FBI Cracks Down on International Online Scam Ring: Exiled Chinese Businessman and Financier at the Center of Investigation
FBI Cracks Down on Internati...
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FBI Cracks Down on International Online Scam Ring: Exiled Chinese Businessman and Financier at the Center of Investigation

17 March 2023
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2 min.
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FBI Cracks Down on International Online Scam Ring: Exiled Chinese Businessman and Financier at the Center of Investigation

A $1 billion online scam

Ho Wan Kwok, also known as "Guo Wengui," "Brother Seven," and "The Principal," gained a massive following through his YouTube videos, where he criticized the Chinese government, and formed the GTV Media Group with Steve Bannon. However, the DOJ accuses him and his financier, Kin Ming Je, of orchestrating a fraud conspiracy that defrauded their victims.

In addition to the allegations of fraud, Ho Wan Kwok has gained notoriety for his opulent lifestyle, which includes a 15-room penthouse in New York City that he purchased for $67.5 million. He showcased his lavish lifestyle in a VICE News video, and The New Yorker reported that he received a personal recommendation from former British Prime Minister Tony Blair, who described him as "honest, forthright, and has impeccable taste." Despite this, Ho recently filed for Chapter 11 bankruptcy and was ordered to pay $134 million for attempting to evade debt collection.

The FBI is currently urging anyone who believes they may have been a victim of Je's and Ho's fraudulent schemes to come forward and fill out a questionnaire. This case highlights the importance of conducting due diligence when considering investing in any venture, as the consequences of fraudulent activities can be severe.

In conclusion, the charges against Ho Wan Kwok and Kin Ming Je are a reminder of the importance of vigilance when investing in any venture. The FBI is actively investigating this case and encourages potential victims to come forward. While the lavish lifestyle of these individuals may have initially attracted investors, it is important to conduct thorough due diligence to avoid becoming a victim of fraud. Let this case serve as a cautionary tale to always proceed with caution and carefully consider any investment opportunities.

Persons2 and Companies5 in the news

British former politician
1 place
Chinese billionaire businessman
2 place
GTV Media Group
2 place
YouTube
5 place
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