CNBC
The controversial exiled Chinese billionaire businessman Guo Wengui — an associate of former Trump White House advisor Steve Bannon — was arrested in New York on Wednesday for orchestrating what federal prosecutors called a more than $1 billion fraud conspiracy that duped online followers with promises of outsized investment returns.
Guo allegedly used some of the money raised through his company GTV Media and other entities to buy a 50,000-square foot mansion in New Jersey, a $37 million luxury yacht, a $3.5 million Ferrari for his son, a $140,000 Bosendorfer piano and two Hasten 2000T mattresses that cost a whopping $36,000 apiece.
Prosecutors said they seized more than $650 million in alleged fraud proceeds from 21 different bank accounts and assets that included a Lamborghini Aventador SVJ Roadster automobile as part of the case against Guo and his financial advisor William Je in Manhattan federal court.
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