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Sunday, February 25, 2024

Feds seized $2.7 million of Chinese language billionaire’s cash from Trump-aligned social community

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Federal authorities seized practically $3 million from Gettr final September as a part of a sweeping billion-dollar fraud investigation right into a Chinese language billionaire.

On Wednesday, the Justice Division arrested Chinese language billionaire and dissident Guo Wengui, often known as Ho Wan Kwok and Miles Guo, for allegedly defrauding hundreds of individuals out of greater than $1 billion. Authorities mentioned that Guo carried out the large fraud by means of a fancy net of funding schemes that has now entangled Trump-aligned social community Gettr.

Guo, an exiled Chinese language dissident residing in Manhattan, is a outstanding Trump supporter and pal to Steve Bannon. A 2021 Each day Beast report revealed that Guo was an unique investor in Gettr, the place he touts practically 900,000 followers as of publication. Jason Miller, a longtime Trump adviser and former Gettr CEO, downplayed Guo’s function on the firm on the time. Within the indictment, prosecutors allege that Guo manipulated his on-line viewers into investing tens of millions into cryptocurrency and anti-CCP media scams. 

Guo’s indictment calls into query the extent of his affect over the conservative-friendly social community Gettr

Guo’s indictment calls into query the extent of his affect over the conservative-friendly social community Gettr. As a part of the Justice Division’s investigation, authorities seized a complete of $634 million from 21 completely different financial institution accounts final September. Round $2.7 million of that cash was held in a Gettr account, in accordance with the indictment. 

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Gettr didn’t instantly reply to a request for remark. 

Gettr launched in June 2021 as a “free speech” different to extra mainstream social networks like Fb and Twitter. The launch got here on the heels of Trump’s suspensions throughout main platforms following the lethal January sixth riot on the US Capitol. 

Miller stepped down from Gettr to hitch the former president’s 2024 campaign last month. A supply acquainted advised The Verge Wednesday {that a} majority of Gettr’s staff have been laid off by the tip of February. A number of of Guo’s Gettr livestreams have been additionally filmed within the firm’s New York workplaces, the supply mentioned.  

Guo, in the meantime, allegedly made tens of millions off his numerous schemes. “Kwok is charged with lining his pockets with the cash he stole, together with shopping for himself, and his shut family members, a 50,000 sq. foot mansion, a $3.5 million Ferrari, and even two $36,000 mattresses, and financing a $37 million luxurious yacht,” US Lawyer Damian Williams mentioned in an announcement Wednesday. 



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