An exiled Chinese billionaire with links to Steve Bannon has been arrested by the in New York over allegations he masterminded a $1 billion fraud then splashed the cash on a yacht, mansion and other outrageous luxuries.Guo Wengui was detained by agents on Wednesday morning over an elaborate scam to defraud his legion of online followers through sham investments. He's expected to appear in court today.The business magnate, who also uses a host of aliases, spent the money on a 50,000-square-foot mansion in New Jersey, a Lamborghini supercar and luxury yacht worth approximately $37 million.
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