Spokesperson Immune! JPEX Platform Attracts NT$16.3 Billion Globally, Chen Ling-Jiu's Endorsement Case Not Prosecuted, Partner Jump Tiger Indicted

The JPEX cryptocurrency trading platform in Hong Kong has sparked widespread attention due to suspected fraud. Recently, the Taipei District Prosecutors Office has brought charges against its Taiwan partner and other related individuals, while spokesperson Chen Ling-Jiu has been cleared of prosecution.

The Rise of JPEX Cryptocurrency Platform

JPEX, established in 2020, claims to have a presence across Asia and Europe, offering various cryptocurrency trading services including Bitcoin. In its early days, the platform quickly gained popularity through celebrity endorsements from Hong Kong artists like Julian Cheung, writers, Lin Zuo, and social media influencers, as well as heavy advertising expenditures. However, the Securities and Futures Commission of Hong Kong discovered suspicious activities in 2022 and found that JPEX did not obtain any relevant trading licenses.

Is Taiwan Taking Action Against JPEX? JPEX Spends Millions in Taiwan on Endorsements and Media Sponsorships

Expansion to Taiwan and Extensive Marketing Campaign

In 2023, JPEX expanded to Taiwan, sponsoring the professional basketball team New Taipei Kings and leasing a commercial building on Zhongxiao East Road in Taipei, claiming to establish the largest "Blockchain Building" in Asia. Additionally, the platform spent NT$20 million inviting spokesperson Chen Ling Jiu and organizing the "Fist Up" event, inviting influencers to participate in a boxing match to increase platform visibility.

Unveiling the Interior of JPEX Blockchain Building, Beverage Shop Claims Innocence: We Are the Victims of JPEX

Investor Deception and Police Investigation

Starting from September 2023, investors were unable to redeem their principal and interest, leading to doubts about the authenticity of JPEX, prompting them to report to the police. Chief Prosecutor Yan Bo-Rong of the Northern District Prosecutors' Office commanded a large-scale search by law enforcement units in November 2023 to investigate JPEX's illegal activities in Taiwan. Chen Ling Jiu, as the spokesperson for the Taiwan region, initially cooperated as a witness in the investigation, but due to complaints from victims, he was eventually listed as a defendant.

Fears of Aggravated Fraud! Singer Chen Ling Jiu Endorses JPEX Scam, Receives NT$10 Million

Results of Taipei District Prosecutors' Investigation

After investigation, prosecutors concluded that JPEX attracted investors with promises of high profits and capital preservation, illegally absorbing 520 million USDT, equivalent to around NT$16.3 billion. The Taiwan partners, Zhang Dong-Ying "Jumping Tiger," the head of Block Help Co., Niu Geng-Sheng, and the Director of Business Development, Shih Yu, made profits totaling NT$11.84 million in Taiwan. The Taipei District Prosecutors' Office filed charges against the three individuals and requested the court to confiscate their illegal gains.

Chen Ling Jiu's Clarification and Non-Indictment Decision

Chen Ling Jiu's agent clarified that although the endorsement fee was agreed upon, the other party did not pay as agreed, leading to the termination of the collaboration as early as July. Chen Ling Jiu emphasized that he was also a victim, with approximately 15% of his assets invested in JPEX. Ultimately, the Taipei District Prosecutors' Office decided not to indict Chen Ling Jiu and nine others.