Who is Guo Wengui? 10 things to know about the exiled Chinese billionaire sentenced to 30 years in US prison

Self-exiled Chinese businessman Guo Wengui, also known as Ho Wan Kwok and Miles Guo, was sentenced to 30 years in prison on Monday, June 29 after being convicted of orchestrating a massive fraud scheme that prosecutors said raised more than $1 billion from his supporters while promoting anti-communist views.

According to trial evidence, Guo stole at least $550 million from thousands of people who invested in his companies and "did not appear to regret his actions," US District Judge Analisa Torres said at the sentencing hearing, as reported by multiple media outlets, including Courthouse News. Earlier, in July 2024, a jury found Guo guilty on nine of 12 charges, including racketeering, securities fraud, wire fraud, and money laundering.

Here are 10 things to know about Guo Wengui:

Guo Wengui was born in Shandong

Guo Wengui was born in Shandong, China, and made his fortune through real estate, according to Channel News Asia. Although his age has been disputed over the years, the China-based outlet Caixin Global reported that he is 59 years old.

He left China in 2014

According to The Wall Street Journal, Guo left China in 2014 after one of his political connections was arrested. He later moved to the United States in 2015.

A critic of China's Communist Party

After arriving in the US, Guo launched an online campaign in 2017, accusing China's political and business elites of corruption. He built a large following by presenting himself as a prominent critic of the Chinese Communist Party (CCP).

Co-founder of the New Federal State of China

In 2020, Guo teamed up with Steve Bannon, a former adviser to Donald Trump, to launch the New Federal State of China (NSFC), a political movement that said its goal was to overthrow the Chinese Communist Party.

He promoted GTV Media Group to followers

According to the US Department of Justice, on or about April 21, 2020, Guo posted a video on social media announcing the unregistered offering of GTV Media Group, Inc. common stock through a private placement.

The Justice Department said Guo described the investment terms during the video and directed potential investors to contact him through a mobile messaging application with questions about the offering.

He staged a high-profile publicity campaign in New York

Guo also organized a publicity stunt in which a fleet of propeller planes flew banners over New York City announcing a "Federal State of New China" while criticizing the Chinese government.

Filed for bankruptcy in 2022

In 2022, Guo filed for bankruptcy protection in a US court, listing assets worth between US$50,001 and US$100,000 and liabilities ranging from US$100 million to US$500 million, according to The Standard, citing court filings.

Prosecutors accused him of raising more than $1 billion

Authorities alleged that between 2018 and 2023, Guo raised more than US$1 billion by encouraging his social media followers to invest in a series of companies and cryptocurrency ventures.

He was arrested in New York and later convicted

The FBI arrested Guo in March 2023 at his luxury Manhattan apartment overlooking Central Park. In July 2024, a jury unanimously found him guilty on nine of 12 charges, including securities offenses, wire fraud, and money laundering.

A billionaire

At the height of his business career, Guo was ranked 74th on the 2014 Hurun China Rich List, with an estimated net worth of US$2.6 billion.

However, according to Forbes' 2015 Billionaires List, Guo had an estimated net worth of US$1.1 billion as of March 2, 2015. Forbes said Guo's wealth came primarily from real estate and noted that his highest-profile investment was Pangu Plaza, an office and hotel complex overlooking Beijing's Olympic Stadium. The publication also said he controlled a business that owned a stake in Founder Securities.