Chinese businessman Guo Wengui has been convicted in the United States and faces decades of imprisonment

According to CoinDesk, Chinese businessman Miles Guo, who is in exile overseas, has been found guilty of allegedly deceiving his supporters and engaging in a fraud totaling $1 billion with his company GTV Media Group. US prosecutor Damian Williams said in a statement, "Today, Guo Wengui's conspiracy was uncovered. Just now, the jury unanimously convicted Guo Wengui of extortion and multiple securities fraud, telecommunications fraud, and money laundering crimes. He will face decades in prison In addition to the criminal trial, the US Securities and Exchange Commission also accuses Guo Wengui of raising $500 million from retail investors to establish a cryptocurrency company called H-Coin, and falsely claiming that 20% of the company's assets are backed by gold. Guo Wengui was once an assistant to former Trump strategist Steve Bannon, who was arrested on Guo Wengui's yacht in 2020.