Chloe Atkins reports for the NBC News Investigative Unit, based in New York. She frequently covers crime and courts, as well as the intersection of reproductive health, politics and policy.
Yvette Wang, an accomplice of exiled and indicted Chinese billionaire Guo Wengui, pleaded guilty in New York last week to defrauding many investors out of over $1 billion dollars in 'a complex scheme,' prosecutors said. Just a few weeks before her scheduled trial in New York federal court alongside Guo, who faces similar charges, Wang opted to plead guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.
Wang’s guilty plea carries a maximum sentence of 10 years. As part of her plea, she agreed to pay $1.4 billion in restitution and forfeit $1.4 billion to the United States, prosecutors said. She will be sentenced Sept. 10. Meanwhile, Guo — who has lived in the U.S. since around 2015 and has amassed a “substantial online following” — has pleaded not guilty to each of the 12 counts, including wire fraud, securities fraud, bank fraud and money laundering.
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