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Chinese Billionaire Gave $850k To Bannon As Fraud Trial Looms

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Chinese billionaire Miles Guo, who moved to the United States in 2015 from China after one of his politically connected allies was arrested, is currently in a federal court enduring a bankruptcy trial.

In March of 2023, Guo was arrested after being indicted by the Department of Justice for allegedly stealing over $1 Billion in a fraud conspiracy. Guo was indicted on 11 counts, including securities fraud, wire fraud and concealing money laundering. Guo has also been ordered to pay $134 Million in contempt of court fines.

The charges allege that Guo siphoned over $1 Billion out of phony anti-communist fundraising efforts.

Within that trial, documents have been revealed that show Guo, who is known as a Chinese defector, gave Steve Bannon’s War Room host Steve Bannon $850,000 shortly before declaring for bankruptcy.

The court-appointed trustee in Guo’s bankruptcy case is attempting to recover money that the court believes was allegedly transferred as an apparent scheme to defraud Guo’s creditors. The trustee is also attempting to recover $300,000 that was given to the NGO’s the Rule of Law Foundation and its sister organization, the Rule of Law Society, founded by Bannon and Bill Gertz in 2018. Gertz was fired from the Washington Free Beacon after it was revealed that he accepted a $100,000 loan from Miles Guo.

The Department of Justice has identified both of those groups as part of a ‘criminal conspiracy’ including the social media platform Gettr in the indictment against Guo, alleging that he used the organizations to hide stolen funds.

Steve Bannon, one of the most prominent figures in right-wing media, has his show funded by a billionaire who allegedly made his money stealing from donors to anti-communist causes, highlighting a great hypocrisy an trouble to come for the former Trump advisor.

Bannon is also facing a fraud trial of his own, in which the State of New York alleges that he defrauded donors to a ‘We Build the Wall’ charity of over $15 Million. Prosecutors have already rebutted an attempt by Bannon to dismiss the charges.

Strangely, in a time where the Justice system seems to move at a tremendous pace to advance legal cases of the former President and his allies, Bannon has had his trial for the ‘We Build the Wall’ scheme delayed from Novemeber of 2023, to May of 2024.

‘We Build The Wall,’ a charity set up by Brian Kolfage and Steve Bannon, promised donors that they could build a Southern Border wall on their own simply by donating to their charity. Needless to say, that claim was 100% false, and none of the money ever went towards building any kind of wall.

The co-founder of that the charity in question, Brian Kolfage, has already been sentenced to 51 months in prison for his role in the charity scheme, leading many to speculate that Bannon may be facing prison time himself when his trial arrives in May.

A recent piece published in the Guardian, which promotes the influence of Bannon in an almost cartoonish fashion, fails to mention this pending fraud trial, or Bannon’s connection to Chinese billionaire Miles Guo.

As that trial approaches, Bannon has made several statements that could be considered scathing rebukes of his former boss, President Donald Trump. Bannon has routinely insinuated that Trump is ‘bought off’ by billionaire Jeffery Yass for opposing the recent TikTok ban bill, which passed the House with bipartisan congressional support.

Trump opposed the bill, which allows for the President of the United States to block web hosting for any platform with over 1 million unique site visitors per month that he deems to be a threat to national security, along with several prominent Congressional Republicans, including Andy Biggs, and Marjorie Taylor Greene.

The former President said about the bill, “If you get rid of TikTok, Facebook and Zuckerschmuck will double their business. I don’t want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!”

This is not the first time that Bannon has publicly attacked his former boss.

In a book released by author Michael Wolff, Bannon referred to the Trump organization as a ‘criminal enterprise’, saying that Trump is, “not the billionaire he said he was, just another scumbag.”

Bannon also reportedly claimed that investigation’s into Trump’s finances would reveal further evidence of a criminal enterprise. Bannon said, “This is where it isn’t a witch hunt – even for the hard core, this is where he turns into just a crooked business guy, and one worth $50m instead of $10bn.”

Bannon has also accused Donald Trump Jr. of working with the Russians during the 2016 Election, calling Trump’s son’s actions during a Trump Tower meeting during the campaign ‘treasonous.’

Reports have also surfaced showing that Bannon is facing court sanctions over a failure to pay his former lawyer, Bob Costello, over $484,000 in legal fees. Despite a Judge’s order that Bannon pay the sum, the former Trump strategist has reportedly been dodging follow-up subpoenas. That ruling occurred over 7 months ago.

New York Supreme Court Justice Arlene P. Bluth has ordered $10,000 sanctions on both Bannon and his lawyer over their refusal to pay.

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