SINGAPORE (ANN/STRAITS TIMES) – The Philippine Senate is investigating Alice Guo, the mayor of Bamban in Tarlac province, for her alleged connection to a SGD3 billion money laundering case in Singapore. Guo, who reportedly owns 16 vehicles and a helicopter, is linked to two Chinese nationals, Zhang Ruijin and Lin Baoying, who were arrested and charged in Singapore for money laundering and forgery.
In 2019, Guo, along with Zhang, Lin, Philippine national Rachel Joan Malonzo Carreon, and Cypriot national Huang Zhiyang, founded Baofu Land Development. The company is accused of establishing a compound in Bamban that allegedly housed illegal scam operations. Zhang has been sentenced to 15 months in jail in Singapore, while Lin faces multiple charges and is expected to plead guilty soon.
Guo, during the Senate hearing led by Senator Risa Hontiveros, denied any knowledge of her business partners’ criminal activities, claiming she divested from the company in 2022 before her mayoral run and had never communicated with the couple, only with Huang, who is now a fugitive.
The Baofu Land Development compound, located near the Bamban Municipal Hall, comprises various structures including barracks, villas, an Olympic-sized swimming pool, and a secret tunnel. The compound was allegedly used for fraudulent cryptocurrency investment scams under the guise of a legitimate Philippine offshore gaming operator, Hongsheng Gaming Technology Incorporated. This site was raided by authorities in February 2023.
