Who Is Guo Wengui? Chinese Tycoon Sentenced To 30 Years In US Prison Over Billion-Dollar Fraud

Chinese tycoon Guo Wengui, who was once considered to be one of China's richest businessmen, has been sentenced to 30 years in jail in the US for running a billion-dollar scam.

In 2017, Wengui fled China to the US, where he reinvented himself as a critic of the Communist Party and built a loyal online following. But Guo was later convicted on charges of racketeering, fraud and money laundering, according to a BBC report.

New York court judge Analisa Torres said Guo had "preyed on those seeking to bring democracy to China", taking their money to fund his lavish lifestyle.

Who is Guo Wengui

Guo Wengui, also known as Miles Guo or Miles Kwok, is a Chinese real estate tycoon-turned-political dissident whose dramatic rise and fall has drawn global attention.

Once ranked among China's richest businessmen with an estimated fortune of $2.6 billion, he fled to the United States in 2015 amid Beijing's anti-corruption crackdown.

From exile to conviction

From exile, Guo accused senior Chinese Communist Party officials of corruption and partnered with former White House strategist Steve Bannon to launch media ventures.

However, his fortunes reversed after US authorities charged him with orchestrating a billion-dollar fraud scheme. Convicted in 2024, Guo was sentenced to 30 years in prison in 2026.

Prosecutors said Guo raised more than $1bn (£760m) from online followers, who joined him in investment and cryptocurrency schemes between 2018 and 2023.

The money he raised was used to fund Guo's lavish lifestyle, which included a 50,000-square-foot mansion, a $1m Lamborghini and a $37m yacht, they said.

Guo denied the allegations, saying the funds were used for his political activism.