Foreign News

Chinese tycoon sentenced to 30 years in US jail

Published

2 months ago

2026/06/30

Priyan

Chinese businessman Guo Wengui, or Miles Guo, in 2018 (BBC)

Guo Wengui, who was once believed to be one of China’s richest businessmen, has been sentenced to 30 years in jail in the US for running a billion dollar scam.

The former property tycoon fled China to the US in 2017, where he reinvented himself as a Communist Party critic and built a loyal online following.

But Guo was later convicted on charges of racketeering, fraud and money laundering.

New York court judge Analisa Torres said Guo had “preyed on those seeking to bring democracy to China”, taking their money to fund his lavish lifestyle.

The BBC has contacted Guo’s representatives for comment.

Guo – who goes by several names, including Miles Guo and Ho Wan Kwok – was sentenced in a courtroom packed with his supporters.

US attorney Sean S Buckley told the BBC: “Rather than being satisfied with the many legitimate opportunities afforded to him, Guo exploited the trust that thousands had placed in him for his own greed.”

“Today’s sentence shows that fame and wealth do not place you above the law, and that fraudsters who victimise families to enrich themselves will be met with significant consequences,” Buckley said.

Before fleeing China, Guo built a fortune as a property developer and had good ties with the country’s government.

But he sought asylum in the US after being accused by top Chinese officials of corruption.

Guo became a critic of China’s Communist regime and cultivated a wide online following among the Chinese community in the US.

Prosecutors said Guo raised more than $1bn (£760m) from online followers, who joined him in investment and cryptocurrency schemes between 2018 and 2023.

The money he raised was used to fund Guo’s lavish lifestyle which included a 50,000 square foot mansion, a $1m Lamborghini and a $37m yacht, they said.

Guo denied the allegations, saying the funds were used for his political activism.

He had built ties with other China critics, including Steve Bannon, a former adviser to US President Donald Trump.

Bannon and Guo often appeared in online videos and, in 2020, launched a campaign called the New Federal State of China, with the goal of overthrowing the Chinese Communist Party.

Later that year, Bannon was arrested on Guo’s yacht in Connecticut. Bannon was charged in an unrelated case with fraud in an alleged scheme to defraud people who funded a not-for-profit company to build a US-Mexico border wall.

Bannon entered a guilty plea in a Manhattan court to a first degree scheme to defraud charge and received a sentence of conditional discharge for three years.

He also faced federal charges over the wall campaign after he was indicted by a federal grand jury, but the prosecution came to a halt after Trump pardoned him 8n the final hours of his first White House term.

(BBC)

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Foreign News

Head teacher evacuated 900 children minutes before school washed away by Nepal floods

Published

1 day ago

2026/08/30

Priyan

A head teacher’s quick decision to evacuate his school saved 900 pupils from deadly flash floods along the Nepal-Tibet border

Rajendra Dawadi tells the BBC he was tipped off about incoming flood waters and moved students to higher ground with just minutes to spare. One pupil says she and her friends survived by just 10 seconds and watched as a nearby bazaar was swept away

Wednesday’s disaster has killed at least 794 people and more than 2,500 people are missing in Nepal, local officials say

In Tibet, the official death toll is 16, with 546 reported to be missing, according to Chinese state media –

[BBC]

Foreign News

Ferry carrying 260 people capsizes off northern Cyprus coast

Published

1 day ago

2026/08/30

Priyan

A ferry carrying around 260 people has capsized off the coast of northern Cyprus with a search underway for survivors, according to local media.

The catamaran-style boat was travelling from the port of Kyrenia, also known as Girne, and started sinking a few kilometres off the coast of the island state on Sunday.

There were no immediate reports of casualties.

[Aljazeera]

Foreign News

Ex-White House teleprompter operator ordered to pay $172,000 for Trump speech bets

Published

3 days ago

2026/08/29

Priyan

The staffer was found to have made tens of thousands of dollars through betting on what the president would say in his speeches (BBC)

A former White House teleprompter operator has been ordered to pay more than $172,000 (£127,000) for using inside information to bet on US President Donald Trump’s speeches.

Gabriel Perez was found to have made trades on what the president would say during addresses between December 2025 and February 2026 on Kalshi – a prediction markets platform where users can bet on real-world events.

Its regulator, the Commodity Futures Trading Commission (CFTC), said Perez would have to surrender profits of $107,539.02 (£79,452) and pay a civil penalty of $65,000 (£48,000).

The White House has not yet commented. In July then press secretary Karoline Leavitt said Perez was on unpaid leave and would not return to his post.

Announcing the settlement on Friday, the CFTC said Perez had “misappropriated” his prior knowledge of Trump’s speeches to place bets “in breach of his duty of trust and confidence”.

It said his civil penalty had been reduced due to his “exemplary co-operation” with the investigation.

Perez has also been banned from trading for three years.

Writing on X, Kalshi’s lead lawyer Bobby DeNault welcomed the decision: “It doesn’t matter who you are: violate our rules or federal law and you will face the consequences.”

(BBC)