The Globe and Mail reports in its Thursday edition that a business tycoon long sought by the government of China and known for cultivating ties to Trump associates including Steve Bannon was arrested Wednesday in New York on charges that he oversaw a $1-billion (U.S.) fraud conspiracy. An Associated Press dispatch to The Globe says that Guo Wengui, 54, and his financier, Kin Ming Je, faced an indictment in Federal Court in Manhattan charging them with various crimes, including wire, securities and bank fraud. Prosecutors said the indictment stemmed from a complex scheme in which Mr. Guo lied to hundreds of thousands of on-line followers in the United States and around the world before misappropriating hundreds of millions of dollars. Mr. Kin, 55, has not been arrested. In court papers, prosecutors say Mr. Guo has harassed critics and would face more than 100 years in prison if convicted of all charges. They also say he claims less than $100,000 (U.S.) in assets even though he lives lavishly. The Securities and Exchange Commission also brought civil charges against Mr. Guo on Wednesday, saying Mr. Guo targeted retail investors promoting a crypto asset security called "H-coin" claiming it was backed by gold reserves.