Chinese Businessman With Ties to Steve Bannon Arrested, Charged With Fraud, Including $500M Crypto Scam

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Chinese Businessman With Ties to Steve Bannon Arrested, Charged With Fraud, Including $500M Crypto Scam
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Chinese businessman Guo Wengui – a former billionaire business partner to ex-Trump adviser Steve Bannon – has been arrested in New York and charged with a series of fraudulent schemes, including a $500 million crypto scam. cheyenneligon reports

Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Exiled Chinese businessman Guo Wengui was arrested in New York on Wednesday morning and charged with fraud for allegedly orchestrating a series of fraudulent schemes that bilked retail investors out of a collective $1.4 billion.

raised $500 million from retail investors – was an unrelated crypto venture called H-Coin, or Himalaya Coin. Beginning in October 2021, Guo founded and promoted H-Coin, telling his social media followers that the currency was 20% backed by gold and promising to cover “100% of investment losses attributable to H-Coin.”

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