The Former Director of Blockchain Global Limited Faces Travel Restraint Orders
The Australian Securities and Investments Commission (ASIC) has obtained travel restraint orders against Liang Guo, also known as Allan Guo, the former director of defunct Blockchain Global Limited. The federal court in Australia has ordered that Guo may not leave or attempt to leave the country until August 20, 2024. This decision was made following concerns from ASIC that Guo may try to flee the country. Guo is currently under investigation by ASIC, along with former Blockchain Global directors Samuel Xue Lee and Zijang (Ryan) Xu, after the collapse of ACX Exchange, a crypto exchange operated by Blockchain Global.
Travel Restraint Orders Imposed on Liang Guo
Australia’s federal court has issued travel restraint orders against Liang Guo, the former director of Blockchain Global Limited. These orders prohibit Guo from leaving or attempting to leave the country until August 20, 2024. The Australian Securities and Investments Commission (ASIC) raised concerns about Guo potentially leaving the country amid an ongoing investigation into his involvement with ACX Exchange, a crypto exchange operated by Blockchain Global.
Background: Collapse of ACX Exchange
Blockchain Global Limited operated ACX Exchange from January 2016 to December 2019. However, the exchange collapsed, leading to an investigation by ASIC. On February 11, 2022, liquidators were assigned to Blockchain Global and subsequently filed a detailed report highlighting potential breaches of Australia’s Corporations Act 2001 on November 1, 2023.
Investigation and Court Proceedings
Liang Guo, along with former directors Samuel Xue Lee and Zijang (Ryan) Xu, is currently under investigation by ASIC following the collapse of ACX Exchange. ASIC is examining their involvement in the operation and management of the exchange to determine if any breaches of the Corporations Act 2001 were committed. The next court date for this case is scheduled for March 12, 2024.
Hot Take: Former Director of Blockchain Global Limited Faces Travel Restrictions
The former director of Blockchain Global Limited, Liang Guo, has been hit with travel restraint orders by the Australian Securities and Investments Commission (ASIC). These orders prevent Guo from leaving the country until August 20, 2024. The move comes as ASIC investigates Guo’s involvement in the collapse of ACX Exchange, a crypto exchange operated by Blockchain Global. Alongside Guo, former directors Samuel Xue Lee and Zijang (Ryan) Xu are also under scrutiny. The next court hearing for this case is set for March 12, 2024.
By
By
By
By
By