Chinese exile Guo Wengui ordered to pay US$134 million in US yacht case
- The Lady May made the news in 2020 when Trump ally Steve Bannon was arrested on unrelated federal charges while on board the vessel
- As part of a dispute over an unpaid loan, Guo was ordered to keep the yacht in US orders, but instead moved it to the Bahamas, a judge found
A US judge found Guo Wengui in contempt and ordered him to pay US$134 million to a creditor, ruling the exiled Chinese businessman moved a yacht out of US waters to shield it from debt collection.
Judge Barry Ostrager of New York state court found that Guo “exercised dominion and control” over the yacht, the Lady May, and had arranged for it to leave New York waters despite an earlier court order requiring it to remain in the jurisdiction.
The yacht made its way to the Bahamas.
The Lady May made the news in 2020 when political strategist Steve Bannon, a partner in a media venture with Guo, was arrested on unrelated federal charges while on board.
Guo, also known as Miles Kwok, was ordered to make the payment within five days or face the possibility of arrest.
