Disgraced former Philippine mayor Alice Guo has been linked to the defunct Atom Asset Exchange, which laundered and stole millions of dollars in customers’ crypto assets in 2022.
The connection comes as Guo is on trial for human trafficking and fraud, Rappler reported. Investigations into her activities revealed links to illegal gambling, human trafficking, and even Chinese espionage.
According to CNN and Rappler, Mr. Guo made headlines in early March when his ties to a financial slavery ring were revealed. The operation, located near Bambang’s mayor’s office, housed nearly 1,000 employees, many of whom were trafficked and forced to participate in illegal gambling and cryptocurrency fraud.
Alice Guo’s Cryptocurrency Scam
One of Guo’s business partners in the Baofu company, Huang Zhiyang, was also tied to another fraudulent company, Sun Valley Clark Hub Corporation.
The company operated a cryptocurrency fraud operation that exploited human trafficking victims and housed a large-scale human trafficking ring. Rappler’s investigation found that Sun Valley shareholders were involved in a web of illegal activities spanning Southeast Asia and Hong Kong.
The defunct AAX cryptocurrency exchange, founded by Su Weiyi, is at the center of a web of illegal activities surrounding Guo and his partners. AAX, which had more than 2 million users, shut down after being accused of misappropriating millions of dollars in customer funds.
According to reports, the amount could reach $30 million. Su Weiyi, a co-owner of other companies with ties to the convicted criminal, is accused of orchestrating the theft of these funds, and evidence of a larger criminal network is emerging. It’s increasing.
Guo and his partner are charged with money laundering, human trafficking, and operating an illegal gambling hall. Her ties to AAX and an extensive network of fraudulent companies raise concerns about the infiltration of organized crime into the Philippines.
There are also rumors and suspicions that she may have forged her Filipino citizenship, and investigators have linked her fingerprints to Chinese nationality. Sen. Risa Hontiveros publicly questioned whether Mr. Guo was a spy, a large-scale money launderer or a perpetrator of criminal activities.
Although Guo denies all charges and continues to maintain her innocence, evidence against her and her network of accomplices continues to mount.
