Hong Kong Hedge Fund Files $88 Million Lawsuit Against Elusive Businessman Guo Wengui
(New York) -- A hedge-fund company has filed a lawsuit against controversial Chinese businessman Guo Wengui in New York, claiming that the elusive real estate tycoon owes it $88 million due to a “straightforward breach of contract case.” Guo, also known as Miles Kwok, fled China in 2014 soon before the Communist Party’s graft fighters detained his close associate Ma Jian , a former national security official who remains under investigation for suspected corruption. Interpol recently issued a “red notice” for Guo. A "red notice" is a request to locate and provisionally arrest an individual pending extradition. It is not an international arrest warrant, according to the Interpol website. Pacific Alliance Asia Opportunity Fund L.P. (PAX), an investment fund company, said it has been trying for years to get repayment of a loan borrowed in 2008 by Spirit Charter, a company that Guo controlled. The $30 million loan has grown to approximately $88 million after nine year...