Guo Wengui – also known as Miles Kwok – said to misuse funds to purchase $40 million, $3.5 million Ferrari
The U.S. Attorney’s Office in New York today charged exiled Chinese businessman Guo Wengui with defrauding thousands of followers out of more than $1 billion.
Guo – also known as “Miles 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.S. Attorney Damian Williams said in a statement Wednesday.
In one instance, Guo and his financial advisor allegedly diverted $100 million of investor funds raised by GTV Media Group to a company that is owned by Guo’s son, according to the U.
