Circle · Donald Trump · China · Coinbase · CoinDesk
Chinese exile once linked to Trump strategist gets 30-year sentence in $1 billion fraud
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A U.S. judge sentenced Chinese businessman Miles Guo, the billionaire behind the fraudulent crypto venture Himalaya Coin, to 30 years in prison, long after a trial jury found the well-connected defendant was guilty of several crimes in 2024.
Key facts
- Guo, who ran GTV Media Group and was arrested in 2023, had been ordered to give up almost $900 million in proceeds, his ownership of a New Jersey mansion and several luxury cars, including a Rolls
- A U.S. judge sentenced Chinese businessman Miles Guo, the billionaire behind the fraudulent crypto venture Himalaya Coin, to 30 years in prison, long after a trial jury found the well-connected
- Former top Trump aide Bannon had been arrested on a 150-foot yacht owned by Guo in 2020 when he was federally charged in a fraudulent fundraising case that Trump wiped away with a pardon in 2021
- Miles Guo led a massive scheme to steal more than $1 billion through lies and deception from thousands of Americans and victims around the world,” said Deputy U.S. Attorney Sean Buckley
Summary
Chinese businessman Miles Guo was sentenced to 30 years for several crimes, including running a fraudulent crypto operation. Guo, who had ties to President Donald Trump's former political adviser, Steven Bannon, had created Himalaya Coin, known as H-Coin. Guo, 55, also known as Ho Wan Kwok and several other aliases, was a self-imposed exile from China who had a close relationship with Steve Bannon, the former strategist of President Donald Trump who has had his own legal entanglements. He was said to pull in $500 million in investments, which was one element of what U.S. authorities called "interrelated fraud schemes" perpetrated over five years, leading to his conviction on counts including racketeering, fraud and money laundering.