Overview
- A federal judge in Manhattan on Monday, June 29, 2026, sentenced Guo Wengui to 30 years in prison after a July 2024 jury found him guilty on nine counts including fraud, securities offenses, wire fraud, and money laundering.
- Judge Analisa Torres ordered Guo to forfeit $889 million and credited the government’s seizure of hundreds of millions from accounts, while prosecutors say the schemes raised more than $1 billion from supporters between about 2018 and 2023.
- Prosecutors described multiple vehicles for the fraud — GTV Media, membership clubs called G|CLUBS, the Himalaya Farm Alliance, and the Himalaya Exchange crypto products including H‑Coin — that funneled investor funds into personal assets such as mansions, a yacht, and luxury cars.
- Victims told the court they lost life savings and suffered severe emotional harm, and prosecutors said more than 1,000 people were affected, while Guo’s lawyers say he will appeal and continue to argue the prosecution is politically driven by the Chinese Communist Party.
- The case highlights growing U.S. enforcement of affinity and crypto‑linked fraud, raises practical questions about how seized assets and forfeiture will turn into restitution for harmed investors, and draws international attention because China notes an Interpol red notice seeking Guo.