Miles Guo Sentenced to 30 Years Over $1 Billion H-Coin Crypto Fraud
The Chinese exile and one-time ally of Steve Bannon was handed a three-decade sentence following his 2024 conviction in a sprawling fraud case.
AfroEuropa Newsroom
Automated Desk
Miles Guo, the Chinese businessman and exile once closely associated with former Trump strategist Steve Bannon, has been sentenced to 30 years in prison over a fraud scheme that prosecutors valued at roughly $1 billion, according to reporting by CoinDesk.
The sentence brings to a close a long-running legal saga that included his 2024 conviction. Guo had promoted the H-Coin cryptocurrency project, which authorities described as fraudulent, drawing in supporters and investors who were ultimately harmed by the scheme.
A High-Profile Conviction
Guo, a vocal critic of the Chinese government who built a substantial following abroad, became a recognizable figure in part through his political connections, including ties to Steve Bannon. According to CoinDesk, the H-Coin venture he pushed was central to the fraud case that led to his conviction two years ago. The 30-year term reflects the scale of the losses attributed to the scheme, which prosecutors pegged at around $1 billion.
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