The Hong Kong Securities and Futures Commission (SFC) has named the non-compliant exchange “JPEX,” which has received 2,595 reports from investors so far, with the amount involved reaching HKD 1.58 billion (approximately TWD 6.5 billion). “JPEX” has deployed a significant budget in Taiwan this year, including endorsements from celebrity spokesperson Chen Lingjiu, boxing matches, investment influencers, and media outlets. The Taipei District Prosecutors Office has directed the Taipei City Investigation Bureau to conduct investigations.
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JPEX Registered Responsible Person Summoned for Investigation, Moving Toward Banking Law Investigation
Chen Lingjiu Becomes a Defendant, to Report in the Future
According to reports, the Taipei District Prosecutors Office, commanding the Taipei City Investigation Bureau, has traced the true identities of JPEX’s chief partner in Taiwan, Zhang Dongying, and three executives, after summoning Taiwanese spokesperson Chen Lingjiu as a witness in early October.
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Does Taiwan Take No Action Against JPEX? JPEX Earns Millions in Taiwan, Benefiting from Celebrity Endorsements and Sponsored Media
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On November 8th, the Investigation Bureau conducted searches at nine locations and interrogated “JPEX Taiwan’s Chief Partner Zhang Dongying” (Tiao Tiao Hu, Tony), “JPEX Taiwan Senior Lecturer Shi Yu,” Liu Jianfu (self-proclaimed marketing personnel of an advertising company, unrelated to JPEX), and “JPEX Taiwan Registered Responsible Person Niu Gengsheng” as defendants. The entire case will be investigated under the direction of the “Banking Law.”
As for Chen Lingjiu, since there are victims who have filed lawsuits against him, the Taipei District Prosecutors Office will now list his identity as a defendant and summon him to report in the future.
According to reports, after the summons, Niu Gengsheng, the registered responsible person of JPEX Taiwan, has been released. Liu Jianfu, a person involved in the case, has posted bail of NTD 50,000, while senior lecturer Shi Yu and chief partner Zhang Dongying are still being questioned by the prosecutor.
JPEX
Liu Jianfu
Zhang Dongying
Niu Gengsheng
Chen Lingjiu
Related Readings
JPEX Case: Chen Lingjiu Listed as Defendant in Investigation, Tony Zhang Dongying Posts Bail of 1.5 Million, Travel Restrictions Imposed
Chen Lingjiu on JPEX Endorsement Fee: Provided in Installments, Did Not Receive the Final Payment, Did Not Reach Eight Digits.