US accuses Chinese tycoon of billion-dollar fraud

US authorities have charged a Chinese property tycoon based in New York with orchestrating a billion-dollar fraud.

Guo Wengui and one of his business partners, Kin Ming Je, are accused of wire fraud, securities fraud, bank fraud and money laundering.

Mr Guo is a critic of the Chinese government and an associate of ex-White House chief strategist Stephen Bannon.

In an online post, Mr Guo said he was handcuffed and interrogated for more than an hour.