May 3, 06:40 PM

Guo Wengui's Chief of Staff, Yvette Wang, Pleads Guilty to $1 Billion Fraud Scheme

Yvette Wang, the chief of staff to exiled Chinese businessman Guo Wengui, has pleaded guilty to conspiracy charges involving a massive fraud scheme. The charges, which include conspiracy to commit wire fraud and money laundering, relate to a scheme that defrauded thousands of investors out of over $1 billion. Wang, aged 45, has agreed to a restitution of $1.4 billion and faces a maximum prison term of 10 years. Her guilty plea comes weeks before a scheduled US fraud trial.

#Yvette Wang #Chinese #Guo Wengui #Wang #US

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