The controversy surrounding the JPEX cryptocurrency exchange scam in Hong Kong shows no signs of abating. Hong Kong police had previously arrested numerous over-the-counter traders and related celebrities and KOLs associated with JPEX.

The Financial Supervisory Commission (FSC) of Taiwan has also received reports from the public alleging that JPEX is involved in fraud and illegal solicitation of financial services. Today (the 8th), the FSC of Taiwan has taken further steps to broaden the investigation and has summoned individuals involved for questioning.

Latest Actions from the FSC of Taiwan

According to information from investigative agencies, the Taipei City Investigation Bureau mobilised nine teams to conduct investigations at multiple JPEX offices.

It is currently reported that the prosecutor's office has summoned four individuals, including a male surnamed Zhang, the chief partner of JPEX in Taiwan, to provide explanations.

Social media rumours suggest that this individual may be the founder, known by the online aliases 跳跳虎 Tony, the founder of BitFun, along with three of his executives.

In the future, the prosecutor's office will conduct a broader investigation based on charges related to violations of banking laws, money laundering, fraud, and other offences.

However, in response to these rumours, 跳跳虎 Tony from Bitfun posted a statement on Instagram today, saying,

"Regarding the comments made by some media and self-media creators, which have led to misunderstandings, it has actually resulted in harm to 跳跳虎 Tony's reputation. In light of this, he has indeed collected evidence and sought legal advice. If necessary, legal action will be taken."

Not Worried About Being a Defendant

On the other hand, Taiwanese former JPEX spokesperson Nine Chen attended an event on October 16th and responded, stating that he truthfully provided all the information he knew.

He also expressed that he's not worried about potentially being turned into a defendant.

He told reporters,

"I went to the Investigation Bureau and the District Prosecutor's Office two weeks ago to cooperate and give my statement about the whole incident in the capacity of a witness. In this entire event, my role is specifically related to endorsement."

(Source: Yahoo New)

In a previous media interview, he stated,

"Even though I received an endorsement fee, my investment in this platform exceeds the endorsement fee."

He revealed that he suffered a loss of about 15% in his assets, and he gained a valuable lesson from it. He mentioned that in the future, he will be very cautious in selecting endorsement activities to avoid making the same mistake again.

Assisting in the Investigation; Being Turned into a Defendant

The Taipei District Prosecutors Office summoned Mr. Zhang, the Chief Partner of JPEX Taiwan, for questioning on the 8th.

Subsequently, they decided to detain him and prohibit visitation. It is reported that some affected individuals have made allegations against the celebrity endorser Nine Chen, accusing him of involvement in financial scams, violations of banking laws, and fraud.

Since the Northern Prosecutors Office recently received reports from investors, it will be summoning Mr. Chen to provide an explanation in the capacity of a defendant.

Response from Nine Chen

Regarding this matter, Chen Nine issued a statement through his agent today (the 9th). He responded,

"We have already explained the part about the public's complaint at the police station last week and provided all evidence to the police. Due to the confidentiality of the investigation, we cannot disclose any related information. We will continue to cooperate with the prosecutor's investigation and hope that the truth of this incident will come to light as soon as possible."