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From Crypto Fundraising to Prison: Exiled Chinese Tycoon Jailed 30 Years over $1B Fraud
A US federal court has sentenced Chinese businessman Guo Wengui to 30 years in prison after finding him guilty of running a large-scale fraud scheme that raised more than $1 billion from followers, the BBC reported. The case drew attention due to Guo’s political profile and his claims of opposing China’s government while soliciting funds from supporters. A New York jury convicted Guo on charges that included racketeering, fraud, and money laundering. Judge Analisa Torres said Guo exploited individuals who believed in his political message. She stated that he used their trust to fund his personal expenses. US ... (full story)
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