NEW YORK—U.S. prosecutors have arrested exiled Chinese businessman Guo Wengui, accusing him of orchestrating a scheme to defraud over $1 billion from his online followers.
Guo, also known as Miles Guo, faces an 11-count indictment charging him with wire fraud, securities fraud, bank fraud, and money laundering, according to a Justice Department statement.
U.S. authorities seized around $634 million in illicit funds from Guo’s 21 different bank accounts between September 2022 and March 2023, the statement said. The department said it seeks to forfeit the funds they believe constitute proceeds from his alleged fraud. A Lamborghini Aventador SVJ Roads that Guo allegedly acquired with proceeds of the scheme was also confiscated on Wednesday….