Exiled Chinese billionaire's alleged accomplice pleads guilty in massive fraud conspiracy

[BumRushDaShow]

Source: NBC News

May 12, 2024, 7:44 PM EDT


Yvette Wang, accused of being an accomplice of exiled and indicted Chinese billionaire Guo Wengui, pleaded guilty in New York last week to defrauding many investors out of over $1 billion in "a complex scheme," prosecutors said.

Just a few weeks before her scheduled trial in New York federal court alongside Guo, who faces similar charges, Wang opted to plead guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.

Federal prosecutors arrested and charged Guo in New York last year, accusing her of orchestrating and leading a massive fraud conspiracy that duped thousands of his online followers out of more than $1 billion from 2018 to March 2023. The government said that Guo promised “outsized financial returns and other benefits” to his followers but that, instead, he used the fraudulently obtained money to support his opulent lifestyle.

“Yvette Wang played a leadership role in a broad and complex scheme to defraud thousands,” U.S. Attorney Damian Williams said in a statement.

Read more: https://www.nbcnews.com/news/us-news/yvette-wang-guo-wengui-chinese-billionaire-guilty-plea-rcna151894

[Princess Turandot]

1. I'd send Guo back to China in exchange for 6 pandas were it not for possible bad optics..

... He's been accused of all kinds of crimes there, including treason (I think). They might just shoot him in the head as soon as he gets off the plane.

Guo's Bannon's pal, of course. He funded one of the right wing social media entries, Gettr. He's supposed to be going to trial later this month in NY.

[wolfie001]

2. Great

Another crooked billionaire for The Fat Don to pardon. Please gawd, everyone VOTE!!!!