by Matt Palumbo ~ The Billings Report
A new document from the U.S. government in their case against New Federal State of China founder Guo Wengui (also known as Miles Guo and Miles Kwok) unintentionally blows massive holes in their own case that Guo’s wealth was the result of fraud.
Southern District of New York (SDNY) prosecutors allege that Guo has stolen over $1 billion, which they claim is from the following sources: $452 million raised from sales of GTV stock, $150 million was through “Himalaya Farm Alliance,” $250 million from “GClubs,” and $262 million from Himalaya Exchange, for a total of $1.14 billion.
The SDNY has a clear bias against Guo, and has fought to deny him bail after easily letting out the disgraced FTX founder Sam Bankman-Fried earlier this year. As a result, Guo has remained behind bars since his arrest on March 15th.
Yet, the documents on the seizure of Guo’s assets show that all the money is accounted for. And if all the money is there – how was there a fraud? While Guo has undoubtedly lived a luxurious life, this further proves that’s owed to his successful business career.
According to this recent court ruling, a total of $633,661,126 in cash was seized from bank accounts is listed in the filing (technically $719,561,015 in seized funds are listed – however one account appears to be incorrectly listed twice because the government is too incompetent to proofread their legal filings). They also seized his home in Mahwah, which was bought for $26 million.
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