Alice Guo, in her statements before she disappeared to evade a Senate arrest warrant, claimed she divested all of her shares in a real estate company called Baofu Land Development Incorporated (Baofu) when she won as mayor of Bamban, Tarlac in 2022. It turns out that wasn’t true, according to court documents. “Before I ran for public office, I already divested,” Guo told ABS-CBN anchor Karen Davila in her first and so far only sit-down interview since the Senate blew the lid open on her links to a Philippine offshore gaming operator in Bamban that was found to have trafficked and tortured workers.
Baofu is the real estate firm that Guo co-incorporated in 2019 with foreign fugitives Lin Baoying, Zhang Ruijin, and Zhiyang Huang. Baofu leased its land in Bamban to Hongsheng Gaming Technology Inc., later renamed Zun Yuan Technology, a POGO.
But according to a document from a Tarlac City court, Guo’s September 21, 2021 deed of assignment transferring her Baofu shares to Quezon City-based businessman Jack Uy was “spurious and simulated.” The Court of Appeals (CA) resolution that froze her assets said “Alice Guo never ceased to be a stockholder for Baofu” even after she won the mayorship of Bamban in 2022. “Despite Guo’s glaring attempt to conceal her business interest with Baofu, her subsequent acts would readily reveal that she never actually divested her shares and still owns the controlling interest of Baofu,” said the CA resolution.
Guo maintained in her c.