A U.S. federal court sentenced Guo Wengui, a former prominent Chinese real estate tycoon, to 30 years in prison after finding him guilty of fraud and money laundering involving more than one billion U.S. dollars, approximately 33 billion baht. He used the image of an activist opposing the Chinese Communist Party as a cover, diverting supporters’ funds to finance a lavish lifestyle, including purchasing mansions, yachts, and supercars.
Guo Wengui, once among China’s wealthiest billionaires, was sentenced by a U.S. federal court in New York to 30 years in prison after a unanimous jury verdict found him guilty on 9 of 12 charges. These charges included securities fraud, wire fraud, conspiracy to operate a criminal enterprise, and money laundering.
The former real estate tycoon, in his early fifties and known by several names such as "Miles Guo" and "Ho Wan Kwok," was arrested by FBI agents in March 2023 at his luxury Manhattan apartment overlooking Central Park.
During the sentencing, New York Judge Analisa Torres harshly criticized Guo’s conduct, stating he exploited the noble causes of charity and politics to "entice and profit from individuals seeking democratic reform in China." The court ordered the seizure of Guo’s assets worth $889 million, about 29.5 billion baht, noting that he used funds obtained from his followers’ faith to indulge and enrich himself.
Previously, Guo Wengui amassed wealth and influence in China as a major real estate developer and maintained good relations with senior Chinese government officials. However, in 2017, he fled China and sought asylum in the U.S. after being charged with corruption by Chinese authorities—charges he claimed were politically motivated persecution by the Chinese Communist Party.
After relocating to the U.S., Guo rebranded himself as a fierce critic of China’s communist regime, building a devoted online following among overseas Chinese communities in America.
Prosecutors stated that between 2018 and 2023, Guo leveraged his reputation as a political refugee to solicit online followers to invest in projects including digital currency schemes, raising over one billion U.S. dollars. However, these funds were not used for political causes as claimed but were redirected to support his extravagant lifestyle, including purchasing a 50,000-square-foot mansion, a $1 million Lamborghini supercar, and a $37 million luxury yacht.
Ryan Finkel, the lead prosecutor, told over 100 of Guo’s supporters attending the trial, "Guo Wengui is not a democracy activist. His true identity is that of a con artist, fraudster, and thief." Similarly, U.S. government attorney Sean S. Buckley remarked that today’s verdict clearly demonstrates that wealth and fame do not put anyone above the law.
Guo also had close ties with right-wing political groups in the U.S., notably Steve Bannon, former chief advisor to Donald Trump. The two frequently appeared together in online videos and in 2020 co-founded the political movement "New Federal State of China," aiming to overthrow the Chinese Communist Party. Bannon was later arrested aboard Guo’s private yacht on charges related to defrauding donors for a U.S.-Mexico border wall. He pled guilty in a Manhattan court in 2025 and was sentenced to three years probation without jail time.
Despite the conviction, Guo Wengui continues to assert his innocence, claiming all funds raised were properly used for political activities opposing the Chinese government. Meanwhile, Yvonne Wang, a close associate who co-founded the anti-Communist Party lobbying group with Guo, was previously sentenced to 10 years in prison last year for involvement in this global fraud network.