Complaints for 87 counts of money laundering totaling P7 billion have been filed against former Bamban mayor Alice Guo, her sister Shiela, business partner Cassandra Li Ong, and 33 others by the Anti-Money Laundering Council (AMLC) and other government agencies.
The case alleges that Guo and her associates laundered illicit funds through various corporations, ultimately benefiting the real estate firm Baofu Land Corp. linked to illegal POGO operations.
The investigation revealed that Guo’s group amassed over P101 million in illegal proceeds, which were funneled through complex corporate layers to obscure their origins.
A freeze order on Guo’s assets, including bank accounts and luxury properties, has been extended until January 2025.
Guo’s lawyer denies allegations of false statements regarding her whereabouts but admits uncertainty about her current location.
Source : PhilNews24 | August 31, 2024
