Chinese businessman Miles Guo just got hammered in a New York courtroom—guilty on basically every charge: extortion conspiracy, securities fraud, wire fraud, money laundering. The man's looking at decades behind bars.
Here's the kicker: Guo wasn't just scamming through his GTV Media Group. He also tried to fleece retail investors out of $500M for a crypto project called H-Coin, claiming 20% was backed by gold. Spoiler: it wasn't. The SEC caught him red-handed.
Guo's been sitting in custody since his March 2023 arrest. This trial just nailed the coffin shut. Classic case of "crypto + too good to be true promises = federal prison time."
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Chinese businessman Miles Guo just got hammered in a New York courtroom—guilty on basically every charge: extortion conspiracy, securities fraud, wire fraud, money laundering. The man's looking at decades behind bars.
Here's the kicker: Guo wasn't just scamming through his GTV Media Group. He also tried to fleece retail investors out of $500M for a crypto project called H-Coin, claiming 20% was backed by gold. Spoiler: it wasn't. The SEC caught him red-handed.
Guo's been sitting in custody since his March 2023 arrest. This trial just nailed the coffin shut. Classic case of "crypto + too good to be true promises = federal prison time."