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HomeCoins NewsNftFormer Philippine mayor embroiled in AAX Crypto Change scandal

Former Philippine mayor embroiled in AAX Crypto Change scandal

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  • A former Philippine mayor reportedly has ties to defunct crypto alternate AAX, which embezzled $30 million in buyer funds.
  • Alice Guo Enterprise Companions they’re linked to transnational organizations suspected of fraud and unlawful acts.
  • There may be hypothesis about her faux citizenship as her fingerprints are an identical to a Chinese language citizen.

Alice Guo, a former Philippine mayor, faces costs of involvement within the defunct Atom Asset Change (AAX) and different probably unlawful actions. A report from Rappler hyperlinks Guo's enterprise companions in Bamban to multinational organizations suspected of working scams.

The investigation comes as Guo faces ongoing felony costs for human trafficking and fraud. It’s alleged to be concerned in unlawful playing, human trafficking and probably Chinese language espionage.

The Mayor's Unlawful Crypto Ties

On the heart of this scandal is the defunct crypto alternate AAX, based by Su Weiyi. AAX closed in 2022 after being accused of misappropriating thousands and thousands of buyer funds, with reported losses reaching as much as $30 million. Su Weiyi faces costs of organizing the theft and has ties to different firms related to convicted criminals.

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Additionally Learn: Cybercriminals Misuse ChatGPT Identify In New Ethereum Rip-off: MEV Bot Rip-off Revealed

Rappler additionally highlighted one other fraudulent enterprise linked to Guo: Solar Valley Clark Hub Company. Her enterprise companion, Huang Zhiyang, has suspicious ties to an organization accused of working crypto scams utilizing human trafficking victims. The agency additionally reportedly operates a big group of human traffickers. In response to the report, shareholders of Solar Valley Clark Hub Company are alleged to have ties to an unlimited community of unlawful actions spanning Southeast Asia and Hong Kong.

The senator questions the mayor's falsified nationality

Guo's suspected hyperlinks to a failed crypto alternate and different allegedly fraudulent companies are elevating considerations concerning the infiltration of organized crime into the Philippines. The general public is more and more involved concerning the nation's vulnerability to unlawful actions. There are additionally allegations that Guo faked her citizenship as a result of her fingerprints match these of a Chinese language citizen.

Senator Risa Hontiveros raised considerations about Alice Guo's true citizenship and questioned her involvement in unlawful actions. The senator fears that Guo could possibly be a spy, a grasp cash launderer or a felony.

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