Chinese Tycoon Guo Wengui Gets 30 Years

A US federal court sentenced exiled Chinese billionaire Guo Wengui to 30 years in prison for orchestrating a fraud that cost more than 1,000 victims over $1 billion.

Guo was convicted on nine charges including money laundering and cryptocurrency fraud.

Once a Beijing insider and property tycoon, Guo reinvented himself as a prominent dissident who vowed to 'destroy' China's Communist Party.

His dramatic downfall marks one of the largest fraud cases prosecuted in the United States involving a Chinese exile.