Taiwanese Singer Nine Chen Charged in Major Fraud Case Linked to Hong Kong’s JPEX Exchange

Taiwanese Singer Nine Chen Charged in Major Fraud Case Linked to Hong Kong’s JPEX Exchange

Taiwanese singer Nine Chen, also known as Chen Lingjiu, is embroiled in a significant fraud case connected to Hong Kong’s JPEX cryptocurrency exchange. On June 26, the Bureau of Investigation accused Chen of accepting 320,000 Tether coins (approximately NT$10 million) from a Hong Kong businessman to serve as JPEX’s spokesperson in Taiwan.

Chen, along with four other co-defendants, faces charges of aggravated fraud and violation of banking laws. This case has garnered significant attention due to the high-profile nature of those involved and the substantial financial losses reported by victims.

Connection Between Taiwanese Singer and JPEX

Chen’s legal issues began when he was sent to the Taipei District Prosecutor’s Office to face charges related to aggravated fraud and banking law violations. The investigation 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 escalated when Taipei City’s Da’an Bureau uncovered an illegal Texas Hold ’em poker operation, resulting in the arrest of 26 people, including Chen, who was found in a guesthouse linked to JPEX’s Taiwan office. These findings further tied Chen to JPEX’s fraudulent activities.

Chen has maintained his confidence that the judiciary will eventually clear his name.

Prior Scrutiny of JPEX

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

Located on Zhongxiao East Road in Taipei City, JPEX’s office has seen numerous Taiwanese investors file lawsuits after incurring significant financial losses. The investigation highlighted the role of Zhang Dongying, a prominent internet celebrity in the cryptocurrency community. Zhang, who founded BITFUN to educate people about blockchain technology, was later recruited by JPEX as their chief partner in Taiwan. Her promotion of JPEX led many investors to trust the platform, only to suffer considerable financial losses.

Following the exposure of the JPEX case, Zhang was detained and prohibited from seeing anyone, while Liu Jianfu was released on bail for NT$50,000.

Additionally, JPEX organized a high-profile “boxing on boxing” event at the Little Arena last July, featuring Hong Kong e-sports expert Chung Pei-sheng and Taiwanese internet celebrity Toyz. “Curator” Chen Zhihan served as the head coach for the event. The Bureau of Investigation suspects JPEX used such events to recruit young people. Chen Lingjiu’s involvement in these promotional activities has further implicated him in the fraudulent scheme.

Based on the accumulated evidence, the Bureau of Investigation has charged Chen Lingjiu with aggravated fraud, marking a critical development in this high-profile case.

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