Disgraced former Philippine mayor Alice Guo has been linked to the defunct Atom Asset Exchange, which laundered and stole millions in customer cryptocurrency assets in 2022.
Alice Guo’s crypto fraud
One of Guo’s business partners in the Baofu enterprise, Huang Zhiyang, was also tied to another fraudulent business, Sun Valley Clark Hub Corporation.
This company operated crypto scam operations using trafficked victims and housed a significant human trafficking ring. Rappler’s investigation found that Sun Valley’s shareholders were linked to a web of illegal activities stretching across Southeast Asia and Hong Kong.
Reports suggest the amount could be as high as $30 million. Su Weiyi, who co-owns other companies tied to convicted criminals, has been accused of orchestrating the theft of these funds, adding to the mounting evidence of a larger criminal network.
Guo, along with her partners, faces charges of money laundering, human trafficking, and operating an illegal gambling ring. Her ties to AAX and the broader network of fraudulent enterprises have raised concerns about the infiltration of organized crime into the Philippines.
Guo has denied all charges and continues to plead her innocence, though the evidence against her and her network of accomplices continues to mount.