[Photo Credit: By Gage Skidmore from Surprise, AZ, United States of America - Steve Bannon & James Lindsay, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=127059423]

Chinese Billionaire and High Profile Ally of Steve Bannon, Guo Wengui, Arrested in Connection to Massive Alleged Fraud Scheme

Controversial Chinese Billionaire, known for being a key ally of former Trump advisor Steve Bannon, has now reportedly been arrested in connection with a massive alleged fraud scheme.

Guo Wengui, a controversial exiled Chinese billionaire businessman, was arrested in New York on Wednesday for orchestrating what federal prosecutors called a more than $1 billion fraud conspiracy that duped online followers.

As part of the investigation that is taking place in the federal court in Manhattan, the prosecutors have claimed that they have confiscated more than $650 million in suspected fraudulent earnings from 21 different bank accounts as well as a Lamborghini Aventador SVJ Roads vehicle.

Guo and Je are accused by the SEC of participating in illegal and fraudulent financial offers that were not registered.

Guo is charged separately by the SEC for making false statements in the process of soliciting hundreds of millions of dollars from investors using a digital asset known as “H-Coin.”

Bannon was taken into custody by federal officials in August 2020 off the coast of Connecticut when he was aboard a mega-yacht owned by Guo.

The allegations against Bannon were connected to the theft of funds from the “We Build the Wall” fundraising drive.

After many months, Trump later granted Bannon a pardon for the case.

This story is developing…

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