Business tycoon Guo Wengui, accused of defrauding thousands of people, appears in court

we're gonna go into this story in a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of fire broke out at a Chinese billionaires penthouse just hours after his arrest. He is charged with fraud and money laundering. And as CBS two's Alicia Reid explains he was once an ally of former Trump advisor Steve Bannon. More recent Christine, the suspect was all smiles in court today, and he was charged with fraud and money laundering. Conspiracy and fraud charges for allegedly soliciting more than a billion dollars of investments from thousands of online victims. We're seeing these kinds of scams in the investment space growing and as we're seeing the economy worsened. Court documents say go lie to his victims, promising large returns on their investments into his two nonprofits.

Instead he's trying to help the economy grow. He's also trying to help the economy grow. He intepurchase a New Jersey mansion, luxury vehicles, including a Ferrari and a super yacht, among other things. It's really surprising to me, and it continues to surprise me how many people are willing to provide a lot of their money to the people like this man. Go left China in 2014 amid bribery and money laundering charges. He has been in the office for almost a year now. He's been in the office for almost a year now in 2020 to overthrow the Chinese government.

Mr Gal had created the profits and things that would allow people to align to his views, and then that gave them the sense of credibility that he was somebody that they trust hours after goes arrest inside his 18th floor penthouse at the Sherry Netherland Hotel in the West Bank. He's also been in the office for a year now, and he's also been executing a search warrant when the blaze erupted. Goes financier Ken Ming Jay resides in the UK and is also phasing charges. He's currently at large while go remains behind bars after pleading not guilty to his charges. His due back in court on April 4th on the Upper East Side, Alicia Reed CBS two news.

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