The Court of Appeals (CA) of the Philippines has issued an order freezing all bank accounts and assets of suspended Mayor Alice Guo of Bamban City in Tarlac Province over her alleged ties to illegal Philippine Offshore Gaming Operators (POGOs).
Bilyonaryo disclosed details of the CA’s 61-page resolution, which came in response to a petition filed by the Anti-Money Laundering Council (AMLC). The document orders the freezing of 90 bank accounts linked to Guo and his business partners, 12 real estate properties in Las Pinas, Bulacan and Tallac, and 13 vehicles, including a Robinsons helicopter worth P60 million. The freezing period is 20 days.
The assets include bank accounts held by Guo's business partners in Baofu Land Development Inc., as well as bank accounts associated with POGO Zun Yuan Technology Inc. and Hongsheng Gaming Technology Inc. Both POGOs operate in a large complex owned by Guo in the small town of Bamban.
In 2023, Hongsheng was raided by authorities and subsequently replaced by Zun Yuan, who was eventually shut down in 2024 on suspicion of human trafficking and serious illegal detention.
In order to prevent funds and assets from being transferred, hidden or removed from the control of law enforcement, the CA believes that issuing a freezing order is “appropriate and sensible”.
The Court of Appeals decision was drafted by Associate Judge Florencio Mamauag Jr. and concurred by Associate Judges Louis P. Acosta and Maximo M. De Leon. Proceeds from the illegal activities were funneled through multiple bank accounts of interconnected individuals and companies, the ruling revealed.
Of the 90 frozen accounts, 31 were in Guo's name and 5 were joint accounts. In addition, 12 real estate properties, 12 vehicles and a helicopter were also frozen. Bilyonaryo's report detailed bank accounts linked to the controversial mayor, showing total banking transactions in these accounts amounted to P28 billion.
Guo has experienced significant increases in bank account cash flow and transactions since 2014, with transaction volumes increasing significantly in 2020 despite the economic downturn caused by the COVID-19 pandemic. In 2020 alone, Guo wrote checks totaling P1.255 billion, which coincided with the construction of a building in Baofu in Bamban.
Although Guo transferred her shares in Baofu in 2021 to Jack L. Uy, who in turn transferred the shares to Bernard Chua, the Anti-Money Laundering Commission's investigation showed that she retained a controlling interest in the company. This conclusion is based on licenses issued by the Bamban local government in 2021 and 2022, which list Guo as the owner of Baofu.
Under Section 10 of the Anti-Money Laundering Act 2001 (AMLA), the CA has the power to issue a freezing order upon establishing reasonable cause that any monetary instrument or property is linked to illegal activities.
Alice Guo now faces serious legal consequences. The Senate has charged her with contempt of court and a warrant will be issued for her arrest.
