On 20 August 2020, the federal agents arrested Guo Wengui, age 51, in Westbrook, Connecticut, and jailed on fraud charges. The charges against Wengui have nothing to do with him, but it has brought his relationship with Steve Bannon, a former Trump political adviser. It also has enlightened a controversial figure with Wengui's history of legal entanglements.
The federal agents, along with the state authorities, investigated a media company linked to exiled Chinese businessman Guo Wengui and Steve Bannon. The FBI, the New York state attorney general, and the Securities and Exchange Commission officiated the investigation to know whether the securities laws were violated during the private offering.
Guo Wengui and Steve Bannon (©: NBC News)
The authorities went for the action after getting the reports of an unidentified victim at the Mercer Island Police Department in Washington. As per the news, the victim is one of the investors in GTV Media Group Inc., which promised to launch the video-sharing platform like YouTube, and it was supposed to go huge. The victim mentioned that he wired $500,000 to receive shares in the company by the end of May but never received the shares.
The Mercer Island Police Department identified the suspect as the exiled Chinese businessman, Guo Wengui, after which it contacted the FBI and local investigators.
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How Much Is The Net Worth Of Guo Wengui?
Guo Wengui, who is a Chinese fugitive, is well-known for his several business ventures. Back in 2015, he had a net worth of $1.1 Billion, being the 1638th billionaire of the world. Wengui started his career as a public servant in eastern China's Shandong Province and later carved himself into the thriving business world.
One of his highest-profile investments is the seven-star hotel complex in Beijing that overlooks the Olympic Stadium and Pangu Plaza. He also manages the business that controls the stakes of China's Founder Securities. In spring 2020, he, along with Steve Bannon, launched GTV Media Group Inc., a video-sharing platform. However, the company is under investigation for fraud charges, and both of the investors are already arrested.
As of 2020, Guo Wengui is worth more than a billionaire, but there are no records of his fortune in public.