NEW YORK: Guo Wengui, an exiled Chinese businessman and outspoken opponent of Beijing’s communist government, was convicted on Tuesday ( Jul 16 ) in his US trial on charges of stealing hundreds of millions of dollars from online followers.
In a seven-week test, Guo was found guilty of nine of the 12 legal matters he faced, including wire fraud and criminal conspiracy.
He was face years in jail. Analisa Torres, a US city prosecutor, scheduled his punishment for November 19.
National prosecutors in Manhattan claimed Guo raised more than US$ 1 billion by a promise to followers on social media that they would not gain wealth if they joined him in a number of investment and cryptocurrency plans, some of which he claimed would help to challenge China’s state.  ,
The former real estate mogul is accused of spending the money on luxury items like a yacht, dark Lamborghini, and a palace in New Jersey.
” Hundreds of Guo’s virtual fans were victimised but that Guo may live a life of excess”, Damian Williams, the US Attorney in Manhattan, said in a speech after the ruling.
Guo’s defense attorneys portrayed him as an ardent dissident who criticized the Chinese Communist Party (CCP ) in his political commentary, saying that jurors should n’t decide quickly like prosecutors did.  ,
In his closing argument last week, defense lawyer Sidhardha Kamaraju said,” Mr. Guo did n’t care about the money.” ” He cared about the movement” . ,