U.S. Department
of Justice
United States v. Guanhua Su
United States v. Guanhua Su
Court Docket No.: 1:25-CR-357
Court Assigned: This case is assigned to the U.S. District Court for the District of Columbia, 333 Constitution Ave., NW, Washington, DC 20001 before Judge Amit P. Mehta.
Criminal Charges: On November 13, 2025, Guanhua Su, who goes by the alias “Michael Su”, was indicted on charges related to his involvement in a scheme to file false and deceptive investment adviser forms with the U.S. Securities and Exchange Commission (SEC). The false forms gave the impression that the entities were legitimate financial advisers, though they were sham entities.
According to the indictment, Su was the managing director and marketing director of Rhino Consulting Business Service Ltd, a Hong Kong-based financial services business. As alleged, between approximately February 2023 and March 2025, Su and his co-conspirators created at least 10 shell entities and filed fraudulent investment adviser forms with the SEC on behalf of the companies. For example, on behalf of two entities — Bluesky Eagle Capital Management LTD (Bluesky Eagle) and Wisdom Capital Management Group LTD (Wisdom Capital) — Su allegedly made or caused to be made false statements concerning the entities’ principal place of business, status as a public company, chief officers and whether information about private funds would be disclosed on other investment advisers’ filings.
According to the indictment, in April 2024, Bluesky Eagle and Wisdom Capital were used by co-conspirators to induce investors to purchase stock of a NASDAQ-listed public company based in the Cayman Islands with business in China that operated, at one point, with a variable interest entity (VIE) structure. Using false identities of financial advisers purportedly connected to Bluesky Eagle and Wisdom Capital, co-conspirators allegedly promised returns of 300-500% in WhatsApp chats, telling investors that they would be fully compensated for any losses. The indictment further alleges that as investors were told to buy stock in the public company, foreign-based brokerage accounts sold the company’s stock for gross proceeds of as much as $211 million. On April 17, 2024, the public company’s stock price collapsed by approximately 88%, resulting in significant investor losses.
Su is charged with conspiracy to commit securities fraud, making material misstatements in a report filed with the SEC, and false statements. If convicted, the defendant faces a maximum penalty of five years in prison for each count.
For more information about the charges in this case, please see below:
Victim Impact Statement: If you would like to submit a Victim Impact Statement, you may do so by mailing the Victim Impact Statement below (or a letter to the court) to: Victim Witness Unit, U.S. Department of Justice, Criminal Division, Fraud Section, 10th & Constitution Avenue, NW, Bond Building, Room 453, Washington, DC 20530. You also may submit the Victim Impact Statement via email at Victimassistance.fraud@usdoj.gov or by fax at: (202) 514-3708.
The information on this website will be updated as new developments arise in the case. If you have any questions, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at VictimAssistance.fraud@usdoj.gov.
Presumption of Innocence: It is important to keep in mind that a criminal indictment is merely an allegation, and defendants are presumed innocent until proven guilty and that presumption requires both the court and our office to take certain steps to ensure that justice is served.
Crime Victims’ Rights Act and Right to Retain Counsel: Because charges have been filed in this case in federal court, you also may be entitled to the following rights, according to the Crime Victims’ Rights Act, Title 18, United States Code, Section 3771: (1) The right to be reasonably protected from the accused; (2) The right to reasonable, accurate, and timely notice of any public court proceeding, or any parole proceeding, involving the crime or of any release or escape of the accused; (3) The right not to be excluded from any such public court proceeding, unless the court, after receiving clear and convincing evidence, determines that testimony by the victim would be materially altered if the victim heard other testimony at that proceeding; (4) The right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding; (5) The reasonable right to confer with the attorney for the Government in the case; (6) The right to full and timely restitution as provided in law; (7) The right to proceedings free from unreasonable delay; (8) The right to be treated with fairness and with respect for the victim’s dignity and privacy; (9) The right to be informed in a timely manner of any plea bargain or deferred prosecution agreement; and (10) The right to be informed of the rights under this section and the services described in section 503(c) of the Victims’ Rights and Restitution Act of 1990 (42 U.S.C. § 10607(c)) and provided contact information for the Office of the Victims’ Rights Ombudsman of the Department of Justice. The Crime Victims’ Rights Act (18 U.S.C. § 3771) applies only to victims of the counts charged in federal court, and thus individuals may not be able to exercise all of these rights if the crime of which the individual is a victim was not charged.
Section 3771(c)(2) of this Act requires that we advise you that you have the right to retain counsel. Although the statute specifically sets forth your right to seek advice of an attorney with regard to your rights under the statute, there is no requirement that you retain counsel. The Government may not recommend any specific counsel, nor can the Government (or the Court) pay for counsel to represent you. Government attorneys represent the United States.
If you elect to obtain counsel to represent your interests, please have your attorney notify this office in writing at: U.S. Department of Justice, Criminal Division, Fraud Section, 10th & Constitution Avenue, NW, Bond Building, 4th Floor, Washington, DC 20530, Attention: Victim Witness Unit; fax: (202) 514-3708; or email: victimassistance.fraud@usdoj.gov. If you elect not to retain counsel to represent your interests, you do not need to do anything.
Plea Agreements: Please be aware that many criminal cases are resolved by plea agreement between the Department of Justice and the defendant. You should also know that it is not unusual for a defendant to seek to negotiate a plea agreement shortly before trial is scheduled to begin. Plea agreements can be made at any time and as late as the morning of trial, leaving little or no opportunity to provide notice to you of the date and time of the plea hearing. If the court schedules a plea hearing in this case, we will use our best efforts to notify you of available information as soon as practicable. If you want to inform the prosecutor of your views regarding potential plea agreements, or any other aspect of the case, please contact the prosecutor assigned to this case or call the Victim Assistance Line toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov.