American Business Leader Detained in Yangon Over Alleged Financial Irregularities

BANGKOK — Adam Castillo, founder and owner of security risk management firm AGS Myanmar and former president of the American Chamber of Commerce in Myanmar (AMCHAM Myanmar), was detained on Thursday at Yangon International Airport upon his return to Myanmar.

Castillo’s company described the incident as an “ongoing matter” and declined further comment. He did not respond to an email sent through his personal website.

The U.S. State Department confirmed it was aware of reports of an American detained in Myanmar but offered no additional details for privacy reasons.

Myanmar’s military‑backed government, the Yangon regional office, and the Yangon Regional Police Department have not issued statements or responded to inquiries. Authorities in the conflict‑ridden country rarely speak to international media.

According to outlets linked to the military, Castillo’s arrest followed a complaint filed by AMCHAM Myanmar. He served as the chamber’s president from 2023 to 2025.

AMCHAM Myanmar’s executive director, Myat Phyu The, declined to provide specifics, noting that the chamber’s May 29 annual report addresses the issue. The report states that the current board uncovered suspect transactions by former board members and referred the matter to a law firm for review.

Investigators found that a former board representative signed a November 2024 contract with a Washington‑based public‑relations firm, receiving $300,000 that was allegedly handled outside AMCHAM Myanmar’s accounts. The contract exceeded the signing authority of individual board members and was never approved by the board. No funds, payments, or services were recorded by AMCHAM, and the matter was not disclosed to statutory auditors.

The report also mentions two unnamed former board members involved in the case but provides no further details on legal actions taken.

On June 12, the organization’s website stated that the board “has taken appropriate steps to safeguard the interests of the organization and its members.”

Myanmar has been engulfed in violence since the military ousted elected leader Aung San Suu Kyi in 2021, prompting widespread armed resistance and a surge in detentions of foreigners, especially journalists.

Founded in 2013, AGS Myanmar offers security services as well as commercial cleaning and pest control.

Castillo’s biography notes he is a former U.S. Marine officer who served in Afghanistan and currently chairs “Republican Overseas Myanmar,” an organization established in 2024 to advance “America First” policies in the region.

Social media posts show Castillo attended a business forum in Kuala Lumpur a day before his detention, where he promoted his memoir “Finding Our Voice,” which recounts his experiences in Myanmar amid political turmoil and economic collapse.

The role, if any, his book played in his arrest remains unclear.

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