The Philippine police are working with the Anti-Money Laundering Council (AMLC) and several government agencies to investigate the kidnapping and murder of Chinese businessman Guo, involving a large amount of money movement. Preliminary investigations suggest that there might be a cryptocurrency laundering chain behind the case, totaling up to 200 million pesos, which is key to solving the case.
Philippine National Police (PNP) spokesperson Brigadier General Jean Fajardo stated that the police are vigorously tracking the related cryptocurrency transactions, which are suspected to be a variant of the "ransom" payment method, transferred overseas in batches.
"The kidnappers initially demanded a ransom of 20 million US dollars, but our transaction records show that the actual funds transferred were about 200 million pesos in cryptocurrency assets. These transactions are highly secretive and are likely intended to conceal the real beneficiaries." — Brigadier General Fajardo
Cryptocurrency tracing is challenging, police rely on multi-agency cooperation
Due to the involvement of virtual assets, the police stated that the case investigation faces significant challenges. The anonymity and cross-border nature of cryptocurrency make it harder to trace the flow of funds.
"We are working closely with the AMLC and also coordinating with the National Bureau of Investigation (NBI) and diplomatic channels, utilizing all available resources to trace the real flow of this money," added Fajardo.
Case reclassified: Not kidnapping for ransom, but "premeditated murder"
The police also confirmed that after Guo and his driver Armanie Pabilo were found murdered on March 29, the nature of the case was adjusted from "kidnapping for ransom" to "premeditated murder."
"The clues we have indicate that financial extortion was not the core motive of this case. It appears more like an organized, premeditated act of silencing. However, at the request of Guo's family, we are currently unable to disclose more details," Fajardo stated.
Two Chinese nationals still at large, manhunt continues
According to the information held by the police, at least two Chinese suspects are still at large. One of them is a Chinese woman who met with Guo before the incident, both identified as masterminds.
Three suspects have been arrested, one surrendered claiming "threatened to participate"
The police have arrested three suspects. On April 19, Filipino nationals Richardo Austria David and Raymart Catequista were arrested, and another Chinese suspect, David Tan Liao, voluntarily surrendered to the police.
Liao claimed that he was forced to participate in the kidnapping after being threatened by the mastermind, and the police are currently verifying his statement.
PNP establishes a special investigation team, fully pursuing the mastermind
PNP Chief General Rommel Francisco Marbil has ordered the establishment of a special investigation team, led by Lieutenant General Alan Edgar Okubo, to investigate.
The goal is to quickly identify the mastermind, capture the fugitives, and clarify the entire money chain and command system.
Victim's family and anti-corruption groups express gratitude
Guo's family, through their attorney Mei Go, expressed gratitude for the swift action of the police.
"We appreciate the professionalism shown by law enforcement, and also the high attention from President Marcos. We believe that the truth will eventually come to light." — Attorney Mei Go
The anti-crime and anti-corruption organization (VACC) also issued a statement, affirming the actions of the PNP special investigation team, stating that this investigation will be a key point in the public's rebuilding of confidence in the judicial system.
