THE Court of Appeals has issued a freeze order for the assets of suspended Bamban Mayor Alice Guo and other individuals allegedly involved in the illegal operations of Philippine offshore gaming operators (POGO).
The Anti-Money Laundering Council (AMLC) earlier sought the court’s permission to issue the freezer order against Guo, Zhiyang Huang, and Baoying Lin.
The freeze order issued by the CA on July 10, covered several assets, including 90 bank accounts across 14 financial institutions, several real properties, and high-value personal properties, such as luxury vehicles and a helicopter.
AMLC said the action aims to prevent the dissipation of assets while the investigation and legal proceedings continue.
“These individuals are suspected of orchestrating human trafficking and fraudulent activities through entities such as Zun Yuan Technology Inc., BAOFU Land Development Inc., and Hongsheng Gaming Technology Inc.,” AMLC said.
“The investigation uncovered significant financial transactions and assets amassed by these individuals as well as their involvement in money laundering, human trafficking, and other illicit operations,” it added.
According to AMLC, the illicit activities linked to these individuals and entities include the operation of an unauthorized POGO at Zun Yuan Technology Inc.
The investigation revealed that the company engaged in various illegal activities under the guise of POGO operations, including human trafficking, serious illegal detention, and online scam schemes.
It added that these operations were conducted within the premises of BAOFU Land Development Inc., which housed numerous workers, including trafficked individuals, who were forced to participate in fraudulent online activities.
“The Court of Appeals’ freeze order is a critical move in our fight against money laundering and related criminal activities. Freezing these assets protects the integrity of our institutions and shields the public from the harms of unlawful activities. Our persistent crackdown on illicit proceeds of criminal activities highlight our bid to protect the integrity of our financial system and ensures that those who perpetrate these crimes will not enjoy the proceeds,” said Matthew David, AMLC Executive Director.
AMLC assured that it remains committed to its mandate of combating money laundering and ensuring that the financial system is not used as a conduit for illicit activities.
The freeze order stemmed from a petition filed by the AMLC on July 9, 2024, under Section 10 of the Anti-Money Laundering Act of 2001. (PNA)
