From Billionaire to Bankrupt: The Fall of Miles Guo

Miles Guo, once a billionaire, now sits in a federal jail in Brooklyn. His life was once filled with luxury, but now his assets are being sold to pay back those he defrauded. Guo's lavish lifestyle included a superyacht, custom suits, and a mansion with million-dollar carpets. But since 2022, his money, homes, cars, and jets have been seized by prosecutors and a bankruptcy trustee. They are trying to recover funds for thousands of victims in one of the biggest fraud cases in recent history. Guo's penthouse in Manhattan, which overlooks Central Park, is now for sale. It has 15 rooms and two terraces. Guo paid $67. 5 million for it in 2015, but it is now being sold for $12 million. His Connecticut mansion, bought for $4. 6 million in 2020, sold for $7. 2 million in 2024. It has 21 rooms, a tennis court, a pool, and a movie theater. Guo lived there for three years with round-the-clock security.The Crocker-McMillin mansion in New Jersey is the most elaborate of Guo's properties. He bought it for $26 million in 2022 and spent $18 million renovating it. It has 21 bedrooms and a pipe organ. It is now for sale for $19 million. Guo owned three private jets and a fleet of luxury cars. One of his jets, a Cirrus SF50 Vision Jet, sold for $3. 5 million. His most expensive car is a $4. 4 million Bugatti Chiron Super Sport. Guo's superyacht, the Lady May, was sold for $23 million in 2023. It has five staterooms and can sleep 10 guests. It is now for sale again for $29 million. Even small items from Guo's penthouse, like furniture and knickknacks, were auctioned off. A mahogany chest of drawers and a collection of ceramic figurines were among the items sold. Guo's fall from grace serves as a reminder that wealth and luxury can be fleeting. His story is a cautionary tale about the dangers of fraud and the consequences of living beyond one's means.