The fire at the Sherry-Netherland Hotel on 5th Avenue was put out within hours, but the investigation is ongoing into how it happened to start after Guo Wengui…
The fire at the posh Upper East Side building was put out within hours, but the investigation is ongoing into how it happened to start after Guo left in handcuffs — and just as FBI agents were seizing his electronics and financial recordsA fire broke out inside a penthouse on Manhattan's Upper East Side as FBI agents were conducting a search of the home following the arrest of the billionaire Chinese businessman who lives there.
Guo is accused of pulling off a $1 billion fraud, ripping off thousands of investors in a scheme that allegedly started in 2018 and lasted into 2023. The FBI arrested Guo at the ritzy hotel Wednesday morning, alleging he set upSign up for NBC New York newsletters. Prosecutors seized more than $650 million in alleged fraud proceeds from 21 different bank accounts and assets that included a Lamborghini Aventador SVJ Roadster automobile as part of the case against Guo and his financial advisor William Je in against Guo and the 56-year-old Je, a resident of the United Kingdom and Hong Kong who remains at large. The SEC accuses Guo and Je of involvement in unregistered and fraudulent financial offerings.
In 2018, he founded two nonprofit organizations, the Rule of Law Foundation and the Rule of Law Society, which engaged in a public relations campaign against the Chinese Communist Party. A fire broke out at the 18th floor apartment in the famed Sherry-Netherland Hotel on Fifth Avenue as the FBI agents searched the penthouse hours after the arrest of Guo Wengui, who was accused of pulling off a billion-dollar fraud and ripping off thousands of investors. NBC New York's Jonathan Dienst reports.
Gurbir Grewal, director of the SEC's enforcement division, called Guo"a serial fraudster, who raised more than $850 million by promising investors outsized returns on purported crypto, technology and luxury good investment opportunities."
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