Self-exiled tycoon convicted of racketeering, fraud and money laundering affecting over 1,000 people worldwide.
4:21 AM
A self-exiled Chinese billionaire once believed to be among China's wealthiest men was sentenced Monday to 30 years in a U.S. prison for a massive financial fraud affecting over 1,000 people worldwide, according to federal authorities.
Guo Wengui, who also goes by the names Miles Guo and Ho Wan Kwok, was sentenced in Manhattan federal court by Judge Analisa Torres. The judge said the fraud cost victims hundreds of millions of dollars globally.
Guo fled China a decade ago and reinvented himself as a U.S.-based Communist Party critic, building a loyal online following. He was convicted on charges of racketeering, fraud and money laundering.
During sentencing, Judge Torres said Guo had "preyed on those seeking to bring democracy to China," taking their money to fund his lavish lifestyle. The courtroom was packed with his supporters during the proceeding.
Before sentencing, Guo protested his treatment in jail, saying he was taken to the hospital early Monday. He disputed prosecutors' characterizations of his conduct.
U.S. Attorney Sean S Buckley commented on the case to the BBC, though his full statement was not completed in available reports.
Guo's representatives were contacted for comment by the BBC but had not responded at the time of reporting.
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