Bannon’s Chief Financial Backer Files For Bankruptcy

Raw Story reports:

A Chinese financier who bankrolled some of Steve Bannon’s projects was found in contempt by a U.S. judge earlier this month and ordered to pay $134 million to a creditor over a yacht he moved out of US waters to shield it from debt collection. Now, Guo Wengui has reportedly filed for bankruptcy. According to journalist Seth Hettena, Wengui stated that he has between $50,000-$100,000 in assets and owes between $100 million-$500 million in “litigation expenses, claims, and judgments.”

Read the full article.

Breaking: Fugitive Chinese billionaire Guo Wengui, who joined forces with Steve Bannon and financed the social media site Gettr, has filed for bankruptcy.

— Seth Hettena (@seth_hettena) February 16, 2022

In a bankruptcy petition filed today in Connecticut, Guo stated that he has between $50,000-$100,000 in assets and owes between $100 million-$500 million in “litigation expenses, claims, and judgments.” pic.twitter.com/031htE2wF4

— Seth Hettena (@seth_hettena) February 16, 2022

Guo’s largest creditors are almost all people who are suing him. The Pacific Alliance Asia Opportunity Fund, loaned Guo $30 million in 2008. He never repaid the loan and now owes Pacific Alliance $254 million. pic.twitter.com/yhC4TtoGK3

— Seth Hettena (@seth_hettena) February 16, 2022