The trial for exiled Chinese businessman Guo Wengui, who faces charges of defrauding over $1 billion, will commence on April 8, 2024, in the United States. U.S.
District Judge Analisa Torres announced the hearing date on Tuesday, to be held in federal court in Manhattan.
Guo is a prominent critic of the Chinese Communist Party and has connections with Steve Bannon, a former advisor to ex-President Donald Trump. Since his arrest in March, Guo has been in custody, accused of deceiving thousands of followers by promising unrealistic investment returns and using their funds to support a luxurious lifestyle for himself and his family.
Under various names including Ho Wan Kwok and Miles Kwok, Guo has pleaded not guilty to 11 charges, including securities fraud, wire fraud, and money laundering concealment. In a crowded courtroom, Guo, handcuffed, made eye contact with many in the audience and offered a prayerful gesture, prompting waves from over a dozen attendees.
Prosecutor Ryan Finkel estimated that the government's case could span four weeks, while Guo's attorney, Stephen Cook, stated that the defense case would require two to three weeks. Judge Torres granted Guo's request for a laptop to review evidence while being held at the Metropolitan Detention Center in Brooklyn.
Guo is currently seeking to persuade Torres to reject his proposed $25 million bail package. Having left China in 2014 during President Xi Jinping's anti-corruption campaign, Guo has faced accusations of crimes, including bribery and money laundering, by Chinese authorities, which he vehemently denies.
It is worth noting that Steve Bannon was arrested in 2020 as part of a fraud case while on Guo's yacht, but he was later pardoned by President Trump. Photo by 美国之音东方拍摄, Wikimedia commons.