TechFlow reported, according to The Block, that the Taipei District Prosecutors Office today detained two individuals responsible for JPEX operations on suspicion of fraud. A man surnamed Zhang, chief partner of JPEX's Taiwan office, and a man surnamed Shi, an affiliated instructor, were detained over allegations of violating banking laws and anti-money laundering regulations.
Prosecutors stated they directed the local Judicial Investigation Bureau to conduct searches at nine locations, followed by summoning four suspects. One suspect surnamed Liu was released on bail of 50,000 New Taiwan Dollars (1,550 USD), while another suspect surnamed Niu was released after interrogation. Reports indicate JPEX began promoting cryptocurrency-related products and soliciting investments starting in June.
In addition, Taiwanese singer Chen Lingjiu, who previously served as a brand ambassador for JPEX in Taiwan, appeared as a witness. However, if his involvement is confirmed, prosecutors may later summon him as a defendant. The scale and scope of JPEX's operations in Taiwan remain unclear, but local media reported that more than ten self-identified victims affected by JPEX have already filed related lawsuits.
