Fugitive Guo faces new lawsuit in US

Six Chinese companies and four individuals are suing Chinese fugitive billionaire Guo Wengui in the United States, according to a report in 21st Century Business Herald, a Chinese business newspaper.

The 10 plaintiffs are demanding that Guo and two companies under his control pay off project debts totaling more than 10 billion yuan ($1.49 billion), the report said.

The plaintiffs said they signed contracts with Beijing Zheng Quan Holding Co and Beijing Pangu Investment Co - two companies under Guo's control - to provide construction services. However, they claimed Guo never fully paid the money he was contractually obligated to pay.

Although the plaintiffs had won in Chinese courts over the same complaints, they cannot get the money because Guo transferred most of the assets of the two companies abroad illegally, they said in the court filing.

They asked the court in the US to forbid Guo from transferring any assets.

This is not the first time Guo has faced lawsuits in the US. In June, nine construction companies based on the Chinese mainland jointly filed suit against Guo in the Supreme Court of the State of New York, accusing him of failing to pay project debts amounting to 272 million yuan ($40 million), plus bank interest, according to a report in business magazine Caixin.

Despite the accusations, Guo is leading a life of luxury in the US, Caixin reported.

Guo has often showed off his lavish lifestyle on Twitter. According to Caixin, he currently lives in New York City on the 18th floor of the Sherry-Netherland Hotel building at No 781 Fifth Avenue, which he bought in the 2015 for $67.5 million. He said recently that he would move to a new residence of 1,800 square meters from his current one, which is around 900 sq m.