Woofun AI reports that a U.S. court has sentenced Miles Guo, also known as Ho Wan Kwok, to 30 years in prison following his 2024 conviction for extortion, fraud, and money laundering. Prosecutors established that Guo orchestrated a series of scams over five years, defrauding global victims of more than $1 billion.

The scheme notably included the promotion of Himalaya Coin (H-Coin) in 2021, where Guo claimed the token was backed by a 20% gold reserve and promised to cover all investor losses, raising approximately $500 million. The court previously ordered the confiscation of nearly $900 million in illicit proceeds, along with a New Jersey mansion and multiple luxury vehicles.