"The fraud-convicted one-time billionaire sailed on a gleaming superyacht, wore custom-tailored Brioni suits, and strode through his Gilded Age mansion on a million-dollar cushion of Chinese and Persian carpets. Since 2022, the cash, homes, luxury cars, and private jets of Guo's suptuous former life have been picked over by prosecutors, the Securities and Exchange Commission, and a federal bankruptcy trustee - all trying to claw back money for thousands of creditors and victims in one of the most sprawling fraud cases in recent history."
"Federal prosecutors say Guo starred in Mandarin-language music videos and livestreams that enticed victims from around the world into investing $1.3 billion in his various anti-China and cryptocurrency schemes. Many of the videos show him in his 15-room Manhattan penthouse, gazing triumphantly at the city from either of two terraces overlooking Central Park. The 7,000-square-foot home occupies the entirety of the 18th floor of the Sherry-Netherland Hotel on Fifth Avenue, and is now being sold off as part of the bankruptcy."
Miles Guo, also known as Ho Wan Kwok and Guo Wengui, is imprisoned in a Brooklyn federal jail after a federal racketeering conspiracy conviction. Prosecutors, the SEC, and a bankruptcy trustee have spent three years liquidating his homes, cars, private jets, cash, and other assets to claw back funds for thousands of creditors and victims. Guo allegedly used Mandarin-language videos and livestreams to solicit approximately $1.3 billion for anti-China and cryptocurrency schemes. Among the assets being sold are his 7,000-square-foot Sherry-Netherland penthouse overlooking Central Park, listed for $12 million despite a 2015 purchase price of $67.5 million.
Read at Business Insider
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