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Guo Wengui, a fugitive Chinese language billionaire, was arrested on Wednesday morning in New York on expenses that he orchestrated a fancy conspiracy to defraud hundreds of his on-line followers out of $1 billion, the authorities mentioned.
Federal prosecutors in Manhattan mentioned Mr. Wengui, 52, was charged with “lining his pockets with the cash he stole,” which they mentioned included shopping for for himself and his shut family a 50,000-square-foot mansion, a $3.5 million Ferrari and two $36,000 mattresses, in addition to financing a $37 million luxurious yacht.
Mr. Wengui is a enterprise affiliate of Stephen Ok. Bannon, a onetime high adviser to former President Donald J. Trump. It was on a yacht belonging to Mr. Wengui that Mr. Bannon was arrested in a fraud case in August 2020; Mr. Trump later pardoned Mr. Bannon, who had pleaded not responsible, on these expenses.
A lawyer for Mr. Wengui had no rapid remark.
It is a breaking information story and might be up to date.
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