4 months ago
Miles Guo Sentenced to 30 Years for $1B Fraud Involving Himalaya Coin Crypto Project
On July 1, a US court sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison for racketeering, fraud, and money laundering, following a 2024 jury conviction. The case involves a five-year scheme defrauding global victims of over $1 billion, including the Himalaya Coin (H-Coin) crypto project that raised approximately $500 million by falsely claiming 20% gold backing. The court also ordered forfeiture of nearly $900 million in illicit proceeds, his New Jersey mansion, and luxury cars. The case underscores regulatory risks in celebrity-endorsed crypto projects.
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