Tony Zhang Dongying, a partner of JPEX in Taiwan, and others were summoned for questioning, with Chen Ling Jiu being turned into a defendant, in the investigation of alleged fundraising activities.

The Hong Kong Securities and Futures Commission has named the non-compliant exchange "JPEX," which has received reports from 2595 investors to date, involving a total amount of 1.58 billion Hong Kong dollars, equivalent to about 6.5 billion New Taiwan dollars. "JPEX" this year in Taiwan has employed celebrity spokespersons such as Chen Ling Jiu, boxing matches, investment influencers, and media with substantial budgets. The Taipei District Prosecutors Office has directed the Investigation Bureau Taipei City Investigation Division to conduct ongoing investigations.

JPEX Registered Responsible Persons Summoned, Investigation Shifts towards Banking Law

According to reports, the Taipei District Prosecutors Office directed the Taipei City Investigation Bureau to summon Taiwanese spokesperson Chen Ling Jiu in early October as a witness. Following this, they have traced out the true identities of Taiwan's chief partner Zhang Dongying and 3 other executives.

Is Taiwan cracking down on JPEX? JPEX has allocated millions of dollars in Taiwan, with spokespersons and sponsored media making hefty profits

On 11/8, the Investigation Bureau conducted searches at 9 locations and detained "JPEX Taiwan's chief partner Zhang Dongying" as a defendant, as well as "JPEX Taiwan's senior lecturer Shi Yu", Liu Jianfu who described themselves as marketing personnel of an advertising company with no work relationship with JPEX, and "JPEX Taiwan's registered responsible person Niu Gengsheng". The case is being investigated under the direction of the "Banking Law".

In cases related to exchanges under the Banking Law, it often involves "fundraising".

Legitimacy of Steaker investment in question? Illegal fundraising judgments will have a significant impact on Taiwan's cryptocurrency regulations!

Chen Ling Jiu becomes a defendant, to appear for questioning in the future

As for Chen Ling Jiu, since there are victims filing complaints against him, the Taipei District Prosecutors Office will reclassify his identity as a defendant, and he will be summoned for questioning in the future.

According to reports, after the summons, Taiwan's JPEX registered responsible person Niu Gengsheng was allowed to leave, and the individuals involved in the case, Liu Jianfu, posted bail of NT$50,000, while the senior lecturer Shi Yu and Taiwan's chief partner Zhang Dongying are still being questioned by the prosecutor.