The government submitted a letter in advance of a bail hearing Tuesday for Guo Wengui, saying he has access to tens of millions of dollars to help him flee the United States despite claims that he is unemployed, in bankruptcy proceedings, and nearly broke.
The letter argued he's a threat - and at risk to continue a pattern of frauds that have escalated despite intervention by the Securities and Exchange Commission, closing of his financial accounts, receipt of grand jury subpoenas by entities affiliated with him, contempt rulings by judges and the seizure of $630 million.
The lawyers said Guo would not flee, in part because if he left the United States, Chinese authorities would make sure he faced "intolerable risks to his life." They said strict bail conditions could ensure he was no harm to others. Interviewed by court employees after his arrest, Guo said he'd been unemployed since 2016 and only had $10,000 in assets that were not liquid cash, prosecutors said. He denied owning property or vehicles.
Prosecutors rejected claims by the defense that Guo is unlikely to flee because he has not left the U.S. in five years, saying his 2017 asylum application precluded travel. They said that he has spent over four of those years using the U.S. "as the staging ground to run a billion-dollar fraud enterprise."
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