Guo Wengui (Guo Van Quy) – a Chinese real estate billionaire who defected to the US many years ago has been accused of defrauding investors of $ 1.4 billion.
According to many media outlets, Chinese tycoon living in exile in the US Guo Wengui was arrested in New York on the morning of March 15 (local time).
Ho wan kwok, a/k/a “miles guo,” arrested for orchestrating over $1 billion dollar fraud conspiracy
Over $630 Million of Alleged Fraud Proceeds Seized by US Governmenthttps://t.co/k1jciAU9Wn
— US Attorney SDNY (@SDNYnews) March 15, 2023
US authorities indicted him on 11 counts, including eight of wire fraud and securities fraud, two of international money laundering and one of illegal currency transactions. If constituting a crime, Quach Van Quy and his associates could be sentenced to up to 20 years in prison each.
A few hours after the arrest of Quach Van Quy, his penthouse, currently for sale for $32.5 million in Manhattan, caught fire, the force was promptly extinguished, and the Federal Bureau of Investigation (FBI) was clarify the case.
According to the indictment, Guo and his accomplices outlined three projects related to the GTV media company founded in April 2020 by Guo and Steve Bannon – a former White House strategist under President Donald Trump. , to mobilize investors to contribute capital. Mr. Bannon was arrested in 2020 on Guo’s yacht, although he was later pardoned by Mr. Trump, but was charged with the same crime and refused to plead guilty.
Since 2018, thousands of victims have been lured into investing in GTV, a loan program through the Himalaya Farm Alliance and the Himalaya Coin digital currency. According to statistics, Mr. Quach’s gang has earned no less than 1 billion dollars.
Instead of fulfilling his initial investment commitment, Mr. Quach used these funds to benefit GTV and his family, bought and repaired personal houses as well as splurged on luxury yachts, supercars and many other luxury items. . On March 15, the Ministry of Justice announced that it had seized more than 630 million USD in illicit money from 21 bank accounts and a Lamborghini supercar.
In addition to the charges of conspiracy, telephone fraud, securities fraud, money laundering and obstruction of public service, Quanh’s gang was also sued separately by the US Securities and Exchange Commission (SEC). odd.
But these are not the first legal troubles Guo has faced. In 2014, the former billionaire fled his hometown on charges of bribery, fraud and criticism of the ruling role of the Chinese Communist Party. After being wanted by the authorities, Mr. Quach applied for political asylum in the US in 2017.
Before coming to the US, Quach Van Quy was a real estate billionaire. He is the man behind Pangu Plaza, the dragon-shaped building near Beijing’s Olympic stadium. Last year, the billionaire declared bankruptcy, saying his net worth had dried up while still owed hundreds of millions of dollars from dozens of creditors.
Also yesterday, the US and European authorities shut down the ChipMixer mixer platform and wanted Vietnamese founder Nguyen Minh Quoc.