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DARK SECRETS: Us arrests chinese billionaire on fraud rap | Rare Historical Photos

Guo Wengui Donald Trump Steve Bannon United States New York Xi Jinping Beijing China GTV Justice Department

Former White House chief strategist Steve Bannon was a close associate of Chinese tycoon Guo Wengui, who was arrested by US authorities on charges of massive fraud. (Photo: AFP)

NEW YORK: A Chinese tycoon closely tied to an adviser to former US president Donald Trump has been arrested in New York and charged with bilking $1 billion from supporters of his anti-Beijing activities.

The US Justice Department accused Guo Wengui and still-at-large British co-conspirator Je Kin Ming of stealing funds from participants in an investment scheme so they could buy luxuries, including a yacht, a 4,645-square-metre mansion and a $3.5-million Ferrari.

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