Guo Wengui’s “Whole Movement a Scam,” Says Former Top Deputy

News | June 17, 2024 By:

On Thursday, June 6, 2024, Ya Li, a former top deputy in exiled Chinese billionaire Guo Wengui’s anti-Chinese Communist Party movement, testified in a Manhattan federal court that Guo’s business empire was an elaborate “scam” that defrauded his supporters of over $1 billion.

Li, who went by the name “Mulan” while working with Guo, said she helped him raise millions of dollars from investors through online “farms” that supported Guo. She told the court that much of the money raised through investments in Guo’s businesses like the video platform GTV and membership program G CLUBS ended up funding Guo’s lavish lifestyle rather than efforts to oppose the Chinese government as promised.

Prosecutors are accusing Guo, who is also known as Ho Wan Kwok and Miles Guo, of racketeering, money laundering, and wire fraud in relation to this supposed billion-dollar scheme. If convicted on all counts, Guo faces over 200 years in prison.

Guo’s attorney, Sabrina Shroff, recently stated that GTV Media Group and Guo’s other businesses like his cryptocurrency venture, loan program, and concierge service were real companies dedicated to furthering the goals of the anti-CCP movement. “It was not a bet, it was not a scheme, it was not a con,” she told jurors. “It was none of those things.”

Li testified under a non-prosecution agreement and said she felt “cheated” by Guo after believing in and fully supporting his cause for several years. She told the court she watched videos regularly where Guo rallied supporters using slogans like “comrades-in-arms” and that she “trusted Miles Guo 100%.”

However, Li said things changed after Guo filed for bankruptcy protection in 2022. As Guo’s business ventures and investments collapsed, Li said Guo tried to pressure her into signing a “false affidavit” related to the bankruptcy case by threatening her with a $38 million payment if proceedings did not go his way. She refused to lie to the court.

Li’s testimony aligned with previous witnesses who said they lost tens of thousands of dollars invested in Guo’s businesses and cryptocurrency projects. She told the court the money raised was supposed to be used to oppose the Chinese Communist Party but instead went towards Guo’s personal expenses like luxury cars, a 150-foot yacht, and a mansion in New Jersey that Guo claimed was a “secret base.”

Guo, who has partnered with former Trump White House advisor Steve Bannon, cultivated a large following in the U.S. through videos critical of the Chinese government. But Li said she now realizes the “whole movement is a scam” and that Guo was “misleading” investors the whole time.

The trial against Guo is ongoing. He has pleaded not guilty to all charges, and observers say the case has broader implications, as his supporters have shown up in protests outside the courthouse.

If convicted, Guo faces deportation to China, where authorities have also accused him of serious crimes such as rape and kidnapping. Li’s testimony provides a potential blow to Guo’s defense, as a former loyal deputy now testifies against him.