Statement Of U.S. Attorney Damian Williams On The Conviction Of Miles Guo

“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.”