Taiwanese Singer Nine Chen Faces Charges for Alleged Fraud Involving Hong Kong’s JPEX Exchange
Taiwanese singer, Nine Chen, also known as Chen Lingjiu, is currently 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, equivalent to approximately NT$10 million, from a Hong Kong businessman to serve as a spokesperson for JPEX in Taiwan.
Chen, along with four other co-defendants, is now facing charges that include aggravated fraud and violation of banking laws. This case has attracted attention due to the involvement of high-profile individuals and the substantial financial losses suffered by victims.
The legal troubles for Chen began when he was brought before the Taipei District Prosecutor’s Office to face charges of aggravated fraud and violations of banking laws.
The investigation has also identified four co-defendants: Zhang Dongying, a prominent 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 an unexpected turn when the Da’an Bureau in Taipei City uncovered an illegal Texas Hold ’em poker operation, resulting in the arrest of 26 individuals, including Chen. He was found in a guesthouse connected to JPEX’s Taiwan office. These discoveries further link Chen to the fraudulent activities associated with JPEX.
Despite the allegations, Chen expressed confidence that the judiciary will ultimately clear his name.
Prior to this incident, JPEX has already come under scrutiny from the Hong Kong Securities Regulatory Commission, which identified it as a fraudulent entity responsible for defrauding investors of HK$1.58 billion (approximately NT$6.5 billion).
With JPEX’s office located in Taipei City, numerous Taiwanese investors have filed lawsuits after suffering significant financial losses.
The investigation also exposed the role of Zhang Dongying, a well-known internet celebrity within the cryptocurrency community. Zhang founded BITFUN, a platform aimed at educating people about blockchain technology, and was later recruited by JPEX as their chief partner in Taiwan. Her endorsement of JPEX led many investors to trust the platform, only to experience substantial financial losses. Following the revelation of the JPEX case, Zhang was detained by the court and prohibited from having any contact with others, 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. Chen Zhihan, known as “Curator,” served as the head coach for the event.
The Bureau of Investigation suspects that JPEX utilized such events to recruit young individuals. Chen Lingjiu’s involvement in these promotional activities further implicates him in the fraudulent scheme.
Based on the evidence gathered, the Bureau of Investigation has charged Chen Lingjiu with aggravated fraud, marking a significant development in this high-profile case.
