Why was Miles Guo sentenced to 30 years in prison?

Chinese businessman Miles Guo was sentenced to 30 years in prison after a US jury convicted him on nine fraud and conspiracy charges. Prosecutors said he raised more than US$1 billion from investors through fraudulent investment schemes linked to several business ventures.

What were Himalaya Exchange and Himalaya Coin?

According to the US Department of Justice, Himalaya Exchange and Himalaya Coin were part of the investment schemes promoted by Miles Guo. Prosecutors alleged the ventures raised more than US$262 million from investors and that funds were diverted to finance luxury purchases rather than legitimate investments.

What penalties did Miles Guo receive?

Miles Guo was ordered to serve 30 years in prison and forfeit US$889 million following his conviction. The US Department of Justice also said authorities seized about US$634 million held across 21 bank accounts connected to the investigation.

What is the SEC's case against Miles Guo?

The US Securities and Exchange Commission (SEC) separately charged Miles Guo and adviser William Je in March 2023, alleging they raised hundreds of millions of dollars through the unregistered Himalaya Coin crypto asset. The SEC is seeking permanent injunctions, civil penalties and the recovery of alleged unlawful gains.

How does the Miles Guo case fit into broader crypto enforcement?

The Miles Guo prosecution is part of broader cryptocurrency enforcement efforts in the United States and China. The US Department of Justice pursued criminal fraud and money laundering charges, while China's Supreme People's Procuratorate said it charged more than 1,200 people in cryptocurrency-linked money laundering cases between January 2025 and May 2026.

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Miles Guo jailed 30 years over crypto fraud

Written by Brie CarterPublished Jun 30, 2026, 7:31 AM

Chinese businessman Miles Guo was sentenced to 30 years in prison and ordered to forfeit US$889 million after his conviction in a US crypto-related fraud case.
Prosecutors said the scheme raised more than US$1 billion through ventures including Himalaya Exchange and Himalaya Coin.
The case forms part of broader cryptocurrency enforcement actions by US and Chinese authorities against alleged financial crimes.

Chinese businessman Miles Guo, also known as Guo Wengui, has been sentenced to 30 years in a US federal prison and ordered to forfeit US$889 million after being convicted of fraud and conspiracy offences linked to a cryptocurrency investment scheme that prosecutors said raised more than US$1 billion.

The sentence was imposed by US District Judge Analisa Torres after a jury found Guo guilty in July 2024 on nine fraud and conspiracy charges involving investment offerings promoted through businesses under his control.

“I came to the United States to destroy the CCP,” Guo told the court during the sentencing hearing, according to the Associated Press.

The US Department of Justice alleged that Guo used ventures including Himalaya Exchange and Himalaya Coin to raise more than US$262 million, while prosecutors said investor funds were diverted to purchase luxury assets including a mansion and high-end vehicles, and the US Securities and Exchange Commission continues pursuing related civil enforcement against Guo and his adviser William Je.

The criminal sentence follows parallel SEC proceedings seeking permanent injunctions, civil penalties and the recovery of alleged unlawful gains, while as the case concerns criminal enforcement there was no share price reaction.

The Justice Department also alleged that authorities seized about US$634 million across 21 bank accounts linked to the investigation after filing a 12-count indictment in March 2023 that included securities fraud, wire fraud, investment fraud and money laundering charges.

The case comes as Chinese authorities continue expanding enforcement against cryptocurrency-related financial crime, with the Supreme People's Procuratorate reporting that more than 1,200 people were charged in drug-related money laundering cases between January 2025 and May 2026, including schemes involving cryptocurrencies.