Runner in $20 Million ICO Scam Gets Six Months in Prison

Jerry Ji Guo, 33, who allegedly were running $20 million ICO scam, has been sentenced to six months in prison by a U.S. court.

The San Francisco resident pleaded guilty to one count of wire fraud in late 2019. He also admitted to having posed as an ICO consultant at the height of the 2017 ICO craze.

One of the key reasons for the lenient sentencing is Guo’s cooperation with the government. The DoJ revealed that he had assisted the government in identifying and return ill-gotten property through the forfeiture process.

A federal grand jury indicted Guo on November 15, 2018, charging him with eight counts of wire fraud. The DoJ will use the victim restoration process to return the stolen property to Guo’s victims.