Guo Wengui Sentenced to 30 Years in Prison for Involvement in Over $1 Billion Fraud Case

BlockBeats News, July 1st, a U.S. court sentenced Miles Guo (Miles Guo, also known as Ho Wan Kwok) to 30 years in prison. Miles Guo was previously convicted by a jury in 2024 on charges of extortion, fraud, money laundering, among others, and this sentence was officially announced.

The prosecution stated that Miles Guo defrauded global victims of over $1 billion in a five-year series of related scam schemes. In 2021, he promoted a cryptocurrency project called Himalaya Coin (H-Coin), claiming that the token was backed by a 20% gold reserve and promising to cover all investor losses, raising approximately $500 million in total.

Furthermore, the court had previously ruled to confiscate nearly $900 million of Miles Guo's illicit proceeds, as well as his mansion in New Jersey and multiple luxury cars. Miles Guo had a close relationship with former White House senior advisor Steve Bannon, who was arrested on Miles Guo's yacht in 2020.