Guo Wengui, also known as Miles Guo, was sentenced to 30 years in a U.S. federal prison for orchestrating a $1 billion investment and cryptocurrency fraud that attracted thousands of online followers between 2018 and 2023.

The former Chinese property developer fled China in 2017 and settled in the United States, where he built a following by criticizing the Chinese Communist Party.

U.S. District Judge Analisa Torres ruled that Guo had used the trust of his supporters to fund a lavish lifestyle that included a 50,000‑square‑foot mansion, a Lamborghini valued at about $1 million and a yacht reported to cost $37 million. Prosecutors said the money was raised through schemes that promised high returns in exchange for investments in companies and digital currencies. Guo denied the allegations, stating that the funds were intended for political activism. He had cultivated relationships with other China critics, including former White House strategist Steve Bannon, and together they promoted a campaign called the New Federal State of China, which sought to overthrow the Communist Party. Bannon was separately convicted of a fraud scheme related to a border wall fundraising effort and received a three‑year conditional sentence.

The case underscores the legal scrutiny of online fundraising activities and the potential consequences for individuals who solicit money from the public without transparent oversight.