Outspoken Chinese billionaire Guo Wengui, who has ties to former president Donald Trump’s inner-circle, is accused of orchestrating a complex fraud.
Exiled Chinese tycoon Guo Wengui likes the finer things in life, like superyachts and custom-made Italian suits, but that isn’t against the law, his lawyer told the jury in his billion-dollar fraud and racketeering trial.
Guo Wengui is accused of tricking investors into handing over $US1 billion for what they thought were promising investment opportunities.The case involves the intriguing background and wealth of a businessman who amassed a strong online following criticising the Chinese Communist Party and was an associate of former Donald Trump adviser Steve Bannon.
Guo fled to the US in 2015 and settled in a $US67.5 million penthouse in the Sherry-Netherland Hotel on the Upper East Side. He built a strong online following criticising the Chinese Communist Party.The next alleged scam was G Clubs, an exclusive private members club with a minimum $US10,000 buy-in.
“The government would like you to draw many negative inferences about a person who spends thousands on a TV or a mattress,” Shroff said, urging the jurors to put the indulgences in context.
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