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Guo Wengui, an exiled Chinese billionaire with business ties to Steve Bannon, has been arrested on federal charges out of New York.
Wengui owned the 152-foot-long yacht Lady May on which Bannon was arrested in August 2020.
Guo and Bannon have been under investigation in connection with GTV Media Group, which the Securities and Exchange Commission previously accused of violating securities laws.
The FBI arrested Guo, also known as Ho Wan Kwok, Wednesday morning in New York on charges he orchestrated a $1 billion fraud.
« Kwok is charged with lining his pockets with the money he stole, including buying himself, and his close relatives, a 50,000 square foot mansion, a $3.5 million Ferrari and even two $36,000 mattresses, and financing a $37 million luxury yacht, » U.
