Taiwanese prosecutors have identified two new suspects in the ongoing investigation of the JPEX scandal. Chang Tung-Ying, the chief partner of JPEX’s Taiwan Office, and JPEX lecturer Shih Yu-sheng are now under scrutiny for alleged fraud. The Taipei District Prosecutors Office has formally requested their custody, citing violations of the Banking Act and the Money Laundering Control Act. The charges are related to violations that have shaken the cryptocurrency exchange landscape. Nine Chen, a Taiwanese celebrity and former JPEX brand ambassador, has also been summoned by prosecutors and is now named as a defendant in the case. JPEX, which remains unregistered with the Financial Supervisory Commission for AML compliance, halted its services in September 2023 due to a liquidity crisis triggered by alleged unfair treatment from Hong Kong institutions. Hong Kong authorities have launched an investigation into the JPEX scandal, and at least 11 suspects have been arrested so far. However, the alleged masterminds behind the scandal are still at large. Financial regulators in Hong Kong, Taiwan, and other jurisdictions are taking swift action to protect investors.

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Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	negative
Relevance Score	1
People	Chang Tung-Ying, Niu, Nine Chen, Liu, Shih Yu-sheng
Companies	Hong Kong authorities, JPEX, Financial Supervisory Commission, Taipei District Prosecutors Office, SFC
Currencies	None
Securities	None