Taiwan's "Financial Supervisory Commission": The amount involved in JPEX reaches tens of millions of New Taiwan dollars, and the spokesperson singer Chen Lingjiu has been interviewed
ChainCatcher news, Taiwan's "Financial Supervisory Commission" confirmed that it has received reports alleging that JPEX is illegally soliciting in Taiwan and providing evidence, and has forwarded the information to the investigation agency for further action. Due to the significant number of victims in Taiwan, the amount involved has reached tens of millions of New Taiwan dollars. After an investigation by the Taipei City Investigation Office, singer Chen Lingjiu, who was responsible for endorsements, was recently interviewed in secret, with the case being classified as fraud.JPEX has no business representative in Taiwan, and the investigation agency interviewed Chen Lingjiu (real name Chen Zhihao) as a witness. Chen Lingjiu stated that the entire matter was initiated by Rolling Stone Records' agent Liu Bai-liang, and he was only responsible for the endorsement, claiming to be a victim himself. It is still under evaluation whether the investigation agency will interview Liu Bai-liang. The investigation agency is looking into the fact that Chen Lingjiu's endorsement fee reached eight digits, far exceeding the general market rate. After the JPEX case broke out, the company located next to SOGO in Taipei's East District was found empty, with posters of Chen Lingjiu posted outside the building. Victims have no recourse for compensation and can only file a report with the investigation agency. Whether Chen Lingjiu was completely unaware of the situation remains to be clarified, and whether he will be changed from a witness to a defendant will depend on the evidence collected.The investigation agency estimates that JPEX has invested a large marketing budget in Taiwan, including spokespersons and media, with marketing costs reaching tens of millions. It will be further clarified whether this includes victim funds or illegal cash flows; the "Financial Supervisory Commission" pointed out that according to company law, if an overseas virtual trading platform is a foreign company and has not registered a branch office, it is prohibited from conducting business in Taiwan, with criminal and civil liability. Whether there has been a violation of money laundering laws will depend on whether JPEX has engaged in exchanges of New Taiwan dollars, foreign currencies, and other currencies.
