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Chinese billionaire’s $1B fraud charges, Kwon’s $11M bet, Zhu Su and Islam: Asia Express

Published 03/16/2023, 07:17 PM
Updated 03/16/2023, 07:40 PM
Chinese billionaire’s $1B fraud charges, Kwon’s $11M bet, Zhu Su and Islam: Asia Express

Our weekly roundup of news from East Asia curates the industrys most important developments.

According to an announcement published by the U.S. Department of Justice (DOJ) on Mar. 15, Chinese billonaire Ho Wan Kwok (aka Miles Guo and more commonly as Guo Wengui), has been arrested on a total of twelve charges, including wire fraud, securities fraud, bank fraud, and money laundering. Among many items, the DOJ alleges that Kwok/Guo “fraudulently obtained” more than $262 million from victims through cryptocurrency platform Himalayan Exchange.

Ho Wan Kwok/Guo Wengui promoting the purported benefits of the Himalaya Coin in 2021 (Youtube)
Guo explaining to followers, shortly before his arrest, how the NFSC will be the ultimate winner in a global battle between the U.S. and CCP for blockchain supremacy. (Youtube)
Do Kwon listening intensely in a Twitch stream post-Terra collapse as convicted felon Martin Shkreli explains why “jail’s not that bad.” (UpOnly)

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