Taiwanese Singer Nine Chen Faces Charges for Alleged Fraud Involving Hong Kong’s JPEX Exchange

cryptonews.com:

Taiwanese singer Nine Chen, also known as Chen Lingjiu, has been implicated in a major fraud case linked to Hong Kong’s JPEX cryptocurrency exchange. The Bureau of Investigation accused Chen on June 26 of accepting 320,000 Tether coins (approximately NT$10 million) from a Hong Kong businessman to act as a spokesperson for JPEX in Taiwan.

Chen and four other co-defendants are now facing charges, including aggravated fraud and violation of banking laws. The case has drawn attention due to the high-profile nature of the individuals involved and the substantial financial losses reported by victims.

Chen’s legal troubles began when he was sent to the Taipei District Prosecutor’s Office to face charges of aggravated fraud and violations of banking laws.

The investigation has also named four co-defendants: Zhang Dongying, a notable figure in Taiwan’s cryptocurrency scene known as “Tigger Tony,” businessman Shi Yu, JPEX commercial tenant Niu Gengsheng, and Liu Jianfu, who facilitated JPEX’s partnership with the New Taipei Kings Basketball Team.

The case took a turn when Taipei City’s Da’an Bureau uncovered an illegal Texas Hold ’em poker operation. This resulted in the arrest of 26 people, including Chen, who was found in a guesthouse linked to JPEX’s Taiwan office. These discoveries further connected Chen to the fraudulent activities associated with JPEX.

Notably, Chen expressed confidence that the judiciary would eventually clear his name.

JPEX has been under scrutiny by the Hong Kong Securities Regulatory Commission, which has labeled it a fraudulent entity responsible for defrauding investors of HK$1.58 billion (approximately NT$6.5 billion).

With JPEX’s office located on Zhongxiao East Road in Taipei City, numerous