Watch Business Tycoon Guo Wengui, Accused of Defrauding Thousands, Appears in Court News Video

29 sec read

“Chinese billionaire Guo Wengui, the exiled businessman and vocal critic of Beijing with ties to former Donald Trump adviser Steve Bannon, was charged with fraud after the US seized $634 million linked to his alleged crimes.

“Arrested Wednesday at 6:24 a.m. by FBI agents at his luxury apartment in Manhattan’s Sherry-Netherland hotel, Guo was later brought before a judge over the alleged billion-dollar fraud.

“But first, in a strange turn of events, a two-alarm fire broke out on the hotel’s 18th floor, where Guo — also known as Miles Kwok — lives. The New York Fire Department is investigating the blaze.

“And now Guo will spend the night in jail, after pleading not guilty and consenting to detention. He will stay there if a judge doesn’t grant his planned application for release on bail.”

Read more at Fortune

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