Chinese exile and former real estate tycoon Guo Wengui—also known as Miles Guo—has been sentenced to 30 years in a US federal prison after a conviction for defrauding thousands of people out of more than $1 billion. Multiple outlets report that a New York jury found him guilty in July 2024 on nine counts out of 12, including wire fraud, securities-related offences and money laundering, following charges brought by US authorities. The FBI arrested Guo in March 2023 at his Manhattan apartment overlooking Central Park.

Accounts across the reports describe how Guo raised over $1 billion from online followers who invested through various schemes, including cryptocurrency-related activity, between 2018 and 2023. Prosecutors say the money was used largely to support Guo’s lifestyle, including expensive properties and vehicles such as a large mansion, a yacht and a luxury car. Some coverage also notes his public persona as a critic of China’s Communist Party and his past links to US political figures. Guo denies the allegations, and his lawyers and reporting note he characterizes the funds as supporting political activism.