Is Steve Bannon Arrested? What Did He Do And Where Is He Now?

Federal officials arrested exiled Chinese millionaire Guo Wengui in New York on Wednesday morning. Wengui is an associate of former Trump White House adviser Steve Bannon.

Mr. Guo is accused of orchestrating a $1 billion fraud scam. Steve Bannon is an American political strategist, media Executive, and former investment banker.

Following the detention of the political strategist’s associate, people wonder if Police officers have also arrested Steve Bannon. Here is the complete detail of what happened.

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Is Steve Bannon Arrested? What Did The Political Strategist Do?

As mentioned above, authorities took Steve Bannon’s associate, Guo Wengui, into Police custody on Wednesday morning (15 March 2023) in New York. Thus, it is not Steve who has been detained but his associate.

A news release for the Southern District of New York revealed that Guo (Ho Wan Kwok in court paper) was charged with 12 counts of wire fraud, securities fraud, bank fraud, and money laundering in an indictment that was unsealed on Wednesday.

Steve Bannon Arrested
A former Trump White House adviser Steve Bannon (right), and the exiled Chinese billionaire Guo Wengui. (Image Source: ABC)

Guo’s Manhattan penthouse in the Sherry-Netherland Hotel on Fifth Avenue was discovered on Fire the same day the news of his detention broke. When the Fire started, officers were carrying out law enforcement procedures at Guo’s apartment, and he had already been taken into custody.

The statement from U.S. Attorney Damian Williams revealed that the exiled business mogul was the mastermind of a sophisticated scheme to swindle thousands of his internet followers out of more than $1 billion.

Guo and his alleged accomplice Kin Ming Je, also known as William Je, are charged for using Guo’s internet presence to entice investors by offering outsized financial returns and other perks.

Following their theft of hundreds of millions of dollars obtained fraudulently, Steve Bannnon’s associate allegedly spent them on a lavish lifestyle.

Attorney Williams also disclosed that Ho Wan Kwok is accused of using the money he stole to line his own pockets, including funding a $37 million luxury boat and buying himself and his close family a 50,000 square foot estate, a $3.5 million Ferrari, and even two $36,000 beds.

Steve Bannon And Guo Wengui Relationship

After Bannon left the White House, he met Guo Wengui for the first time in October 2017. The Chinese billionaire and the political strategist cultivated a quick friendship.

Steve Bannon Arrested
Guo Wengui and Steve Bannon have been friends since October 2017. (Image Source: CNN)

They frequently met. In 2017, a report claimed that the Chinese business mogul gave a $150,000 loan to Steve Bannon shortly after his White House departure. Since then, Bannon and Guo have worked on several projects together.

Guo Wengui Pleaded Not Guilty

During his Wednesday afternoon court appearance, Steve Bannon’s associate, Guo Wengui, pleaded not guilty. Not only that, but he reportedly appeared relaxed, with his hands resting on his lap during the hearing.

Judge Katharine H. Parker heard Guo’s not-guilty plea. The exiled businessman also delayed his bail application until his attorneys showed up.

He agreed to be kept in detention for the time being. Public defender Tamara Giwa handled the hearing on 15 March as Guo Wengui’s attorneys were out of town. Giwa opted not to speak following the hearing.

During the court, Giwa stated that his attorneys would present a “strong bail package.” The next court date for the billionaire is 4 April.

The indictment also included an accusation of obstruction of justice against Kin Ming Je, Guo’s financier; however, he has not yet been detained.

Je’s lawyer’s information wasn’t immediately accessible on Wednesday. A request for comment from Bannon was not answered.

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