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The Australian Securities and Investments Commission (ASIC) has filed civil charges against former Blockchain Global director Liang Guo for allegedly misusing over $20 million in ACX customer funds. The case follows years of regulatory scrutiny, including a halted IPO and a liquidator’s report confirming fund mismanagement. Guo’s co-director, Sam Lee, faces separate U.S. charges for a $1.89 billion Ponzi scheme.
- ASIC alleges Liang Guo misused $20M+ in ACX customer funds and failed to maintain proper financial records during his tenure at Blockchain Global.
- Co-director Sam Lee was charged in the U.S. in January 2024 for allegedly orchestrating a $1.89B Ponzi scheme through HyperFund and HyperVerse.
- Liquidators found ACX customer funds were co-mingled with company assets and funneled into related entities, with $22.7M owed to users.
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Other Tags: Alameda Research, ASIC