NEW YORK, May 22 — Jury selection begins today in the criminal trial of exiled Chinese businessman Guo Wengui, who US prosecutors have accused of defrauding thousands of investors and supporters out of more than US$1 billion.It is expected to touch on sensitive areas, with prosecutors seeking to keep Guo, a fierce critic of China’s Communist Party, from eliciting classified information during witness testimony.
It was on Guo’s US$37 million yacht, the Lady May, where Bannon was arrested in 2020 in a separate fraud case. That case ended when Trump pardoned Bannon in the waning hours of his presidency. Bannon had pleaded not guilty.Prosecutors accused Guo and his accomplices of taking advantage of his prolific online presence and hundreds of thousands of followers to cheat investors in a media company, a cryptocurrency ventures and two other fraud schemes.
Their case against Guo may have been strengthened when his former chief of staff Yvette Wang pleaded guilty on May 3 to conspiring to commit both wire fraud and money laundering. Her sentencing is scheduled for Sept. 10.Guo left China in 2014 during an anti-corruption crackdown under President Xi Jinping. Officials there accused Guo of bribery, money laundering and other crimes, which he has denied.
Source: Law Daily Report (lawdailyreport.net)
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