Former Director of Blockchain Global Liang Guo Detained in Australia
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.
The Australian Securities and Investments Commission (ASIC) announced on X, that it had secured an interim travel restraint order from the Federal Court of Australia against Liang Guo.
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-asset exchange operated by the company https://t.co/ZqojEQoLUK
— ASIC Media (@asicmedia) February 28, 2024
The court has mandated that Guo surrender all passports he owns, prohibiting him from departing or attempting to leave Australia until August 20.
The order was issued in Guo’s 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.
“ASIC applied for the travel restraint orders over concerns that Mr Guo may leave the country while it continues its investigation,” the regulator said.
The allegations against Guo “are very serious,” said Justice Catherine Button in the federal court judgment.
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.
Failed crypto firm Blockchain Global collapsed in early 2020 and still owes creditors $37 million.
Blockchain Global, the operator of ACX
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