From Fugitive Billionaire to Alleged Fraudster: The Bizarre Saga of Guo Wengui
Guo Wengui, also known as Miles Guo, has been making headlines in recent years for his controversial business partnerships and alleged involvement in felony fraud. Once a Chinese billionaire, Guo fled China in 2014 to escape corruption allegations and has since settled in New York, where he has become a vocal critic of the Chinese regime on social media.
Guo’s influence in the United States is largely due to his alliance with Steve Bannon, the former top Trump aide turned vocal advocate of former President Donald Trump’s false claims of election fraud. Together, they created the New Federal State of China, which claims to be the government in exile of mainland China. Guo also helped fund Gettr, a right-wing Twitter alternative led by Jason Miller, a top 2016 campaign Trump aide who has since joined his 2024 reelection effort.
However, Guo has become a divisive figure in the community of exiled Chinese dissidents. He has claimed that many other dissidents living in the United States are actually secret agents of the Chinese Communist Party (CCP) and has organized pickets to protest outside of their houses. This has led to suggestions that Guo is actually an agent of the CCP, something which he has vociferously denied.
Guo was recently arrested by the FBI on 12 counts of felony fraud in New York, which marks another remarkable chapter in his bizarre saga. He is alleged to have participated in an elaborate effort to defraud his online supporters in his campaign against the Chinese government of over $1 billion. He allegedly did this through falsely soliciting them to invest in his businesses and then misappropriating the funds for personal use. Among his alleged fraudulent schemes were soliciting $262 million in investments in a cryptocurrency “ecosystem” called the Himalaya Exchange, as well as a private club membership program called G|CLUBS, which attracted over $250 million in investment and purported to be “an exclusive, high-end membership program offering a full spectrum of services.”
The indictment alleges that Guo has used the money to buy a mansion, Ferrari and Bugatti sports cars, and two $36,000 mattresses in addition to using money for upkeep on his yacht, which is worth $37 million. Federal law enforcement has already seized over $634 million in fraud proceeds from Guo over the past six months.
Guo’s arrest represents a major setback for the Bannon-linked MAGA right, with one of Bannon’s key funders facing criminal indictment and having over half a billion in assets seized by the federal government. While Bannon has always been aware of Guo’s controversial reputation, he has praised him for his work in raising awareness about the CCP’s criminal activities. Bannon has become a major player in right-wing media through his War Room program, a daily livestream where he promotes his populist Trumpist vision of the world.
Guo Wengui’s arrest has brought the spotlight back onto his alleged fraudulent activities and his controversial reputation as a Chinese dissident living in the United States. It remains to be seen what the future holds for him and his business partnerships with top Trump allies.