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No bail for exiled Chinese businessman Guo Wengui

FILE PHOTO: Guo Wengui, an exiled Chinese businessman with ties to former Donald Trump adviser Steve Bannon, sits as he appears on charges of leading a complex conspiracy to defraud Guo's online followers out of more than $1 billion at a courthouse in New York, U.S., March 15, 2023 in this courtroom sketch. REUTERS/Jane Rosenberg/File Photo

By Jonathan Stempel

A U.S. appeals court in Manhattan on Wednesday said the exiled Chinese businessman Guo Wengui should remain in jail while he awaits trial over an alleged fraud that federal prosecutors have said exceeds $1 billion.

The 2nd U.S. Circuit Court of Appeals said it did not have a “definite and firm conviction” that a trial judge erred in rejecting Guo’s proposed $25 million bail package.

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