An exiled Chinese businessman and vocal critic of Beijing has
been convicted in the US of stealing hundreds of millions
of dollars from online followers jailed since March 2023.
Guo's convictions ranged from racketeering conspiracy to wire fraud.
His seven week trial ended Tuesday. Federal prosecutors in
Manhattan alleged Guo raised over$1 billion through fraudulent investment
and Cryptocurrency schemes from 2018 to 2023 reportedly told his
followers, some of the investment would go to a
challenging China's government. Prosecutors say Guo instead spent the
money on luxury goods including a new Jersey mansion,
a red Lamborghini and a yacht. His defense tried
to portray Guo, a former real estate mogul as
an ardent dissident who flaunted his wealth as part of
his critique of the Chinese Communist Party. Guo is
said to be sentenced in November and could face decades
in prison. He attracted allies such as Steve Bannon
Donald Trump's one time adviser during his presidency. Bannon
was arrested on Guo's yacht in 2020 in an unrelated
fraud case and was later pardoned by Trump