Guo Wengui appeals 30-year US fraud sentence

Exiled Chinese entrepreneur Guo Wengui has appealed his 30-year US prison sentence for defrauding thousands of people of more than $1 billion, court records made public on July 8 showed.

Guo challenged both his conviction and sentence in a July 2 filing. The brief petition did not state grounds for the appeal.

A jury found Guo guilty in July 2024 of fraud, securities offences, wire fraud and money laundering. He was ordered to forfeit $889 million in proceeds from the schemes, as well as interests in property including a mansion in New Jersey and luxury cars.

US authorities accused Guo, also known as Ho Wan Kwok and Miles Guo, of using his online profile from 2018 to persuade thousands of people to invest in companies or projects that promised returns or luxury services but allegedly mainly funded his lifestyle.

Guo made his fortune in real estate and moved to the United States in 2015. He had been targeted in China by an Interpol red notice for financial fraud, accusations he denied. The FBI arrested him in March 2023 at his Manhattan apartment.