US attorney says Kwok, known to many as Miles Guo, used stolen money to buy a $3.5m Ferrari and finance a $37m luxury yacht
Guo left China in 2014 during an anti-corruption crackdown led by the president, Xi Jinping.
Guo claimed that allegations against him in China were launched in retaliation for his efforts to expose graft. “In or about 2018, Kwok founded two purported nonprofit organizations, namely, the Rule of Law Foundation and the Rule of Law Society. Kwok used the nonprofit organisations to amass followers who were aligned with his purported policy objectives in China and who were also inclined to believe Kwok’s statements regarding investment and money-making opportunities.”
Williams said: “Kwok is further charged with laundering hundreds of millions of stolen funds to conceal the conspiracy’s illegal activities and continue the fraud’s operations.”
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