Yvette Wang, co-defendant of Chinese businessman Miles Guo, pleaded guilty Friday to conspiracy to commit wire fraud and conspiracy to commit money laundering, telling U.S. District Judge Analisa Torres of the Southern District of New York that she agreed to transfer money even though she knew it was wrong.

Guo, who has been linked to former Trump adviser Steve Bannon, and Wang were arrested in March 2023 and charged with involvement in a scheme to induce Guo’s internet followers to invest more than $1 billion in fraudulent enterprises and launder the proceeds.