1 Billion Dollar Fraud Conspiracy (Trial set for April '24)

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DOJ Filing: Steve Bannon Is a “Co-Conspirator” in a $1 Billion Fraud Case​

Prosecutors identified the former Trump adviser as part of a massive criminal conspiracy allegedly orchestrated by Chinese tycoon Guo Wengui.​

The federal filing does not elaborate on Bannon’s alleged role in the conspiracy. Former federal prosecutors said that the government’s reference to Bannon as a co-conspirator is likely aimed at ensuring evidence related to the former Trump adviser can be admitted during trial. Out of court statements that would otherwise be barred as hearsay can be used as evidence if they come from an alleged co-conspirator, even if that person is not charged, these lawyers explained.

The Justice Department probably identified Bannon as part of the alleged criminal scheme to ensure prosecutors can use evidence linked to him against Guo, said Joshua Naftalis, a former assistant United States attorney in the Southern District. “Being labeled a co-conspirator is not something anyone is looking for obviously, but it’s tough to say if Southern District will bring charges” against Bannon, Naftalis, said. “It is unlikely they will do it before the main trial.”

 

[essentialsaltes]

Exiled Chinese billionaire Guo Wengui found guilty on federal fraud charges​

Guo Wengui, the exiled Chinese billionaire, was convicted in a US federal court on Tuesday for defrauding thousands of his followers of more than $1 billion.

Guilty of nine out of 12 counts involving racketeering conspiracy and securities fraud, wire fraud and money laundering, Guo, who is also known as Miles Guo, “faces decades in prison” when the judge hands down a sentence on November 19, according to the prosecutor.

Guo is a close ally to former President Donald Trump’s adviser Steve Bannon, who reported to federal prison earlier this month to serve a four-month sentence for defying a congressional subpoena.

During closing arguments, prosecutor Ryan Finkel told the jury that Bannon was paid $1 million by Guo because Guo wanted to “use Bannon’s notoriety and his fame to promote himself.”

Prosecutors said Guo used money raised from victims as his “personal piggy bank” to maintain his luxurious lifestyle in the United States, after governments of China and Hong Kong seized his assets for money laundering investigations in 2017.

 

[Pommer]

Exiled Chinese billionaire Guo Wengui found guilty on federal fraud charges​

Guo Wengui, the exiled Chinese billionaire, was convicted in a US federal court on Tuesday for defrauding thousands of his followers of more than $1 billion.

Guilty of nine out of 12 counts involving racketeering conspiracy and securities fraud, wire fraud and money laundering, Guo, who is also known as Miles Guo, “faces decades in prison” when the judge hands down a sentence on November 19, according to the prosecutor.

Guo is a close ally to former President Donald Trump’s adviser Steve Bannon, who reported to federal prison earlier this month to serve a four-month sentence for defying a congressional subpoena.

During closing arguments, prosecutor Ryan Finkel told the jury that Bannon was paid $1 million by Guo because Guo wanted to “use Bannon’s notoriety and his fame to promote himself.”

Prosecutors said Guo used money raised from victims as his “personal piggy bank” to maintain his luxurious lifestyle in the United States, after governments of China and Hong Kong seized his assets for money laundering investigations in 2017.

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