A U.S. judge sentenced Chinese businessman Miles Guo, the billionaire behind the fraudulent crypto venture Himalaya Coin, to 30 years in prison, long after a trial jury found the well-connected defendant was guilty of several crimes in 2024.
Guo, 55, also known as Ho Wan Kwok and a number of other aliases, was a self-imposed exile from China who had a close relationship with Steve Bannon, the former strategist of President Donald Trump who has had his own legal entanglements. In 2021, Guo had pushed his fraudulent crypto token, known as H-Coin, telling prospective buyers that it was 20% backed by gold and that the operation would cover 100% of investment losses.
He was said to pull in $500 million in investments, which was just one element of what U.S. authorities called “interrelated fraud schemes” perpetrated over five years, leading to his conviction on counts including racketeering, fraud and money laundering.
