Key facts
- Chinese billionaire Guo Wengui was sentenced to 30 years in a U.S. prison.
- Guo Wengui orchestrated a massive financial fraud scheme.
- Thousands of investors were defrauded out of more than $1 billion.
- Guo Wengui was convicted of nine criminal charges.
- A federal judge ordered Guo Wengui to forfeit $889 million in restitution.
Exiled Chinese billionaire Guo Wengui has received a 30-year prison sentence in the United States for orchestrating a large-scale financial fraud. The scheme defrauded thousands of investors of over $1 billion. Guo was convicted on nine criminal charges. In addition to the prison term, a federal judge mandated that Guo forfeit $889 million as restitution to the victims of his fraud. Guo, who had courted U.S. conservatives and positioned himself as a critic of the Chinese Communist Party, was found guilty of defrauding thousands of people out of more than $1 billion.