Just a few weeks after attending a press conference to respond to his endorsement of the fraudulent platform JPEX as “very credible,” singer Chen Lingjiu has reportedly been secretly questioned by the Investigation Bureau on charges of fraud. The case has been transferred to the Taipei District Prosecutors Office for further investigation. Whether Chen Lingjiu will be transferred from a witness to a defendant will depend on the evidence gathered.
According to previous reports, as of October 4th, the JPEX case has resulted in the arrest of 20 individuals and 2,523 complainants in Hong Kong, involving approximately HKD 1.55 billion (approximately TWD 6.392 billion).
In Taiwan, the Financial Supervisory Commission (FSC) has confirmed that it has received reports accusing JPEX of illegal solicitation and provision of evidence. The FSC has forwarded the information to the judiciary for investigation. Due to the significant number of victims in Taiwan and the total amount involved reaching tens of millions of dollars, the Taipei City Investigation Bureau recently secretly questioned the well-known singer Chen Lingjiu, who was responsible for endorsing the platform. The case has been transferred to the Taipei District Prosecutors Office for further investigation, and the process has been kept strictly confidential.
According to a report by United Daily News, Chen Lingjiu was questioned by the Investigation Bureau as a witness. Chen Lingjiu claimed that the whole incident was arranged by Liu Boliang, a manager at Rolling Stones Records, and that he was only responsible for endorsement. He also stated that he himself was a victim and whether Liu Boliang would be questioned by the Investigation Bureau is still under evaluation.
During the investigation, it was discovered that Chen Lingjiu’s endorsement fee for JPEX was in the eight figures, significantly higher than the market rate and our previous estimate of TWD 3 million per year. Although Chen Lingjiu stated that his cooperation with JPEX ended in late July 2023 and all related promotional materials were taken down, he personally suffered a loss of 10-15% of his assets in the JPEX incident. However, since the JPEX case broke out, the company located near Taipei’s East District SOGO has disappeared, leaving Taiwanese victims with no way to seek compensation other than giving statements to the Investigation Bureau.
Whether Chen Lingjiu was completely unaware of the situation remains to be clarified, and whether he will be transferred from a witness to a defendant will depend on the evidence gathered.
Related reports:
(JPEX announces transformation into a DAO, Hong Kong police: 20 arrests made, involving over HKD 1.5 billion)
(Is there zero action against JPEX in Taiwan? JPEX allocates tens of millions of dollars in budget in Taiwan, and spokespersons and sponsored media are profiting)
(First interview with JPEX spokesperson Chen Lingjiu: I am very credible)
JPEX
Chen Lingjiu
Further reading:
JPEX Case: Chen Lingjiu listed as a defendant in the investigation, Tony Zhang Dongying released on bail with a deposit of TWD 1.5 million, restricted from leaving the country
JPEX Taiwan partner Tony Zhang Dongying and others questioned, Chen Lingjiu becomes a defendant, investigation focuses on illegal fundraising.