Chinese Exile Guo Gets 30-Year Sentence for $1 Billion Crypto Fraud

Chinese exile Miles Guo, also known as Ho Wan Kwok and other aliases, was sentenced to 30 years in prison for running a fraudulent crypto operation. He had previously convinced thousands of investors that his H-Coin project was backed by gold and promised to cover 100% of investment losses.

Guo pulled in $500 million from investors but U.S. authorities called it part of an 'interrelated fraud scheme' that spanned five years, leading to his conviction on counts including racketeering, fraud, and money laundering.

U.S. Deputy Attorney Sean Buckley stated, '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.'