He bought a 50,000 square foot mansion, a $3.5M Ferrari, two $36,000 mattresses & a $37 million yacht." The government seized $634M from 21 bank accounts.
Kin Ming Je, a Hong Kong and UK dual citizen also known as William Je and described as Guo’s financier, was also named in the charges and faced a further count of obstruction of justice.
The US attorney for the SDNY, Damian Williams, said Guo “led a complex conspiracy to defraud thousands of his online followers out of over $1bn.
“[Guo] is charged with lining his pockets with the money he stole, including buying himself, and his close relatives, a 50,000 sq ft mansion, a $3.5m Ferrari, and even two $36,000 mattresses, and financing a $37m luxury yacht.”
Guo was arrested early on Wednesday at his home in a building on 60th Street and Fifth Avenue in New York City. Just after noon, a fire broke out at the same address, according to the New York fire department.
ABC News reported that FBI agents were inside the $32.5m penthouse apartment when the fire broke out, and that the bureau is now investigating whether the blaze was related to the arrest.
Guo’s contacts in influential circles have been widely reported. In addition, Mr. Williams announced that between September 2022 and March 2023, the U.S. Government seized approximately $634 million from 21 different bank accounts. The $634 million constitutes proceeds of KWOK’s alleged fraud, which the Government will seek to forfeit. Today, law enforcement also seized assets that were purchased with proceeds of KWOK’s alleged fraud, including a Lamborghini Aventador SVJ Roads.
U.S. Attorney Damian Williams said: “As alleged, Ho Wan Kwok, known to many as “Miles Guo,” led a complex conspiracy to defraud thousands of his online followers out of over $1 billion dollars. Kwok is charged with lining his pockets with the money he stole, including buying himself, and his close relatives, a 50,000 square foot mansion, a $3.5 million Ferrari, and even two $36,000 mattresses, and financing a $37 million luxury yacht.
As alleged, Kwok lied to his victims and promised them outsized returns if they invested, or provided money to, GTV, his so-called Himalaya Farm Alliance, G|CLUBS, and the Himalaya Exchange.
Kwok is further charged with laundering hundreds of millions of stolen funds to conceal the conspiracy’s illegal activities and continue the fraud’s operations. My office and our law enforcement partners will continue to do all that we can to protect the community from the devastating consequences of pernicious fraud schemes. If you believe you are a victim of Kwok and Je’s fraud, please contact [email protected] or https://forms.fbi.gov/NY_GTV. My Office and the FBI are here to help those who were harmed by this malicious fraud.”
FBI Assistant Director Michael J. Driscoll said: “The indictment today alleges the defendants were behind an elaborate scheme that defrauded thousands of individuals of over one billion dollars. Fraudulent investment scams make victims out of innocent people, ultimately harming the public’s confidence in the integrity of financial systems. The FBI continues to make investigating complex financial crimes a top priority, and anyone attempting these crimes will be made to face the consequences in the criminal justice system.”
As alleged in the Indictment unsealed in Manhattan federal court and court filings:[1]
From at least in or about 2018 through at least in or about March 2023, KWOK, JE, and others, conspired to defraud thousands of victims of more than approximately $1 billion. KWOK was the leader of this complex conspiracy.
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