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Chinese billionaire Guo Wengui sentenced to 30 years for US crypto fraud

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Chinese businessman Guo Wengui, a former member of Donald Trump's Mar-a-Lago club, has been sentenced to 30 years in prison by a US court. Prosecutors found that he ran a large-scale cryptocurrency and investment fraud scheme worth over a billion dollars. Guo allegedly exploited followers of his anti-CCP movement, deceiving them into investments that funded his extravagant personal lifestyle. The court also ordered him to forfeit nearly $889 million in ill-gotten gains. Guo has denied any wrongdoing and intends to challenge the verdict through an appeal.

Read the full story at Times of India

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Chinese billionaire Guo Wengui sentenced to 30 years for US crypto fraud · ShortSingh