A former mayor involved in human trafficking is now connected to a crypto scandal involving millions in stolen assets.
Alice Guo Tied to Crypto Exchange Collapse
Alice Guo, the ex-mayor of a Philippine town, is facing new accusations tied to the collapse of Atom Asset Exchange (AAX), a cryptocurrency platform that defrauded users of millions. Already notorious for her involvement in a human trafficking case, Guo is now being scrutinized for her links to fraudulent crypto operations.
A History of Human Trafficking and Crime
Earlier this year, Alice Guo made headlines for her connections to a human trafficking ring. Located near her office in Bamban, investigators found 1,000 workers, many of whom were forced into illegal gambling operations and scams. This investigation also uncovered ties between Guo and several illegal business operations across the Philippines.
Business Connections to AAX’s Fraudulent Operations
Guo’s business partners, particularly those involved in the Sun Valley Clark Hub Corporation, were found to be linked to AAX’s fraudulent activities. The defunct crypto exchange once boasted over 2 million users, many of whom lost millions. AAX’s mastermind, Su Weiyi, is accused of laundering at least $2.15 million from users, though some estimates suggest losses as high as $30 million.
Shady Business Practices Emerge
The investigation into Guo’s financial activities also revealed several anomalies in her identity documents, suggesting she may have forged her Philippine heritage. Fingerprints linked her to a Chinese citizen, further raising suspicions. The fallout from these revelations extends beyond her human trafficking case and into larger concerns about crypto crime and money laundering.
Implications for the Crypto Industry
With Guo’s connections to AAX and other fraudulent entities, concerns grow over the unchecked expansion of illegal activities within the cryptocurrency space. The rise of these crimes emphasizes the need for tighter regulations and oversight to prevent future scams. The AAX scandal also puts a spotlight on crypto exchanges, as many fear that more platforms may be operating under similar fraudulent schemes.
Next Steps in the Legal Battle
As legal proceedings move forward, Guo’s involvement in these crimes continues to unfold. The authorities are expected to further investigate her role in facilitating both the human trafficking ring and the crypto fraud, bringing more scrutiny to the broader world of crypto-based crime.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
