Chinese billionaire behind Himalaya Exchange indicted for $1B scheme
Exiled Chinese billionaire and Himalaya Exchange supremo Ho Wan Kwok , also known as Miles Guo, Guo Wengui, and Miles Kwok, has been charged with racketeering-related charges under the Racketeer Influenced and Corrupt Organizations (RICO) Act. The charges against Kwok now include racketeering conspiracy, conspiracy to commit wire fraud and bank fraud, money laundering conspiracy, conspiracy to commit securities fraud, wire fraud, securities fraud, unlawful monetary transactions, and obstruction of justice. King Ming Je — also known as William Je and Yu Jianming — and Yanping Wang, both also behind the Himalaya Exchange, were charged alongside Kwok for their role in the conspiracy. Je is described in the indictment as “the financial architect and key money launderer for the Kwok Enterprise.” The indictment alleges that funds raised for this enterprise were used for a $100 million investment in a hedge fund, a $36.5 million mansion, a $62,000 TV, a $53,...