Miles Guo (also known as Guo Wengui and Ho Wan Kwok, among other aliases), a self-exiled Chinese businessman and political activist living in the United States, built a large following through online videos criticizing the Chinese government. Prosecutors said he exploited that trust by soliciting investments and donations under false pretenses, then misappropriated the money for personal luxury spending rather than the promised business or political purposes.
Guo was convicted in July 2024 (after a seven-week trial) on nine of 12 counts. Prosecutors described a multi-year scheme (spanning roughly 2018–2023) in which he defrauded thousands of his online followers—primarily supporters of his anti–Chinese Communist Party (CCP) activism—out of over US$1 billion through false promises of high returns and ties to his “Himalaya” movement. Guo promoted sham investment opportunities in entities he controlled, including the crypto-related Himalaya Exchange. On June 29, 2026, the Chinese tycoon was sentenced in the U.S. District Court for the Southern District of New York (Manhattan) to 30 years in a U.S. prison for defrauding investors. In addition, Guo was ordered to forfeit US$889 million in gains.
Key charges of conviction included:
- racketeering conspiracy (leading a criminal enterprise)
- conspiracy to commit wire fraud
- securities fraud
- money laundering (and related conspiracy charges).
Guo was found guilty of stealing the money intended for pro-democracy causes to fund an “extravagant lifestyle,” including a luxury yacht, a Manhattan apartment, a mansion in New Jersey, and Lamborghini, Bugatti, and Ferrari cars.
He maintains his innocence and plans to appeal.
Yvette Wang (also known as Yanping Wang) was Miles Guo’s chief of staff and a co-defendant/co-conspirator. Prosecutors described her as playing a managerial role in the entities used to solicit the more than $1 billion from Guo’s online followers through false investment claims.
Sources:
U.S. v. Guo, 23-cr-00118, U.S. District Court, Southern District of New York (Manhattan).
Van Voris, Bob (2026), “Exiled Chinese Tycoon Gets 30 Years in Prison for Billion-Dollar Fraud,” Bloomberg, June 29: Click here to read the full text.