Guo Wengui, an exiled Chinese billionaire with business ties to Steve Bannon, has been arrested on federal charges out of New York.
Former White House Chief Strategist Steve Bannon, right greets fugitive Chinese billionaire Guo Wengui before introducing him at a news conference, Nov. 20, 2018, in New York.Guo Wengui, an exiled Chinese billionaire with business ties to Steve Bannon, faces federal fraud charges out of New York, as authorities investigate a fire that broke out at his apartment hours following his arrest on Wednesday.
Guo consented to detention, though the federal defender said his retained attorneys plan to propose a "robust bail package." He is next scheduled to appear in court on April 4. Guo, 54, pitched three unregistered securities offerings to investors as a means of obtaining shares in GTV and a fourth offering as a means to obtain a crypto asset security called "H-Coin" that he falsely claimed was backed by gold reserves, the SEC said.
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