Chinese Exile’s Daughter Loses Appeal to Overturn Yacht Ruling

The daughter of convicted fraudster and Chinese exile Guo Wengui lost her bid to reverse a court order that found a shell company controlling a multimillion-dollar yacht was an alter ego of her father.

Guo Mei argued that the yacht belonged to HK International Funds Investments (USA) Ltd. and not her father, and therefore isn’t an asset of his bankruptcy estate that can be used to pay back creditors. But the trustee overseeing the estate presented “a mountain of evidence” to the contrary, the US Court of Appeals for the Second Circuit held Monday, affirming a lower court decision.

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