On July 16,2024, Guo (aka Miles Guo), who has been in the United States for many years, was convicted of defrauding thousands of people of more than $1 billion in a Manhattan court in New York.
Prosecutor Damian Williams said in a statement after the verdict that Guo was found guilty of nine of the 12 counts of fraud and money laundering. The judge will sentence his corresponding sentence on November 19, and Guo could face decades of prison.
Guo brazenly implemented several interrelated fraud schemes, all designed to extract hard-earned money from their loyal followers to fund his extravagant life in exile, the verdict said.
After the verdict was read, Guo smiled at his legal team in court and dozens of supporters, then turned and hugged lawyer Sabrina Shrove and shook hands with other members of the defense team, CNN reported.