- ICO and IPO proceeds from sale of unregistered securities led to the arrest of Guo Wengui - Fines have already amounted to $486.6 million - SEC states that they used a mutual fund to misuse proceeds The United States Securities and Exchange Commission (SEC) has charged three of Chinese extremely rich person Guo Wengui’s organizations over an underlying coin offering (ICO) and first sale of stock (IPO) that got around $487 million consolidated. The notorious Wengui, otherwise called Miles Kwok or Miles Guo, is an ousted Chinese money manager who presently dwells in New York. Wengui is known for...