Key Highlights
- Guo, who filed for Chapter 11 bankruptcy in 2022, is currently detained, awaiting sentencing for a fraud and racketeering-conspiracy scheme amounting to $1.3 billion.
- The auctioning of the car was a complex process that involved a team of lawyers, bankruptcy judges, appraisers, and auctioneers.
- As per the report by Business Insider, it took them four years to ready the vehicle for auction.
- Initially, the car was listed as an asset of a Hong Kong-based shell company, registered in the name of Guo’s son and for a brief period, his chauffeur.
- Following Guo’s arrest, the car was discovered abandoned in a New Jersey tow lot.
