Exiled Chinese Billionaire With Ties To Greenwich Sentenced In Fraud Case: Report

GREENWICH, CT — Guo Wengui, a self-exiled Chinese billionaire with ties to Greenwich, was sentenced Monday to 30 years in federal prison after his conviction in a massive fraud scheme that a federal judge said defrauded more than 1,000 people out of hundreds of millions of dollars, according to the Associated Press.

A jury convicted Guo in 2024 on nine criminal counts following a seven-week trial. Prosecutors said he used his image as a critic of the Chinese Communist Party to persuade supporters to invest in businesses and cryptocurrency ventures, then diverted the money to fund a lavish lifestyle that included luxury homes, yachts and expensive purchases, the AP reported.

According to court filings, Guo owned a 12,000-square-foot mansion in Greenwich on Taconic Road, another mansion in New Jersey and a penthouse in Manhattan.

U.S. District Judge Analisa Torres imposed the sentence in Manhattan and also ordered Guo to forfeit $889 million, the AP reported. During sentencing, Torres said Guo "takes little responsibility for his actions," and that he "preyed" on people who sought to bring Democracy to China, according to the AP.

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