PUBLISHER’S NOTE AND METHODOLOGY STATEMENT
This report is based on public court records, official government communications, corporate records, chamber minutes, correspondence, federal disclosures and other documents reviewed by the publication. It distinguishes between facts documented in contemporaneous records, statements and allegations made by participants in the dispute, and matters that could not be independently established. Where records are incomplete, disputed or subject to competing interpretations, the article identifies those limitations. Quotations are attributed to the individuals or organizations from whom they originated. The article also distinguishes between the actions or statements of individual representatives and decisions formally attributable to their employers or affiliated corporate entities.
When Adam Castillo arrived at Yangon International Airport on June 11, 2026, after traveling from Malaysia, Myanmar authorities detained him, according to official statements and records reviewed for this report. He subsequently spent approximately 97 days in detention, including time at Insein Prison.
Castillo’s detention occurred after an internal dispute at the American Chamber of Commerce in Myanmar, known as AMCHAM Myanmar, concerning the proposed U.S.-Burma Economic Forum, a Washington advocacy initiative and an engagement involving the Washington-based public affairs firm Mercury Public Affairs. In formal communications, AMCHAM alleged that Castillo had improperly handled funds associated with the initiative. Castillo, through counsel and public statements, has denied wrongdoing.
The records reviewed by the publication include corporate documents, board minutes, correspondence, a signed board resolution and federal lobbying disclosures. Taken together, those records provide different accounts of the authorization, administration and financial arrangements surrounding the Forum. They do not, however, resolve every disputed issue.
Castillo, U.S. Marine veteran and founder and owner of AGS Myanmar, served as president of AMCHAM Myanmar from 2023 until May 30, 2025. During his tenure, he advocated continued commercial and diplomatic engagement between the United States and Myanmar, including through the proposed U.S.-Burma Economic Forum. He had also publicly argued that reducing Western commercial engagement could create additional room for China’s influence.
Myanmar’s political and diplomatic environment was highly sensitive during this period, following the country’s 2021 military takeover and subsequent military rule. Castillo’s views concerning commercial engagement form part of the background to the dispute. The records reviewed for this report do not establish that those views played a role in his subsequent detention.
At the center of the dispute was an initiative intended to establish the U.S.-Burma Economic Forum and conduct advocacy in Washington concerning American commercial interests connected to Myanmar. A November 1, 2024 resolution bearing AMCHAM Myanmar letterhead purports to record board approval of the initiative and to authorize Castillo to act on behalf of the chamber in connection with it.
The resolution states that the board granted Castillo:
“full authority to act on behalf of AmCham Myanmar in connection with the initiative.”
The resolution also refers to proposed sponsorship of the Forum by Misfit Technologies and the engagement of Mercury Public Affairs.
The status and validity of the document later became disputed. Myat Phyu The, who subsequently became AMCHAM Myanmar’s executive director, described the document as a “fabricated document.” That description is reported as her characterization. The publication has not independently determined whether the document was fabricated or otherwise resolved the dispute concerning its validity.
A recorded conversation following the detention of Castillo and Kyaw provides additional evidence concerning the disputed resolution. In the recording, Thadoe Hein, an AMCHAM Myanmar vice president and a person identified as a witness in the proceedings involving Castillo and Kyaw, acknowledges that the proposed lobbying engagement was discussed during an October 2024 board meeting. Hein also acknowledges the existence of the disputed November 2024 resolution and states that he signed it electronically.
The recording, obtained from a source within AMCHAM Myanmar, also captures Hein indicating that he intended to tell the chamber where the authorization document could be found.
The recording therefore provides evidence that Hein was aware of the disputed resolution and considered himself to have signed it electronically. It does not, by itself, establish the extent to which other members of AMCHAM Myanmar’s leadership were aware of the resolution, when they became aware of it, or what legal effect the document ultimately had.
Separately, a Misfit employee told reporters that Munimul Islam had signed the resolution. AMCHAM records and meeting materials reviewed by news organizations have also been reported as showing that the broader initiative had been discussed by, or was known to, members of the board. These accounts differ concerning the resolution’s preparation, authorization and legal effect. The publication has not independently determined the document’s ultimate legal validity or complete provenance.
The chronology is also relevant to AMCHAM’s subsequent records. Minutes from an AMCHAM Myanmar general meeting held on May 30, 2025, show Castillo presenting the U.S.-Burma Economic Forum to members. The proposal received 42 votes in favor and eight against.
Those minutes establish that the Forum was presented to the organization’s membership and subjected to a formal vote. They do not, standing alone, establish that every action associated with the Forum, including the Mercury engagement, satisfied all of AMCHAM’s internal authorization requirements. Nor do they resolve the later dispute concerning the November 2024 resolution.
