NEW YORK >> An exiled Chinese businessman spent hundreds of millions of dollars he raised from online followers for sham investments on luxury goods including a red Lamborghini and a yacht, a U.S. prosecutor said today. In his closing argument at Guo Wengui’s trial on racketeering and fraud charges, prosecutor Ryan Finkel said Guo repeatedly guaranteed followers in social media broadcasts that they would not lose money if they invested in a series of schemes he carried out from 2018 to 2023.
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