Miles Guo Sentenced to 30 Years for Billion-Dollar Fraud; $889 Million Forfeiture Ordered
Miles Guo, also known as Ho Wan Kwok and Guo Wengui, was sentenced on June 29, 2026, by U.S. District Judge Analisa Torres in the Southern District of New York to 30 years in prison for leading a scheme that solicited more than $1 billion from thousands of his online followers, the U.S. Attorney's Office announced on June 30. Guo, 55, originally from China, was also ordered to forfeit $889 million, along with his interest in specific property including a $26.5 million New Jersey mansion, a Lamborghini, a Rolls Royce Phantom and a Bugatti sports car, and to pay a $900 special assessment.
Guo was convicted on July 16, 2024, after a seven-week jury trial, of racketeering conspiracy, conspiracy to commit wire fraud, securities fraud and money laundering, among other charges. According to the evidence at trial, the schemes began in 2018 with the Rule of Law Foundation and Rule of Law Society, which Guo falsely claimed he had seeded with his own $100 million, and went on to include an unregistered offering of GTV stock, a loan program that raised another $100 million, the G|CLUBS membership program, which raised at least about $240 million, and the Himalaya Exchange, whose H Coin and H Dollar were described as backed by gold reserves but were, in the prosecutors' words, little more than made-up figures on an internal spreadsheet.
Prosecutors said Guo and his family spent victims' money on a $26.5 million New Jersey mansion, an $832,000 Lamborghini, two multimillion-dollar sports cars for his son and a $2 million yacht. Between 2022 and 2023, the United States seized more than $630 million of Guo's criminal proceeds, along with luxury cars, the mansion and expensive furniture. The case was investigated by the FBI, and the Securities and Exchange Commission has filed a parallel civil action.
Source: U.S. Attorney's Office for the Southern District of New York
Published by GSM · USA (original Chinese edition)
Photo: 图：位于纽约曼哈顿 Foley Square 的 Thurgood Marshall 联邦法院大楼，郭文贵案在纽约南区联邦法院审理。Kidfly182 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: The Thurgood Marshall United States Courthouse at Foley Square in Manhattan; Guo's case was heard in the Southern District of New York. Photo by Kidfly182, CC BY-SA 4.0, via Wikimedia Commons.
