A United States federal court has sentenced Chinese billionaire and political dissident Guo Wengui to 30 years in prison after he was found guilty of orchestrating a large-scale financial fraud that defrauded investors of hundreds of millions of dollars.
The sentence was handed down on Monday by Judge Analisa Torres in Manhattan. In addition to the prison term, Guo was ordered to forfeit approximately $889 million and pay restitution to victims.
Guo, also known as Miles Guo and Ho Wan Kwok, was convicted in 2024 on multiple charges, including fraud, securities offences, wire fraud and money laundering. He was arrested by the FBI in 2023 at his luxury apartment in Manhattan overlooking Central Park.
During sentencing, Judge Torres said Guo exploited people who supported his campaign against the Chinese Communist Party (CCP), using their investments to finance an extravagant lifestyle.
Although Guo addressed the court, he focused largely on his health and reiterated that his mission in the United States was to oppose the CCP, rather than acknowledging the criminal allegations against him.
The court also considered statements from several victims, many of whom described losing their life savings and suffering severe emotional and financial hardship. Some said the losses damaged their relationships with family members who had trusted their investment decisions.
Judge Torres criticised Guo for refusing to accept responsibility, noting that he continued to insist his actions caused no harm despite the significant losses suffered by investors.
One of the victims who testified during the trial told the court that the fraud had devastated both her life and that of her family.
Federal prosecutors had sought a prison sentence of at least 30 years, arguing that Guo’s fraudulent scheme, which operated between 2018 and 2023, caused widespread financial and emotional damage to hundreds of victims worldwide.
Guo’s legal team, however, argued that he had been the target of an extensive campaign by the Chinese government because of his outspoken criticism of the ruling Communist Party. They maintained that imposing a lengthy prison sentence would strengthen efforts to silence Chinese dissidents abroad.
Guo made his fortune in China’s real estate sector before relocating to the United States in 2015. While living in New York, he became known as a vocal opponent of the Chinese government and worked closely with American political strategist Steve Bannon to establish the New Federal State of China, an organisation critical of the Chinese Communist Party.
