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The Journal.

Yachts, Custom Cars and $36,000 Mattresses: Inside an Alleged Fraud

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 22 March 2023

⏱️ 17 minutes

🧾️ Download transcript

Summary

Former Chinese real-estate developer and outspoken China critic Guo Wengui was arrested by the FBI last week and accused of orchestrating a $1 billion fraud. WSJ’s Aruna Viswanatha unpacks Guo’s trek from Beijing gadfly to Steve Bannon confidant to fraud suspect. Further Reading: - A Chinese Businessman’s Trek From Beijing Gadfly to Steve Bannon Confidant to Fraud Suspect - China’s Pursuit of Fugitive Businessman Guo Wengui Kicks Off Manhattan Caper Worthy of Spy Thriller Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

For the past few years, our colleague Arunavishvanatha has been reporting on a man named Gwa Wing

0:11.0

Wei.

0:12.0

So, you know, as a reporter, you get all these crazy tips and almost every single one of

0:17.8

them by the time you reported out and confirm what actually happened.

0:21.9

The story is like, you know, 25% of what you thought it was.

0:27.0

And with Mr. Gwa, this is literally the only story I've ever worked on that the crazy

0:32.4

tips we got would end up 25% crazier in the final story.

0:37.7

It was just like everything about him.

0:40.4

It was just so wild.

0:44.4

Gwa is a Chinese billionaire who spent the past eight years living in the US.

0:49.5

He made a name for himself as a critic of the Chinese government and he's built up a

0:53.3

social media presence with hundreds of thousands of followers.

0:57.8

Rebel Rouser is exactly what he is.

1:00.2

He loves really salacious allegations against all sorts of people and you never quite know

1:08.4

exactly where he's going next.

1:11.4

Gwa has been a major thorn in the Chinese government's side.

1:14.4

And for years, they've been trying to get him back to China to face criminal prosecution

1:18.8

for a number of alleged crimes.

1:20.9

So he has been a bit of a singular figure in the US-China relationship, especially as

1:26.6

that relationship has deteriorated over the past few years.

1:29.9

He has been like a huge focus for the Chinese government and the US has long resisted handing

1:35.7

him back.

...

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