Guo Wengui chief of staff Yvette Wang pleads guilty to $1 billion fraud conspiracy in New York

Yvette Wang, the chief of staff to controversial exiled Chinese businessman Guo Wengui, pleaded guilty in New York federal court to a fraud conspiracy that swindled more than $1 billion from hundreds of thousands of victims around the world, prosecutors said.

Yvette Wang's plea came weeks before the 53-year-old Guo is set to stand trial in Manhattan federal court for related charges. Wang was scheduled to stand trial with Guo in that case before her plea. Wang, 45, agreed to pay $1.4 billion in restitution to the United States and to forfeit the same amount of money, according to Manhattan U.S. Attorney Damian Williams.

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