Chinese Businessman Guo Wengui Convicted For $1 Billion Crypto Scam
Guo Wengui, a Chinese billionaire linked to Donald Trump’s former Senior Counselor, was found guilty of several charges, including racketeering conspiracy and wire fraud. The self-exiled businessman, who is known as a vocal critic of the Chinese Communist Party (CCP), is set to be sentenced to decades in prison for his $1 billion crypto scheme. […]
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Bankrupt crypto lending platform BlockFi recently announced that repayments for customers who didn’t complete the withdrawal process through the platform will begin this month. Following the web platform’s shutdown in May, the interim crypto distributions will also be made through its partnership with crypto exchange Coinbase. Related Reading: Chinese Businessman Guo Wengui Convicted For $1 […]
The SEC has taken action against three companies owned by Chinese Billionaire Guo Wengui for commingling the proceeds from two unregistered securities offerings. The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined. The infamous Wengui, also known as Miles Kwok or Miles Guo, is an exiled Chinese businessman who currently resides in New York. Wengui is known for his controversial political takes and his ties to....
A number of masterminds from the Plustoken scam were sentenced to 11 years in prison for defrauding cryptocurrency investors. Last week, on November 19, a court ruling had shown the Chinese government said that it seized over $4 billion in crypto assets from the Plustoken scam. Meanwhile, onchain sleuths believe the Chinese government may have already sold a great number of the coins and simply added the proceeds to the central treasury. Plustoken Masterminds Sentenced to Up to 11 Years in Prison Just recently, a Jiangsu Yancheng Intermediate People’s Court ruling published on....
Crypto Israeli investor and prominent businessman Moshe Hogeg is set to face charges for his alleged involvement in a $290 million scam, according to a report by Bloomberg on Wednesday. Over the last two years, Hogeg has been investigated by the Israeli Police for allegedly duping thousands of investors through several proposed crypto businesses. Related […]
A massive police operation took place in Istanbul, Turkey, against a Chinese gang’s crypto scam. Authorities found that criminals kidnapped 101 people and forced them to run scam operations. Scammers Tricked Hostages by Promising Them Work in a Legit ‘Crypto Investment Consultancy’ According to Demirören Haber Ajansı, Istanbul police cracked down a fake “crypto investment consultancy” agency that allegedly hired these 101 people to run the scheme. In reality, the gang turned out to be a massive criminal operation, as they held hostage the employees....