The exiled Chinese language billionaire Guo Wengui, who was charged by U.S. prosecutors in a $1 billion fraud conspiracy, will go to trial in April.
U.S. District Decide Analisa Torres set the trial date at a listening to Tuesday in New York Metropolis. She additionally granted Guo’s request for entry to a government-provided laptop to evaluate proof.
Federal authorities arrested Guo in March on that he defrauded hundreds of on-line followers out of over $1 billion. He promised his followers “outsized monetary returns” however as a substitute used the cash to fund his lavish life-style, based on prosecutors, who mentioned the scheme befell from 2018 till March.
Prosecutors mentioned the U.S. authorities seized $634 million in alleged fraud proceeds from 21 financial institution accounts. Regulation enforcement seized belongings bought with the earnings of the alleged fraud, together with a Lamborghini Aventador SVJ Roads, prosecutors mentioned.
Guo, 52, has lived within the U.S. since round 2015 and has amassed a “substantial on-line following,” prosecutors mentioned.
He’s additionally a enterprise affiliate of Trump White Home adviser Steve Bannon, who was arrested on his yacht in a fraud case in August 2020. President Donald Trump pardoned Bannon in 2021.
Guo, charged in courtroom papers as Ho Wan Kwok and who additionally goes by Miles Guo and Miles Kwok, has pleaded not responsible to 11 counts, together with wire fraud, securities fraud, financial institution fraud and cash laundering.
Guo’s lawyer, Stephen Cook dinner, didn’t instantly reply to a request for remark Wednesday.
Guo has remained in jail since he was arrested. Hoping to acquire bail, Cook dinner mentioned in a courtroom submitting that Guo would stay within the nation if he was launched, as a result of “the chance to his life is just too nice for him to depart.”
Cook dinner claimed in courtroom paperwork that Guo will not be a flight threat as a result of his spouse of 38 years and daughter dwell within the U.S.
In April, Torres rejected Guo’s proposed $25 million bail bundle, saying he should stay in jail pending trial as a result of he “has means and know-how to flee,” courtroom paperwork present.
Although legislation enforcement officers confiscated Guo’s two passports and copies of one other passport, Torres mentioned a “intelligent defendant with ample assets might determine a strategy to depart the nation with out journey paperwork.”
She mentioned Guo’s proposed bail bundle was “inadequate,” including that he filed for chapter safety and claimed to have solely $10,000 in belongings. Torres mentioned Guo didn’t establish a co-signer for his bond who had ample means and ties to the U.S.
Guo appealed the choose’s order final month.
