Exiled Chinese businessman Miles Guo is currently on trial in New York, accused of scamming his followers out of over $1 billion after his property was seized by Chinese authorities. The trial, which began on Friday, revolves around the alleged fraudulent investment schemes Guo pitched to his online following.

Assistant U.S. Attorney Micah Fergenson informed jurors that Guo, a former real estate developer in China who later moved to New York, gained popularity through his online videos criticizing the Chinese government. However, after his assets were seized in China and Hong Kong, Guo began deceiving his followers by offering fraudulent investments.

Prosecutor Fergenson described Guo's actions as a large-scale con, stating that he lived a lavish lifestyle financed by the money he stole from the people he tricked and cheated. The jury, consisting of 12 individuals from Manhattan, will assess the allegations that Guo used his extensive online presence and hundreds of thousands of followers to collect funds that he later spent on himself and his family.

Guo, also known as Guo Wengui, Miles Kwok, and Ho Wan Kwok, has been in custody in Brooklyn since his arrest in March 2023. In her opening statement, Guo's attorney Sabrina Shroff argued that his businesses were legitimate and that his goal was to establish a movement against the Chinese Communist Party. Shroff further explained that Guo's actions, such as having multiple phones and bank accounts, were necessary precautions due to the Chinese government's continuous attempts to disrupt his work in the United States.

Shroff also urged the jurors not to judge Guo for the way he spent his amassed fortune from real estate ventures. Prosecutors claim that starting in 2018, Guo promoted various financial opportunities in Mandarin-language online videos, including investments in his media company, a cryptocurrency venture, a farm loan program, and exclusive club memberships with concierge services.

According to prosecutors, Guo misappropriated funds to purchase a luxury mansion in New Jersey, a yacht, several high-end cars, and even two expensive mattresses worth $36,000 each. Guo is now facing 12 charges, including fraud, racketeering, conspiracy, and money laundering. The trial, presided over by U.S. District Judge Analisa Torres, is expected to last until July.

Interestingly, Guo's $37 million yacht named the Lady May became significant in another fraud case when former White House strategist Steve Bannon was arrested onboard in 2020. Bannon was later pardoned by former President Donald Trump. Guo left China in 2014 during an anti-corruption crackdown led by President Xi Jinping, where he faced accusations of bribery, money laundering, and other crimes.

After seeking refuge in the United States, Guo purchased a luxurious residence in Manhattan's Fifth Avenue, attracting devoted followers through his criticisms of the Chinese government, particularly by accusing its leaders of corruption. In April 2017, Beijing requested Interpol to issue a "red notice" for Guo's arrest, which his defense attorney Shroff argued was a deliberate attempt to silence him following an interview with the U.S. government-backed Voice of America.

As the fraud trial proceeds, both the prosecution and the defense will present their arguments, and the jury will ultimately determine Guo's fate.