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Philippine authorities are <a href="https://www.rappler.com/newsbreak/investigative/chinese-crime-gangs-penetrate-philippines-alice-guo-pogos/" rel="noopener noreferrer nofollow">cracking</a> down on an expansive network of cryptocurrency fraud linked to Chinese crime syndicates. The scam network spans Hong Kong, Cambodia and Singapore. It allegedly entered the Philippines through ex-mayor Alice Guo’s business ties. Guo, who is now in custody, has worked with fugitives involved in major crypto scams and money laundering.Crypto Scams UncoveredGuo’s associates- Huang Zhiyang and Dingkai Wang- are also accused of running crypto scams. They tricked victims through dating sites and online platforms. Many people were deceived into sending money thinking they were investing in cryptocurrency. In one recent Senate hearing, Guo attempted to distance herself from Huang, claiming, “He has many restaurants, I was selling him pork...he was kind.” This was despite Huang being heavily involved in transnational scam operations, which were uncovered during multiple raids.The scale of the scam operations is massive. The Sun Valley Clark Hub in Pampanga, Philippines, where trafficked workers carried out scripted scams, is just one part of the network. Workers pretended to be investors or lovers to manipulate targets into sending cryptocurrency. The facility was raided in early 2023 to uncover hundreds of trafficked victims forced to carry out these fraudulent acts. Some workers were so tightly controlled they had to follow Excel-based scripts for conversations.Guo’s partners aren’t small-time operators. Huang and his group also face money laundering charges in Singapore, using gambling profits to fund their scams. The UN has linked their operations to trafficking and torture in Cambodia. In parallel to it the UK authorities have sanctioned their activities for concealing evidence of human rights abuses.<a href="https://cryptotale.org/crypto-fraud-ring-tied-to-ex-mayor-guo-shocks-philippines/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Crypto Fraud Ring Tied to Ex-Mayor Guo Shocks Philippines

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