Exiled Chinese Tycoon’s Associate Sentenced to 10 Years for $1 Billion Fraud

Yvette Wang, chief of staff to Miles Guo, was sentenced for her role in a scheme defrauding thousands of investors through fraudulent ventures and luxury spending.

• Yvette Wang, 45, was sentenced to 10 years in prison for conspiracy to commit wire fraud and money laundering in a $1 billion fraud scheme led by Miles Guo.
• The scheme defrauded thousands of investors through ventures like GTV Media, the Himalaya Exchange, and G|CLUBS, which falsely promised returns or benefits.
• Proceeds from the fraud were used to fund extravagant purchases, including luxury cars, a mansion, and expensive furnishings, while Wang personally received a $1.1 million Manhattan condo and $500,000 annually.
• Guo, a self-exiled Chinese tycoon and outspoken critic of the Chinese Communist Party, was convicted in July 2024 and awaits sentencing, while a third co-conspirator, Kin Ming Je, remains at large.
• Wang agreed to forfeit $1.4 billion and will serve three years of supervised release following her prison term.

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