Federal prosecutors continue the crack down on fraudsters that prey on innocent investors. On January 6, Daniel M. Gitner, Chief, Criminal Division, in the United States Attorney’s Office for the Southern District of New York, announced that Yvette Wang a/k/a “Yanping” was sentenced to 10 years in prison for conspiracy to commit wire fraud and conspiracy to commit money laundering. In addition to Wang’s prison sentence, she will serve three years of supervised release and agreed to pay a whopping forfeiture amount of $1.4 billion for crimes connected to Wang’s supervisory role in various financial crimes, along with her associate, Miles Guo, and their business entities.

As reported by Constantine Cannon in the past, from 2018 to 2023, the entities that allegedly raked in around $1.4 billion included GTV Media Group, Inc. (“GTV”), G Club Operations, LLC (“G|CLUBS”), the Himalaya Farm Alliance, and the Himalaya Exchange. The scams made false representations encouraging victims to invest, often capitalizing on Guo’s internet following by posting videos.

Guo and Wang bilked investors through operations, including the Rule of Law Charities, GTV Private Placement, the Farm Loan Program, and A10. Wang and her co-conspirators fraudulently solicited investments to fund their lavish lifestyles, splurging on luxury items like a Bugatti sports car worth approximately $4.4 million and a 50,000 square foot mansion in New Jersey.

Around November 2021, Wang’s accomplices also began offering the Himalaya coin, an alleged crypto scam used to siphon even more money from victims. In September 2022, U.S. authorities served warrants on several domestic banks and seized approximately $335 million of proceeds from bank accounts under Himalaya Exchange entities and other entities associated with Wang and co-conspirators.

Gitner commented that the “sentence is a reminder that there will be serious consequences for this conduct, and that this Office will work tirelessly to detect, prosecute, and punish fraud.”

In 2025, Wang was sentenced by U.S. District Judge Analisa Torres who stated that Wang was an “integral part of the conspiracy and knew what she was doing was illegal.” Guo was sentenced to prison in July 2024. His sentencing date is still pending.

Whistleblowers are critical to identifying financial frauds that impact innocent investors worldwide.

If you have any information on money laundering, cryptocurrency fraud or other financial crimes, do not hesitate to contact Constantine Cannon’s whistleblower lawyer team for a confidential consultation.

Read A $1B+ Fraud Conspiracy: Yvette Wang Sentenced To 10 Years in Prison at constantinecannon.com