The financial arrangements have also been described differently by the parties.
In formal communications, AMCHAM Myanmar alleged that Castillo had “illegally collected” approximately $300,000 associated with the Mercury engagement and “did not deposit these funds into the association’s bank accounts.” Those statements are reported as AMCHAM’s allegations and are not presented here as an independent finding that Castillo personally received or misappropriated the money.
AMCHAM’s subsequent annual report stated that the board had not approved the agreement, that AMCHAM Myanmar received no funds, made no payments and received no services under it, and that the matter was not disclosed to the organization’s statutory auditors. Those statements represent AMCHAM’s position and were part of the circumstances surrounding its referral of the matter to Myanmar authorities.
The payment records reviewed by the publication indicate a different financial pathway from the one that might be inferred from the allegation that Castillo personally collected approximately $300,000. The records indicate that approximately $300,000 in Mercury fees was paid directly by Misfit’s U.S. office to Mercury Public Affairs, rather than to Castillo personally or into an AMCHAM Myanmar bank account.
The available records indicate that the arrangement was affected by sanctions and Myanmar’s regulatory environment, which made direct international transactions complex. Mercury also reported lobbying activity and receipts to the U.S. government under the Lobbying Disclosure Act. Public reporting documented meetings in Washington involving Castillo and others.
These records do not resolve the separate question of whether the Mercury engagement was properly authorized by AMCHAM Myanmar. They do, however, provide documentary evidence concerning the parties involved in the payment and the lobbying activity associated with the engagement.
Castillo remained involved with the Forum after leaving the AMCHAM presidency. Correspondence reviewed by the publication indicates that he resigned from his remaining involvement in July 2025. In that correspondence, he stated that he had personally spent more than $100,000 on travel and operational expenses without reimbursement.
In subsequent communications with AMCHAM, Castillo also raised concerns regarding governance and asked that certain leadership members consider recusing themselves because of potential conflicts of interest. The records do not establish whether AMCHAM accepted those concerns. They do establish that Castillo raised them before the subsequent formal complaints and legal proceedings.
In September 2025, AMCHAM leadership circulated a proposal to retain outside legal counsel concerning alleged unauthorized fundraising. AMCHAM’s Governance Committee subsequently considered the matter.
Committee members included Nishant K. Choudhary of DFDL, Greg Hedger of the International School Yangon, Danny Kyaw, and Max Talcott of RMA Myanmar, who chaired the committee. The records reviewed by the publication do not contain a formal committee minute establishing a collective vote recommending the legal review.
Individuals familiar with the matter told the publication that Talcott personally suggested that counsel review the issue. In the absence of a recorded committee vote, this report does not characterize that account as a formal action of the Governance Committee.
The chamber subsequently retained Luther Law Firm Limited in Yangon, led by Alexander Bohusch. AMCHAM’s financial disclosures list $16,738.87 in legal expenses and $54,133.29 in internal consulting expenses during the relevant review period.
AMCHAM’s 2026 annual report stated that Luther concluded that the Mercury agreement had not been validly approved by the board. The publication has not reviewed Luther Law Firm’s confidential work product and therefore does not independently characterize or assess the firm’s underlying legal analysis.
In June 2025, Myat Phyu The stated:
“Attempts were made to meet and engage Adam to clarify the matter, particularly the alleged fundraising involving members and the activities of the Forum, but those efforts were unsuccessful.”
She also stated:
“none of the current Board members was aware that an agreement with Mercury existed.”
Contemporaneous correspondence reviewed by the publication shows communication between Castillo and executive director Danny Kyaw in June 2025 concerning the Forum’s Washington activities. The correspondence establishes that the Forum remained a subject of communication between Castillo and chamber executives during this period. It does not establish the extent to which other board members knew about the Mercury agreement or the November 2024 resolution.
In separate correspondence reviewed by the publication, Myat Phyu The wrote:
“Don’t let your apparent focus on our internal governance processes and a preoccupation with ‘allegations’ likely emanating from one aggrieved party divert you from the core misadventure and consequential but unsuccessful efforts to cover it all up.”
The statement is reported as an internal executive characterization. The publication has not independently established that a cover-up occurred. The quotation is included to document how the dispute was characterized internally at the time.
Statements given to investigators also indicate that Kyaw told authorities that he had provided a copy of the Mercury agreement to then-president Khin Maung Win in June 2025. That account has not been established by a judicial finding. The difference between the accounts concerning when the agreement was known to AMCHAM personnel remains unresolved in the records reviewed by the publication.
