Steve Bannon’s sometime partner Guo Wengui was arrested this morning on a sweeping indictment charging a $1 billion conspiracy, four sets of wire and security fraud charges each tied to a particularly business, as well as other money laundering charges. It will take (me at least) some time to understand the full scope of the alleged behavior. But for now, know that SDNY started seizing some of the proceeds of this fraud last year, and will now move to seize the yacht on which Bannon was arrested for his own fraud indictment, as well as some $36K mattresses Guo bought with the proceeds of his alleged fraud. Update: Dave Weigel reminds that Guo found $75,000 to support CPAC, in spite of his claimed bankruptcy.

Source: The Guardian March 17, 2023 03:59 UTC