Haojia Miao pleads guilty to Krstic Ponzi wire fraud
Haojia Miao has pled guilty to one count of wire fraud.
Count one of Miao’s indictment sees him admit he
and others, helped create, promote, market, and organize fraudulent investment platforms, including Option Giants, Options Rider, Bancde Options, Aeon Options, Banking Option, Instant Options, Fast Options, Elite Options, and others.
Miao and others, created, promoted, marketed, and organized the fraudulent investment platforms from China, Australia, the Philippines, and Serbia.
As per Miao’s plea agreement, at sentencing he faces
- up to 20 years in prison;
- a maximum $250,000 find, or twice what he gained/or his victims lost;
- up to three years of supervised release;
- restitution to his victims; and
- forfeiture of property.
The plea agreement struck will see prosecutors recommend Miao be sentenced to no more than 84 months (7 years).
Miao’s plea agreement was filed on December 8th. The court has yet to approve the agreement.
Miao’s boss, Kristijan Krstic, stands accused of orchestrating a $70+ million Ponzi empire.
Krstic’s whereabouts remain unknown. He and the remaining defendants are scheduled to face trial next March.
Update 9th February 2022 – Miao’s guilty plea has been accepted. He is currently scheduled to be sentenced on May 26th, 2022.