Former chairman and lawyer of Jianyi Law Firm, Wang Chenhuan, suspected of aiding fraud and money laundering, has had his bail increased to 8 million and his freedom restricted.

A prominent lawyer in Taipei, Wang Chen-huan, is facing charges for allegedly assisting a fraud ring in selling so-called "shitcoins" and engaging in other fraudulent activities. Wang has been indicted by the Taipei District Prosecutors Office on several serious charges, including money laundering and organized crime. Faced with these allegations, Wang not only had to end his career in the legal profession but also faces harsh legal consequences. This incident once again highlights the potential risks in the cryptocurrency market and the ethical responsibilities of legal professionals.

Wang Chenhuan Admits Guilt in the Face of Serious Crimes, Citing Dire Financial Situation

According to the investigation by the prosecutor's office, lawyer Wang Chenhuan is suspected of assisting a fraudulent group in selling fake cryptocurrencies, involving amounts as high as hundreds of millions of New Taiwan Dollars. He insists on pleading guilty in court, stating that his financial situation is extremely difficult, to the extent that he cannot even pay his legal fees. Wang's financial difficulties have become a focal point in the trial, as he claims that all his assets have been seized, and he is under severe financial pressure.

ACE Exchange in Turmoil Again! Current head Wang Chenhuan detained, just clarified and now faces money laundering charges

Court Increases Wang Chenhuan's Bail to 8 Million New Taiwan Dollars, Imposes Multiple Restrictions

The Taipei District Court has imposed stricter conditions on Wang Chenhuan's bail, raising the bail amount from 4 million to 8 million New Taiwan Dollars, and requiring him to wear an electronic ankle monitor for the next 8 months. Additionally, the court has imposed restrictions on his travel, both domestically and internationally, as well as his place of residence, to prevent him from fleeing. These measures reflect the court's serious stance on the case and concerns about Wang's potential escape.

Continued Monitoring! Prosecutors seek to extend detention of Lin, head of the fraud group, and individuals involved in ACE Exchange

Insights into the Fraud Group and Wang Chenhuan's Legal Defense

Wang Chenhuan is accused of assisting Lin Genghong's fraud group in establishing a cryptocurrency trading platform and engaging in large-scale money laundering activities. He provided detailed information about some of the fraudulent activities in court and admitted guilt. However, the prosecution criticized his so-called confession as a strategic move to secure bail, questioning the extent and authenticity of his fraudulent activities.

Taichung Prosecutor's Office charges founder of ACE Exchange with fraud, involving over 300 million yuan in cryptocurrency transactions

Prosecutors: Increase in "social death" raises risk of flight

During the debate, prosecutors argued that Wang Chenhuan has reached a state of "social death," meaning that his professional career and social reputation have been irreversibly damaged. Therefore, the risk of his flight is very high, necessitating stricter bail conditions to ensure his appearance in court. This accusation has significant implications for Wang Chenhuan's future, affecting not only his personal life but also casting a long-term negative impact on his career.

First Hearing for ACE Fraud Case! Main suspect in the fraud group claims "innocence in issuing coins," satellite lawyer pleads guilty, and founder claims only a "managerial role"