Guo used the proceeds to fund a lavish lifestyle for himself and his family, including a $3.5 million Ferrari

C’mon, what’s the fucking point of that? Stupid people pay too much money for stupid shit. Oh well…

The Justice Department probably identified Bannon as part of the alleged criminal scheme to ensure prosecutors can use evidence linked to him against Guo, said Joshua Naftalis, a former assistant United States attorney in the Southern District.

[…]

Bannon did not advocate violating the law in this meeting. Rather he urged ways to sidestep SEC regulations on selling stock. He also suggested that Guo advisers should consult securities lawyers before proceeding. And the recording of this meeting does not show that Bannon knew that that G|Clubs would, as prosecutors charge, offer no actual services.

Damnit. I hoped his ass would get pinned to the wall, but it doesn’t seem like that’s happening here.