STORY: Guo Wengui, an exiled Chinese businessman and vocal critic of Beijing, has been convicted in the U.S. of stealing hundreds of millions of dollars from online followers.
Jailed since March 2023, Guo's convictions ranged from racketeering conspiracy to wire fraud.
His seven-week trial ended Tuesday.
Federal prosecutors in Manhattan alleged Guo raised over $1 billion through fraudulent investment and cryptocurrency schemes from 2018 to 2023.
Guo reportedly told his followers some of the investment would go toward challenging China's government.
Prosecutors say Guo instead spent the money on luxury goods, including a New Jersey mansion, a red Lamborghini and a yacht.
His defense tried to portray Guo, a former real estate mogul, as an ardent dissident who flaunted his wealth as part of his critique of the Chinese Communist Party.
Guo is set to be sentenced in November, and could face decades in prison.
Guo attracted allies such as Steve Bannon, Donald Trump's onetime adviser during his presidency.
Bannon was arrested on Guo's yacht in 2020, in an unrelated fraud case, and was later pardoned by Trump.
