US Authorities Arrest Suspect of $1B Crypto Scam

Miles Guo, also known as Ho Wang Kwok, Miles Kwok, Go Wengyi, Brother Seven, and “Principal,” has been arrested by US authorities on charges related to crypto-related scams amounting to over $1 billion.

Together with his accomplice Kin Ming Je, also known as William Je, they allegedly incited thousands of subscribers to fund an online club called G|CLUBS.

Through the Himalaya crypto exchange the couple launched, they received $262 million. If convicted, both individuals would face a total of 215 years in prison each. Je is still at large.

The US government has seized $634 million from 21 different banks, in addition to the assets owned by Guo and Je, including a Lamborghini Aventador SVJ Roads.

The SEC has also accused the couple of raising $850 million in “unregistered and fraudulent offers.”