(NewsReady.com) – Former White House Senior Strategist Steve Bannon is a very influential voice in the Republican Party. Long before he worked for former President Donald Trump, he had made a name for himself within the party, and that hasn’t changed. Throughout his career, he has met and done business with many people from across the world. One of those acquaintances is now stuck in jail.
On April 20, US District Judge Analisa Torres ruled that Guo Wengui, the Chinese billionaire also known as Ho Wan Kwok (and several other names), will remain in jail for now. He’d asked to be released on bond, but NBC News reported the judge denied his bail because there were “no condition or set of conditions” that ensured he would return to court. Torres pointed out that he had the “means and know-how to flee,” and even though authorities had confiscated multiple passports, she believed he had the resources to “figure out a way to leave the country without travel documents.”
The US Attorney for the Southern District of New York (SDNY) announced Guo’s arrest. He was charged with securities fraud, wire fraud, bank fraud, money laundering, and obstruction of justice.
According to prosecutors, Guo allegedly orchestrated multiple frauds and stole hundreds of millions of dollars from unsuspecting investors. He’s accused of using the money he reportedly obtained fraudulently to purchase a $4.4-million Bugatti, a 50,000-square-foot mansion, a $62,000 television, rugs worth almost $1 million, and a $37-million yacht.
Bannon was arrested by authorities on one of Guo’s yachts in 2020 when he was charged with various crimes over a campaign to build a wall on the Mexican border that never happened. Bannon was later pardoned by former President Donald Trump. There are no allegations thus far that the former presidential adviser was involved in or even knew about Guo’s alleged actions.
Guo is facing decades in prison if convicted.
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