G Fashion, the Los Angeles-based apparel and accessories brand founded by controversial Chinese billionaire Guo Wengui, has shuttered its L.A. operations abruptly barely six months after launch. Nearly 100 employees were laid off last week without severance, according to an executive familiar with the matter.
The exiled businessman, who also goes by the names Miles Guo and Miles Kwok, is an associate of former Trump White House adviser Stephen K. Bannon, who was arrested last year on federal fraud charges while aboard Guo’s yacht. (Guo Media contracted Bannon for $1 million in consulting services, according to Axios.)
Guo is also a member of Trump’s Mar-a-Lago, and was planning a fashion show at the resort in June to mark the one-year anniversary of New Federal State of China, a lobbying group he and Bannon created in 2020 with the goal of overthrowing the Chinese Communist Party, said several former employees interviewed by WWD.
While living in China, Guo achieved success as a real estate developer, at one point ranking as the country’s 73rd-richest person. But after being accused of bribery, fraud and money laundering, he fled to New York, settling in a $67 million penthouse at the Sherry-Netherland hotel overlooking Central Park.
Using YouTube and Twitter to lob corruption claims back at the Chinese Communist Party, he cultivated an online reputation as a whistleblower, and built a powerful media empire, including GNews and GTV Media, to express his…