ChainCatcher news: According to CoinDesk, Chinese businessman Miles Guo, who lives in exile, was found guilty of defrauding his supporters and engaging in a $1 billion fraud with his company GTV Media Group. U.S. Attorney Damian Williams said in a statement: "Today, Guo Wengui's conspiracy was exposed. Just now, the jury unanimously found Guo Wengui guilty of extortion and multiple securities fraud, wire fraud and money laundering. He will face decades in prison."
In addition to the criminal trial, the SEC has charged Guo with allegedly raising $500 million from retail investors to set up a cryptocurrency business called H-Coin and falsely claiming that 20% of the company's assets were backed by gold.
