According to a previous report by Zombit, two individuals surnamed Pan and Lin, former executives of the Taiwanese cryptocurrency exchange “ACE Elite Exchange,” were suspected of crimes including fraud, money laundering prevention, and banking laws, and were referred to the authorities for prosecution. At that time, ACE Elite Exchange issued a statement emphasizing that the individuals involved were no longer in senior positions in the company and that the company’s legal affairs were now handled by Wang Chenhuan, the managing partner of the Jianye Law Firm.
However, according to the Liberty Times, after analyzing relevant criminal information, the prosecutors and police launched a second round of investigation on January 22nd and found that Wang Chenheng, the head of ACE Elite Exchange, was also heavily implicated. As a result, the Taipei District Prosecutor’s Office commanded the New Taipei City Criminal Police Brigade, the Taipei City Investigation Division of the Investigation Bureau, and the Jiaoxi and Su’ao Sub-Bureaus of the Yilan County Police Department to detain a total of 5 individuals, including Wang Chenheng, on charges of money laundering and fraud. After a preliminary hearing, considering the risk of escape, collusion, and repeat offenses, all 5 individuals were remanded in custody and denied visitation rights.
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