Miles Guo Should Forfeit More Than $1.3 Billion, Prosecutors Say

Prosecutors want convicted fraudster Miles Guo to pay a $1.3 billion money judgment, calling the figure a conservative estimate of the funds he tricked thousands of investors into handing over.

Guo should also forfeit millions of dollars seized from bank accounts linked to his schemes, along with his New Jersey mansion, and other luxury purchases including a Bugatti, a Lamborghini, a Rolls Royce Phantom, and a Porsche, prosecutors said in a motion submitted Monday to Judge Analisa Torres of the US District Court for the Southern District of New York.

The exiled Chinese businessman, also known as Guo Wengui or ...