Ex-chiefs sentenced to 10 years for $1 billion fraud scheme linked to Chinese tycoon - PRESS AI WORLD
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Ex-chiefs sentenced to 10 years for $1 billion fraud scheme linked to Chinese tycoon

share-iconTuesday, January 07 comment-icon3 weeks ago 17 views
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usatodayUSATODAY
Ex-chiefs sentenced to 10 years for $1 billion fraud scheme linked to Chinese tycoon

Credited from: USATODAY

  • Yvette Wang, a Chinese national, received a 10-year prison sentence for her involvement in a $1 billion fraud scheme.
  • As the 'chief of staff' to Miles Guo, Wang managed funds diverted from investors for extravagant purchases, including a mansion and luxury items.
  • Wang's fraud participation spanned from 2018 until March 2023, associated with fraudulent schemes such as the Rule of Law Foundation.
  • She was sentenced to an additional three years of supervised release and ordered to forfeit $1.4 billion.
  • Guo, convicted earlier, is awaiting sentencing, while co-conspirator Kin Ming Je remains at large.

Read more in the full article here.

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