Former Chinese billionaire and Bannon associate sentenced for fraud

A former Chinese billionaire who had aligned himself with U.S. conservative circles was sentenced for fraud. Prosecutors said the businessman presented himself as an anti‑Communist crusader to attract support. He cultivated ties with Steve Bannon and other right‑wing activists. The scheme involved soliciting donations from supporters under political pretenses. Instead of using the funds for political aims, he spent the money on personal luxuries. Purchases included multiple lavish homes. He also bought a Bugatti supercar with the contributed money. The sentencing underscores scrutiny of foreign‑linked political fundraising in the United States.