Mars Finance News, according to Cointelegraph, the Australian Securities and Investments Commission (ASIC) has filed a civil lawsuit against Allan Guo, former director of Blockchain Global, alleging violations of director duties. Specifically, these include: mishandling customer funds at the ACX exchange; making false statements about fund flows; and failing to maintain proper financial records. The ACX exchange collapsed in December 2019, with liquidators' investigations revealing the company owed unsecured creditors 58.6 million Australian dollars (approximately 37.7 million USD), of which 22.7 million Australian dollars (approximately 14.6 million USD) were customer exchange funds. ASIC stated that Guo left and did not return after his travel restrictions expire in September 2024. The agency is separately appealing to overturn a lower court's favorable ruling for the crypto company Block Earner.
Australian regulator takes former Blockchain Global director to court
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