Chinese basketball star Guo Ailun has reportedly fallen victim to an investment scam orchestrated by a friend known as Tao. The scam involved a fictitious sports IP project under a cultural tourism fund, promising an annual return of 22%. Guo invested a total of 10 million yuan in four installments.
On the night the final installment was transferred, Tao cut off all communication, blocking Guo on WeChat, shutting down his phone, and deleting his Douyin account. Additionally, Tao's family restaurant was abruptly closed. Guo's funds were allegedly split into multiple transactions, converted into cryptocurrency, and transferred to an offshore shell company in Seychelles.
Chinese Basketball Star Guo Ailun Defrauded in Crypto Investment Scam
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