Chinese business tycoon convicted of defrauding followers in $1bn scheme

This is the best summary I could come up with:

Guo Wengui, a self-exiled Chinese business tycoon whose criticism of the Communist party won him legions of online followers and powerful friends in the American conservative movement, was convicted by a US jury on Tuesday of engaging in an enormous multi-year fraud that ripped off some of his most devoted fans.

Once believed to be among the richest people in China, Guo was arrested in New York in March 2023 and accused of operating a racketeering enterprise that stretched from 2018 through 2023.

Over a seven-week trial, he was accused of deceiving thousands of people who put money into bogus investments, with the aim of preserving a luxurious lifestyle.

Guo, who is also known by the name Miles Kwok, left China in 2014 during an anti-corruption crackdown that ensnared people close to him, including a top intelligence official.

He applied for political asylum in the US, moved to a luxury apartment overlooking Central Park and joined Donald Trump’s Mar-a-Lago club in Florida.

In a closing argument, assistant US attorney Ryan Finkel said Guo “spouted devious lies to trick his followers into giving him money”.

The original article contains 354 words, the summary contains 184 words. Saved 48%. I'm a bot and I'm open source!