Authorities recently barred Liang Guo, the former director of the now-defunct Australian cryptocurrency firm Blockchain Global, from leaving Australia following a court order issued by the Federal Court of Australia on February 28.<\/p>\n
The Australian Securities and Investments Commission (ASIC) announced on X<\/a> that it had secured an interim travel restraint order from the Federal Court of Australia against Liang Guo.<\/p>\n We have secured interim orders restraining Liang Guo, a former director of Blockchain Global, from leaving Australia. We are investigating Mr Guo and two other directors over the collapse of a #crypto<\/a>-asset exchange operated by the company https:\/\/t.co\/ZqojEQoLUK<\/a><\/p>\n \u2014 ASIC Media (@asicmedia) February 28, 2024<\/a><\/p>\n <\/span> The order was issued in Guo\u2019s absence during a hearing, with the former director unable to provide a response. Guo is scheduled to make his next court appearance on March 12.<\/p>\n \u201cASIC applied for the travel restraint orders over concerns that Mr Guo may leave the country while it continues its investigation,\u201d the regulator said.<\/p>\n The allegations against Guo \u201care very serious,\u201d said Justice Catherine Button in the federal court judgment.<\/p>\n As the director, Guo allegedly transferred $1.69 million (2.6 million AUD) from a bank account holding ACX Exchange investor funds for personal investments. Additionally, in 2019, Guo reportedly transferred 21.11 Bitcoin (currently valued at approximately $1.3 million) to a private wallet under his control.\n<\/p>\n <\/span> Blockchain Global was the operator of ACX Exchange from January 2016 to December 2019, and had liquidators appointed to oversee the exchange\u2019s winding down in February 2022.<\/p>\n ASIC is also probing Guo, along with Blockchain Global\u2019s other directors, Xue Lee and Zijang Xu, for alleged corporate law breaches during ACX operations. Lee and Xu are believed to be residing overseas.<\/p>\n Justice Button mentioned Guo as the primary person of interest remaining in Australia<\/a>, potentially enhancing the chances of recovering funds.<\/p>\n On January 29, Lee was charged by the U.S. Securities and Exchange Commission<\/a> in connection with a $1.7 billion crypto fraud scheme called \u201cHyperFund.\u201d Lee, along with associate Brenda Chunga, allegedly promoted membership packages with false promises of high returns from crypto mining and other activities.<\/p>\n Lee also faces U.S. charges for conspiracy to commit securities and wire fraud.<\/p>\n The post Former Director of Blockchain Global Liang Guo Detained in Australia<\/a> appeared first on Cryptonews<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Authorities recently barred Liang Guo, the former director of the now-defunct Australian cryptocurrency firm…<\/p>\n","protected":false},"author":0,"featured_media":25727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-25726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/posts\/25726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/comments?post=25726"}],"version-history":[{"count":0,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/posts\/25726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/media\/25727"}],"wp:attachment":[{"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/media?parent=25726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/categories?post=25726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marketmakersjournal.com\/wp-json\/wp\/v2\/tags?post=25726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Liang Guo Grounded In Australia
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\nThe court has mandated that Guo surrender all passports he owns, prohibiting him from departing or attempting to leave Australia until August 20.<\/p>\nBlockchain Global<\/h2>\n
\nFailed crypto firm Blockchain Global collapsed in early 2020 and still owes creditors $37 million.<\/p>\n