On July 16, 2024, Guo Wengui (aka Miles Guo), who has been in the United States for many years, was convicted of defrauding thousands of people of more than $1 billion in a Manhattan court in New York.
Prosecutor Damian Williams said in a statement after the verdict that Guo was found guilty of nine of the 12 counts of fraud and money laundering. A judge will sentence the corresponding sentence on November 19.
