Facebook pages from self-exiled Chinese tycoon Guo Wengui's account are seen on computer screens in Beijing on Aug. 21, 2020. | Ng Han Guan\/AP Photo<\/p>\n
By Joseph Gedeon<\/p>\n
02\/16\/2022 02:17 PM EST<\/p>\n
Updated:02\/16\/2022 03:02 PM EST<\/p>\n
Exiled Chinese billionaire and Steve Bannon ally Guo Wengui filed for Chapter 11 bankruptcy on Tuesday days after a court ordered him to pay $134 million for attempting to avoid debt collection.<\/p>\n
In the petition, Guo, who also goes by Miles Kwok and Kwok Ho Wan, claims that his debts are not consumer or business-related, rather litigation expenses, claims and judgments. His legal issues are rooted in a $30 million loan from the Pacific Alliance Asia Opportunity Fund that was never repaid.<\/p>\n
Last week, a judge ruled that Guo had five days to pay a fine after arranging for a yacht to move out of the U.S. to the Bahamas despite a court order requiring that it remain in New York. Guo claims he doesnt own the yacht, but if he didnt pay the fine in time, hed risk being arrested.<\/p>\n
I was given only five days after the verdict came out [to pay the fine], Guo said in a video posted on GETTR, a social media site that he funds and is run by allies of former President Donald Trump. How could I possibly accept this? Thus I have to apply for personal bankruptcy.<\/p>\n
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Exiled Chinese billionaire and Steve Bannon financier files for bankruptcy - Politico<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Facebook pages from self-exiled Chinese tycoon Guo Wengui's account are seen on computer screens in Beijing on Aug. 21, 2020. | Ng Han Guan\/AP Photo By Joseph Gedeon 02\/16\/2022 02:17 PM EST Updated:02\/16\/2022 03:02 PM EST Exiled Chinese billionaire and Steve Bannon ally Guo Wengui filed for Chapter 11 bankruptcy on Tuesday days after a court ordered him to pay $134 million for attempting to avoid debt collection. Continue reading