Wealthy self-exiled Chinese businessman goes on trial in alleged $1 billion fraud scheme

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A wealthy Chinese businessman who left his homeland and became a U.S.-based outspoken critic of China's Communist Party has gone on trial in New York on charges that he defrauded people worldwide of over $1 billion

A wealthy Chinese businessman who left China a decade ago and became a U.S.-based outspoken critic of his homeland's Communist Party went on trial in New York on Wednesday for what prosecutors say were multiple frauds that cheated hundreds of thousands of people worldwide of over $1 billion. Guo Wengui, 57, once believed to be among the richest people in China, sat with his lawyers in Manhattan federal court as jury selection began for a trial projected to last seven weeks.

When Torres ruled last month that the jury would be partially anonymous, she noted that she had already concluded that Guo had demonstrated a willingness to tamper with judicial proceedings by posting videos and releasing social media encouraging followers to “persevere” with protests at homes and offices of a bankruptcy trustee and his lawyer.

Source: Law Daily Report (lawdailyreport.net)

 

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