The group finished raising over $4 million in 2019. The Rule of Law Foundation's 990 disclosure from 2019, the most recent year available, does not provide much information on who finances it or how it spends its money. He did not respond to follow-up requests for comment as to why he is no longer employed there, only to say that he no longer has access to the foundation's documents. Ross Heinemyer, who previously possessed the foundation's 'books and records,' no longer works there, he told CNBC in a LinkedIn message. Mercurio did not respond to a follow-up email asking why she no longer works there. Jennifer Mercurio, who was once general counsel, secretary and director of the Rule of Law Foundation, according to the group's 2019 990 tax return, told CNBC in an email that she stopped working for the foundation in February 2020. 'With most of the board members in NYC, I was a world away in Texas,' he added. 'I love the mission of bringing the rule of law concept to China and to helping the good Chinese diaspora use the law to their advantage,' Bass said in a text message. Kyle Bass, a hedge-fund manager and vocal China hawk, told CNBC that he resigned from his position as chair of the Rule of Law Foundation over a year ago to pursue other board opportunities. Other departuresīeyond Bannon, other key figures are no longer involved with the nonprofits. Bannon previously had a contract for at least $1 million with Guo Media, according to Axios.īannon did not respond to requests for comment. Guo could not be reached for comment. The Wall Street Journal reported that fundraising for a media company linked to Guo and Bannon was under investigation by both the Federal Bureau of Investigation and the Securities and Exchange Commission. After he blasted China's leadership, warrants were reportedly issued for his arrest on charges that included corruption and bribery.įorbes reported in 2015 that Guo had a net worth of over $1 billion. The New York Times Magazine previously reported that Guo fled China in 2014 in anticipation of corruption charges. Guo told the Times that he and Bannon were 'partners.' Bannon was listed as chair of the Rule of Law Society in documents filed to New York's Attorney General's office. The Chinese businessman told The New York Times at the time that he was aiming to put $100 million toward the effort.

Guo and Bannon launched the venture in late 2018. But the sites also feature pictures of the exiled businessman, and the Rule of Law Society's site notes that he is a founder, partner and spokesman for the group.

The websites for the Rule of Law Foundation and Rule of Law Society feature disclaimers that say they aren't affiliated with Guo. The two have worked on several projects aimed at undermining and countering the leaders of China's Communist Party. has continued its tough stances on China during the Biden administration.īannon has known Guo Wengui, also known as Miles Kwok, for years. Under Trump, who was advised by Bannon during the 2016 campaign and during his early days in office, the U.S. Scrutiny of the Guo-linked nonprofits has grown as the rivalry between the United States and China has become increasingly more intense amid trade battles and the spread of Covid-19, which originated in China. The people who explained Bannon's situation declined to be named in order to speak freely about a private matter. It is unclear whether he left the group's board before or after his arrest. Then-President Trump later pardoned Bannon. A person close to Bannon said he left the board as his schedule filled up with other priorities, including his live show 'War Room Pandemic.'īannon's departure also came around the time federal prosecutors charged him with allegedly defrauding hundreds of thousands of donors through his 'We Build the Wall' fundraising campaign, a person added. He was arrested on Guo's yacht and pleaded not guilty in August 2020. Both the Rule of Law Society and Rule of Law Foundation promote themselves as organizations that 'protect individuals speaking out against corruption and illegal activities in China.'īannon, one of the most ardent advocates for Trump's 'America First' ideology, left the group last summer, according to people familiar with the matter.

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