Former Director of Blockchain Global Liang Guo Detained in Australia
Extinct Director of Blockchain Global Liang Guo Detained in Australia
Authorities no longer too prolonged within the past barred Liang Guo, the used director of the now-defunct Australian cryptocurrency agency Blockchain Global, from leaving Australia following a court docket uncover issued by the Federal Court docket of Australia on February 28.
The Australian Securities and Investments Commission (ASIC) announced on X that it had secured an duration in-between bound back and forth restraint uncover from the Federal Court docket of Australia against Liang Guo.
We have got secured duration in-between orders restraining Liang Guo, a used director of Blockchain Global, from leaving Australia. We are investigating Mr Guo and two other administrators over the collapse of a #crypto-asset alternate operated by the firm https://t.co/ZqojEQoLUK
— ASIC Media (@asicmedia) February 28, 2024
Liang Guo Grounded In Australia
The court docket has mandated that Guo quit all passports he owns, prohibiting him from departing or attempting to recede Australia until August 20.
The uncover was as soon as issued in Guo’s absence throughout a listening to, with the used director unable to provide a response. Guo is scheduled to manufacture his subsequent court docket look on March 12.
“ASIC utilized for the bound back and forth restraint orders over concerns that Mr Guo can also unbiased recede the country while it continues its investigation,” the regulator acknowledged.
The allegations against Guo “are very extreme,” acknowledged Justice Catherine Button within the federal court docket judgment.
Because the director, Guo allegedly transferred $1.69 million (2.6 million AUD) from a checking account preserving ACX Substitute investor funds for personal investments. Moreover, in 2019, Guo reportedly transferred 21.11 Bitcoin (currently valued at roughly $1.3 million) to a non-public pockets below his help a watch on.
Blockchain Global
Failed crypto agency Blockchain Global collapsed in early 2020 and unruffled owes creditors $37 million.
Blockchain Global was as soon as the operator of ACX Substitute from January 2016 to December 2019, and had liquidators appointed to oversee the alternate’s winding down in February 2022.
ASIC is also probing Guo, on the side of Blockchain Global’s other administrators, Xue Lee and Zijang Xu, for alleged corporate regulations breaches throughout ACX operations. Lee and Xu are believed to be residing international.
Justice Button talked about Guo as the first particular person of pastime final in Australia, doubtlessly bettering the prospects of recovering funds.
On January 29, Lee was as soon as charged by the U.S. Securities and Substitute Commission in connection with a $1.7 billion crypto fraud arrangement called “HyperFund.” Lee, on the side of associate Brenda Chunga, allegedly promoted membership programs with false guarantees of high returns from crypto mining and other activities.
Lee also faces U.S. charges for conspiracy to commit securities and wire fraud.
Source : cryptonews.com
