Woofun AI reports that a U.S. judge has sentenced Chinese exiled businessman Guo Wengui to 30 years in prison following his 2024 conviction for extortion, fraud, and money laundering. The court determined that Guo orchestrated a complex fraud scheme spanning five years with total involvement exceeding $1 billion.

In 2021, Guo launched the fraudulent cryptocurrency project Himalaya Coin (H-Coin), falsely claiming the token was backed by 20% gold and promising full compensation for losses to illegally raise approximately $500 million.

Additionally, Guo has been ordered to forfeit nearly $900 million in illegal gains, along with his New Jersey mansion and several luxury vehicles.