Guo Wengui is on trial in the United States for defrauding investors 1 billion dollars

According to Bloomberg, the fraud case of exiled businessperson Miles Guo opened in New York this week. Guo Wengui is accused of defrauding investors of more than $1 billion through a fraudulent scheme, including cryptocurrencies, social media platforms and agricultural loan schemes. The money brought him luxury goods including a $26 million New Jersey mansion and a $37 million yacht.
According to court documents, Guo Wengui and his associates allegedly misappropriated $100 million of equity issuance funds to invest in risky hedge funds, as well as investor funds used for agricultural loan schemes, members-only clubs and ICOs. Guo boasted to his social media followers about the dizzying success of his crypto "ecosystem", the Himalayan exchange, claiming that its cryptocurrency was backed by gold.
Gold Finance reported on March 16, 203 that exiled businessperson Miles Guo was arrested in New York on charges of a 1 billion dollar fraud scheme involving cryptocurrencies.