Reuters
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.
On 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.
According to authorities, Guo and his co-conspirators misappropriated some $1 billion in “fraudulently obtained funds during the course of their conspiracy.” He allegedly used the money, for, among other things, a 50,000-square-foot New Jersey mansion, a $3.5 million Ferrari, Chinese and Persian rugs worth nearly $1 million, a $4.4 million Bugatti sports car, a Lamborghini Aventador SVJ Roads., and two $36,000 mattresses.