Statement Of U.S. Attorney Damian Williams On The Conviction Of Miles Guo
Miles Guo, an exiled Chinese businessman, was convicted of racketeering conspiracy, securities fraud, wire fraud, and money laundering for operating fraud schemes that victimized thousands and faces decades in prison.
Miles Guo, a self-styled billionaire, operated multiple interrelated fraud schemes targeting thousands of online followers, deceiving them into investing millions. Guo used the funds to acquire luxury assets, including a $37 million yacht, a $1 million Lamborghini, and a 50,000-square-foot mansion. He was convicted by a unanimous jury on charges of racketeering conspiracy, securities fraud, wire fraud, and money laundering, and faces decades in prison.
Miles Guo, an exiled Chinese businessman and purported billionaire, was convicted by a unanimous jury on charges of racketeering conspiracy, securities fraud, wire fraud, and money laundering. Guo operated several interrelated fraud schemes, victimizing thousands of his online followers and accumulating hundreds of millions of dollars in ill-gotten gains. The funds were used to finance a lavish lifestyle, including a 50,000 square foot mansion, a $1 million Lamborghini, and a $37 million yacht. The U.S. Attorney's Office for the Southern District of New York secured the conviction and seized hundreds of millions of dollars' worth of fraud proceeds. Guo now faces decades in prison. The conviction is part of a broader effort to hold financial fraudsters accountable and deliver justice to victims. The case was brought by the career prosecutors of the U.S. Attorney's Office and law enforcement partners. Guo's schemes have been put to an end, bringing justice to his victims.
Extracted insights
- $37.00M $37 million $10M–$100M
- $1.00M $1 million $1M–$10M
- person miles guo
- company the career prosecutors of this office and our law enforcement partners
- U.S. Attorney Damian Williams Released Statement On The Conviction Of Miles Guo
- Miles Guo Operated Several Interrelated Fraud Schemes
- Miles Guo Designed To Fleece His Loyal Followers Out Of Their Hard-Earned Money
- Miles Guo Lived In His 50,000 Square Foot Mansion
- Miles Guo Drove His $1 Million Lamborghini
- Miles Guo Lounched On His $37 Million Yacht
- Thousands Of Guo’s Online Followers Were Victimized So That Guo Could Live Of A Life Of Excess
- A Unanimous Jury Found Miles Guo Guilty Of Racketeering Conspiracy And Various Securities Fraud, Wire Fraud, And Money Laundering Charges
- Miles Guo Faces Decades In Prison
- The Career Prosecutors Of This Office And Our Law Enforcement Partners Brought This Case And Seized Hundreds Of Millions Of Dollars’ Worth Of Fraud Proceeds
- This Office Commited To Prosecuting Malicious And Harmful Fraud Schemes
Press Release Statement Of U.S. Attorney Damian Williams On The Conviction Of Miles Guo Tuesday, July 16, 2024 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York “Miles Guo, an exiled Chinese businessman and purported billionaire, brazenly operated several interrelated fraud schemes, all designed to fleece his loyal followers out of their hard-earned money so that Guo could spend his days in his 50,000 square foot mansion, driving his $1 million Lamborghini, or lounging on his $37 million yacht. Thousands of Guo’s online followers were victimized so that Guo could live of a life of excess. Today, Guo’s schemes have been put to an end. Moments ago, a unanimous jury found Miles Guo guilty of racketeering conspiracy and various securities fraud, wire fraud, and money laundering charges. He faces decades in prison. I commend the career prosecutors of this Office and our law enforcement partners for bringing this case and seizing hundreds of millions of dollars’ worth of fraud proceeds so that justice can be brought to Guo’s victims. This Office will not waver in our dedication to prosecuting malicious and harmful fraud schemes.” Contact Nicholas Biase, Lauren Scarff, Shelby Wratchford (212) 637-2600 Updated July 16, 2024 Topics Financial Fraud Securities, Commodities, & Investment Fraud Component USAO - New York, Southern Press Release Number: 24-247
Press Release Statement Of U.S. Attorney Damian Williams On The Conviction Of Miles Guo Tuesday, July 16, 2024 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York “Miles Guo, an exiled Chinese businessman and purported billionaire, brazenly operated several interrelated fraud schemes, all designed to fleece his loyal followers out of their hard-earned money so that Guo could spend his days in his 50,000 square foot mansion, driving his $1 million Lamborghini, or lounging on his $37 million yacht. Thousands of Guo’s online followers were victimized so that Guo could live of a life of excess. Today, Guo’s schemes have been put to an end. Moments ago, a unanimous jury found Miles Guo guilty of racketeering conspiracy and various securities fraud, wire fraud, and money laundering charges. He faces decades in prison. I commend the career prosecutors of this Office and our law enforcement partners for bringing this case and seizing hundreds of millions of dollars’ worth of fraud proceeds so that justice can be brought to Guo’s victims. This Office will not waver in our dedication to prosecuting malicious and harmful fraud schemes.” Contact Nicholas Biase, Lauren Scarff, Shelby Wratchford (212) 637-2600 Updated July 16, 2024 Topics Financial Fraud Securities, Commodities, & Investment Fraud Component USAO - New York, Southern Press Release Number: 24-247