Miles Guo Sentenced to 30 Years for $1 Billion Fraud Scheme

Miles Guo Receives 30-Year Sentence for Cryptocurrency Fraud

Chinese entrepreneur Miles Guo has been sentenced to 30 years in prison after being found guilty of orchestrating a fraudulent cryptocurrency scheme linked to the Himalaya Coin project. The sentencing, handed down by a U.S. judge, follows a jury's verdict in 2024 that convicted Guo on multiple charges, including racketeering and money laundering.

At 55, Guo, also known as Ho Wan Kwok, had significant connections, including ties to former Trump advisor Steve Bannon. He misled investors into believing that his H-Coin was backed by gold and would secure their investments against losses, ultimately attracting around $500 million over five years.

Deputy U.S. Attorney Sean Buckley stated, "Miles Guo orchestrated a vast scheme to defraud over $1 billion from thousands of Americans and victims globally through deceit and manipulation." Guo's operations were described as part of a broader network of fraud schemes.

In addition to his prison sentence, Guo has been ordered to forfeit nearly $900 million in illicit proceeds, including luxury assets such as a mansion in New Jersey and high-end vehicles like a Rolls Royce Phantom and a Bugatti. Guo was arrested in 2023 while leading GTV Media Group, which was also implicated in the fraudulent activities.

Steve Bannon, who was previously arrested on Guo's yacht in 2020 for unrelated federal charges, has his own legal troubles, having pled guilty to state-level charges in 2025 but avoiding jail time.