Chinese language billionaire’s $1B fraud expenses, Kwon’s $11M wager, Zhu Su and Islam: Asia Specific

Our weekly roundup of reports from East Asia curates the industrys most necessary developments.

In accordance with an announcement printed by the U.S. Division of Justice (DOJ) on Mar. 15, Chinese language billonaire Ho Wan Kwok (aka Miles Guo and extra generally as Guo Wengui), has been arrested on a complete of twelve expenses, together with wire fraud, securities fraud, financial institution fraud, and cash laundering. Amongst many objects, the DOJ alleges that Kwok/Guo “fraudulently obtained” greater than $262 million from victims by means of cryptocurrency platform Himalayan Change.

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