- Self-exiled Chinese billionaire Guo Wengui has been sentenced to 30 years in a US federal prison for orchestrating a fraud scheme that swindled supporters out of over $1bn.
- Guo, who transformed himself into a prominent critic of China's Communist Party after fleeing the country, was found to have exploited his followers' trust by persuading them to invest in ventures under his control.
- Prosecutors stated that the funds, which investors believed were supporting Guo's political mission, were instead used to finance an extravagant lifestyle including luxury mansions, yachts, and sports cars.
- US federal judge Analisa Torres ordered Guo to forfeit $889m and pay restitution, noting that his scheme left more than 1,000 victims worldwide with devastating financial losses.
- Guo denied the allegations, claiming the funds were for his political activism and arguing that the charges were politically motivated as part of a campaign by the Chinese Communist Party against him.
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