Chinese Billionaire Arrested in NYC Revealed as NJ Mansion Owner

Guo Wengui’s 15-room residence overlooking New York’s Central Park became the center of attention Wednesday when a fire scorched the apartment just hours after the Chinese mogul was detained on fraud charges.

Prosecutors say the co-op, which is currently listed for sale at about $32 million, isn’t the only property that Guo owns in the tri-state area. In 2021, he bought a historic 50,000-square-foot (4,600-square-meter) mansion in Mahwah, New Jersey, for $26 million.

Guo Wengui at his New York apartment in 2017.

Photographer: Timothy A. Clary/AFP/Getty Images

With the help of his financial adviser, Guo fraudulently used funds raised from members of his G|Club to purchase the 58-room brick palace, as well as Chinese and Persian rugs, ...