Self-Exiled Billionaire Chinese Business Tycoon Guo Wengui Sentenced to 30 Years in US Prison for Fraud Conviction

A self-exiled billionaire Chinese business tycoon once believed to be among China’s wealthiest men was sentenced Monday to 30 years in a U.S. prison for a massive financial fraud that a federal judge said cost over 1,000 people worldwide hundreds of millions of dollars.

Guo Wengui, who fled China a decade ago and reinvented himself as a U.S.-based Communist Party critic, was sentenced in a Manhattan courtroom packed with his supporters by Judge Analisa Torres. She said he “preyed on those seeking to bring Democracy to China,” taking their money so he could live lavishly.

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