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Wealth

Chinese Billionaire Arrested in NYC Revealed as NJ Mansion Owner

Prosecutors say Guo Wengui used funds raised from members of his exclusive concierge club to buy a 50,000-square-foot mansion in New Jersey.

The Crocker-McMillin mansion in Mahwah, New Jersey.

The Crocker-McMillin mansion in Mahwah, New Jersey.

Source: Google Earth
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Guo Wengui’s 15-room residence overlooking New York’s Central Park became the center of attention Wednesday when a fire scorched the apartment just hours after the Chinese mogul was detained on fraud charges.

Prosecutors say the co-op, which is currently listed for sale at about $32 million, isn’t the only property that Guo owns in the tri-state area. In 2021, he bought a historic 50,000-square-foot (4,600-square-meter) mansion in Mahwah, New Jersey, for $26 million.