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Former American businessman detained in Myanmar after alleged financial misconduct
TL;DR
Adam Castillo, former president of the American Chamber of Commerce in Myanmar, has been detained at Yangon International Airport following an investigation into suspicious financial transactions by ex-board members.
Key points
- Adam Castillo detained at Yangon International Airport
- Former president of the American Chamber of Commerce in Myanmar
- Investigation into suspicious financial transactions
- Associated with AGS Myanmar security firm
- Detention occurred upon his return to Myanmar
Mentioned in this story
Adam CastilloAmerican Chamber of Commerce in MyanmarAGS MyanmarYangon
FILE - U.S. and Myanmar national flags are decorated at University of Yangon's convocation hall in Yangon, Myanmar, Nov. 19, 2012. Gemunu Amarasinghe/AP
Gemunu Amarasinghe/AP
BANGKOK — The former president of the American Chamber of Commerce in Myanmar has been detained upon his return to Yangon after the organization said it was looking into suspicious financial transactions by ex-board members.
Adam Castillo, a founder and owner of the security risk management firm AGS Myanmar, was detained Thursday at Yangon International Airport, according to an associate who spoke on condition of anonymity, citing safety concerns.
Castillo's company told The Associated Press it was an "ongoing matter" and refused to comment further. Castillo did not respond to an email sent through his personal website.
The U.S. State Department said it was aware of reports that an American had been detained in Myanmar but could not comment further "due to privacy considerations."
Myanmar's military-backed government hasn't released any official statement. The government, the Yangon regional government office and the Yangon Regional Police Department did not answer requests for comment. Authorities in Myanmar, in the midst of civil war, rarely speak to international media.
But several outlets close to the military, including NP News, reported that Castillo had been arrested after the American Chamber of Commerce filed a complaint against him. He was president of the organization from 2023-2025.
Asked about the complaint, the chamber's executive director, Myat Phyu The, said she could not give details but said the organization's May 29 annual report "covers the issue at hand." The organization promotes American businesses.
The report says the current board last year uncovered suspect transactions "undertaken by former board representatives" and referred the matter to a law firm for review.
Investigators discovered that "a former board representative" had signed a contract in November 2024 with a Washington-based public relations firm, which paid him $300,000 that was "apparently collected and disbursed outside AMCHAM Myanmar's accounts."
Q&A
What led to Adam Castillo's detention in Myanmar?
Adam Castillo was detained due to an investigation into suspicious financial transactions involving ex-board members of the American Chamber of Commerce in Myanmar.
Who is Adam Castillo and what is his background?
Adam Castillo is the founder and owner of AGS Myanmar, a security risk management firm, and previously served as president of the American Chamber of Commerce in Myanmar.
What are the implications of Castillo's detention for American businesses in Myanmar?
Castillo's detention may raise concerns among American businesses operating in Myanmar regarding financial oversight and the regulatory environment.
When was Adam Castillo detained and where?
Adam Castillo was detained on Thursday at Yangon International Airport upon his return to Myanmar.
