Chinese business tycoon Guo Wengui was arrested on Wednesday and charged with defrauding thousands of followers out of more than $1 billion through complex investment schemes, U.S. prosecutors announced. Guo is charged with defrauding or misappropriating investor money using different schemes, including his media company GTV Media Group, a farm loan program through Himalaya Farm Alliance, and a cryptocurrency called Himalaya Coin.

Exiled Chinese business tycoon charged in U.S. in over $1 billion fraud

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Exiled Chinese business tycoon charged in U.S. in over $1 billion fraud