Australian Regulator Asic Suees Ex-Blockchain Global Director for Mishandling ACX Exchange’s Funds
Allan Guo, the former director of the closed Blockchain Global, will face the Australian court proceedings due to allegations that he is destroying the customer funds of the Crypto Exchange ACX, operated by the blockchain global.
The Australian Securities and Investments Commission (ASIC) has brought civil penalties to the federal court against Guo and his involvement in the operation of the ACX exchange, which collapsed in December 2019, leaving customers in the darkness and unable to remove funds.
“ASIC allegations against Mr. Guo are associated with his deal with ACX exchange customer funds, statements made about dealings and obligations to maintain valid books and records,” the regulator said in a post on Wednesday.
Investigations continued since Blockchain Global collapsed in 2019. Liquids have been found in the proceedings that occurred from 2022 that the company Among the creditors from the ACX exchange.
Guo reported to leave Australia in September 2024, after traveling restraint against him Expired in August. Travel restraint was placed in the area in February last year when ASIC said it was investigating the GUO and two other directors from Blockchain Global, Samuel Xue Lee and Zijang (Ryan) XU regarding their participation in the collapse of the ACX exchange.