The dispute subsequently entered Myanmar’s legal system. Pabedan Township court records identify Myat Phyu The as the formal complainant and list AMCHAM board members as witnesses.
Castillo was detained at Yangon International Airport on June 11, 2026, and remained in custody for approximately 97 days. Former AMCHAM executive director Danny Kyaw was also detained. These events are documented through official proceedings and statements. They do not, by themselves, constitute judicial findings that either individual committed a crime.
The public judicial records reviewed for this report do not establish that Castillo was tried or convicted of financial misconduct or that a court determined that he personally misappropriated the approximately $300,000 at issue.
The records reviewed by the publication also do not establish that Castillo personally received the approximately $300,000 through cash, bank transfer or another documented payment mechanism. The allegation that he improperly handled the funds remains an allegation in the absence of a judicial finding establishing personal receipt or misappropriation.
Adam Castillo and Danny Kyaw declined requests for interviews and declined to comment for this report.
The reporting also examined the roles of corporate entities whose representatives served on the AMCHAM board.
Khin Maung Win, who served as AMCHAM president following Castillo, represented Myan Shwe Pyi Tractors, commonly known as MSP CAT, a Caterpillar-authorized dealer. The publication sought clarification from Caterpillar concerning Khin Maung Win’s reported U.S. travel, reported contacts with U.S. government officials and the company’s understanding of his activities during the relevant period.
Caterpillar did not respond to written inquiries. The absence of a response is not treated by the publication as evidence of wrongdoing. The records reviewed for this report do not establish that Caterpillar directed, approved or participated in the AMCHAM complaint or in the detention of Castillo.
Similarly, questions were submitted to Abbott Laboratories concerning representatives Tomasz Schwarz and Anirban Basu, who served on the AMCHAM board.
Basu stated that he stepped down in October 2024, was never informed of the Mercury agreement and that a search of his records yielded no relevant correspondence. Abbott did not respond to inquiries concerning board representation or whether the company conducted any internal review of the matter.
The publication found no documentary evidence establishing that Abbott Laboratories authorized, directed or participated in the criminal proceedings or in the internal AMCHAM dispute.
The corporate affiliations are relevant to understanding the composition of the AMCHAM board and the organizations represented by its members. Service by an individual on an association’s board does not, without additional evidence, establish that the individual’s employer directed or approved actions taken in that individual’s association capacity.
Castillo was released on September 16, 2026. Myanmar state media reported that he was deported “in consideration of the friendly relations between Myanmar and the United States.”
The official reports reviewed for this article did not state whether formal charges were withdrawn or brought to trial. Public reports confirm that U.S. officials traveled to Myanmar and that Castillo was released into U.S. custody.
The legal matter subsequently extended beyond Myanmar. Spanish authorities detained former AMCHAM board member and Misfit Technologies chief executive Munimul Islam while he was traveling with his wife, following an INTERPOL Red Notice requested by Myanmar.
Islam faces extradition proceedings in connection with allegations concerning the Mercury engagement. He has contested those allegations, stating:
“This is a fabricated case.”
An INTERPOL Red Notice is an international law-enforcement notification. It is not, by itself, a judicial determination of guilt or an extradition order. Its existence establishes that Myanmar authorities sought international law-enforcement cooperation; it does not independently establish the truth of the allegations underlying the request.
AMCHAM Myanmar has stated that decisions concerning formal charges, detention and legal findings rest with the relevant judicial and governmental authorities. That position reflects the distinction between the chamber’s role in making a complaint and the separate legal processes conducted by government authorities.
The records reviewed by the publication document a prolonged dispute concerning the authorization, governance and financing of the U.S.-Burma Economic Forum. They also document materially different accounts concerning the Mercury agreement, the November 2024 resolution and the extent of AMCHAM personnel’s knowledge of the arrangement.
The available public records do not resolve every disputed question. In particular, they do not establish that Adam Castillo personally received, diverted or misappropriated the approximately $300,000 at issue.
That distinction remains central to the documentary record: the existence of allegations and government proceedings is established; the ultimate truth of the disputed financial allegations has not been established by a public judicial finding reviewed by the publication.
Se Hoon Kim
Se Hoon Kim is the Managing Editor and White House Correspondent for Global Strat View. A U.S. Army veteran, he covers the White House, national security, foreign policy, and U.S. politics.
- Se Hoon Kim#molongui-disabled-link
- Se Hoon Kim#molongui-disabled-link
- Se Hoon Kim#molongui-disabled-link
- Se Hoon Kim#molongui-disabled-link
