Chinese realty baron stole $1 billion from followers: US prosecutors

Exiled Chinese businessman Miles Guo scammed his followers out of more than $1 billion after Chinese authorities seized his property, a federal prosecutor said on Friday as Guo's fraud trial began in New York.

Assistant US Attorney Micah Fergenson told jurors that Guo, who was a real estate developer in China and moved to New York, amassed an online following through videos criticizing the Chinese government. After authorities in China and Hong Kong seized his assets in response, Guo started pitching fraudulent investments to his followers, Fergenson said.

"Miles Guo ran a simple con on a grand scale. He lived a billionaire's lifestyle using money he stole from people he tricked and cheated," Fergenson said. The Manhattan jury of 12 will weigh allegations that Guo used his prolific online presence and hundreds of thousands of followers to bring in funds he spent on himself and his family.


Guo, who is known by several names including Guo Wengui, Miles Kwok and Ho Wan Kwok, has been jailed in Brooklyn since his March 2023 arrest.