JPEX scandal: Taiwan determines new suspects in alleged fraud — Report
The saga of the imploded cryptocurrency exchange JPEX continues to develop as Taiwanese prosecutors have reportedly found new alleged suspects.
The Taipei District Prosecutors Office (TDPO) requested Chang Tung-ying, the chief partner at JPEX’s office in Taiwan, be held in custody over alleged fraud, the local TV channel TVBS News reported on Nov. 9.
Taipei prosecutors reportedly searched nine locations related to the JPEX investigation and summoned Chang and three other alleged suspects. The authorities identified Chang and JPEX lecturer Shih Yu-sheng (also called Shi Yu) as suspects in the case for violating the Banking Act and the Money Laundering Control Act.
Other defendants were released, including JPEX salespersons Liu Chien-fu and Niu Keng-sheng. According to the report, Liu was released on bail of 50,000 new Taiwan dollars ($1,550), while Niu, a registered person in charge of JPEX Taiwan, was released after questioning.
The report also noted that Nine Chen, a Taiwanese celebrity and singer who once represented JPEX as a brand ambassador, was also summoned by prosecutors. Prosecutors reportedly named Nine Chen as a defendant after initially calling him to testify as a witness.
Once a successful crypto exchange, JPEX abruptly halted some services in mid-September 2023, citing a liquidity crisis triggered by “unfair treatment” from several institutions in Hong Kong. The abrupt implosion fueled allegations about JPEX misleading investors by claiming to have applied for a crypto trading license and other issues.
Related: JPEX scandal won’t hurt Hong Kong crypto vision: Financial Secretary
JPEX quickly became the center of a major scandal in the industry. Hong Kong authorities launched an investigation after receiving over 2,000 complaints from JPEX users reporting nearly $180 million in losses. The implosion of JPEX has become a significant concern for financial regulators in Hong Kong, Taiwan and other countries, with many authorities initiating new measures to protect investors from losses due to similar incidents.
As of Sept. 25, law enforcement has arrested at least 11 alleged suspects in the JPEX case, while the alleged masterminds are still at large.
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Politics
‘Shameful’ that black boys in London more likely to die than white boys, says Met Police chief
It is “shameful” that black boys growing up in London are “far more likely” to die than white boys, Metropolitan Police chief Sir Mark Rowley has told Sky News.
The commissioner told Sunday Morning with Trevor Phillips that relations with minority communities “is difficult for us”.
Sir Mark, who came out of retirement to become head of the UK’s largest police force in 2022, said: “We can’t pretend otherwise that we’ve got a history between policing and black communities where policing has got a lot wrong.
“And we get a lot more right today, but we do still make mistakes. That’s not in doubt. I’m being as relentless in that as it can be.”
He said the “vast majority” of the force are “good people”.
However, he added: “But that legacy, combined with the tragedy that some of this crime falls most heavily in black communities, that creates a real problem because the legacy creates concern.”
Sir Mark, who also leads the UK’s counter-terrorism policing, said it is “not right” that black boys growing up in London “are far more likely to be dead by the time they’re 18” than white boys.
“That’s, I think, shameful for the city,” he admitted.
The Met Police chief’s admission comes two years after an official report found the force is institutionally racist, misogynistic and homophobic.
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Police chase suspected phone thief
Baroness Casey was commissioned in 2021 to look into the Met Police after serving police officer Wayne Couzens abducted, raped and murdered Sarah Everard.
She pinned the primary blame for the Met’s culture on its past leadership and found that stop and search and the use of force against black people was excessive.
At the time, Sir Mark, who had been commissioner for six months when the report was published, said he would not use the labels of institutionally racist, institutionally misogynistic and institutionally homophobic, which Casey insisted the Met deserved.
However, London Mayor Sadiq Khan, who helped hire Sir Mark – and could fire him – made it clear the commissioner agreed with Baroness Casey’s verdict.
After the report was released, Sir Mark said “institutional” was political language so he was not going to use it, but he accepted “we have racists, misogynists…systematic failings, management failings, cultural failings”.
A few months after the report, Sir Mark launched a two-year £366m plan to overhaul the Met, including increased emphasis on neighbourhood policing to rebuild public trust and plans to recruit 500 more community support officers and an extra 565 people to work with teams investigating domestic violence, sexual offences and child sexual abuse and exploitation.
Watch the full interview on Sunday Morning with Trevor Phillips from 8.30am on Sunday.
Labour’s largest union donor, Unite, has voted to suspend Deputy Prime Minister Angela Rayner over her role in the Birmingham bin strike row.
Members of the trade union, one of the UK’s largest, also “overwhelmingly” voted to “re-examine its relationship” with Labour over the issue.
They said Ms Rayner, who is also housing, communities and local government secretary, Birmingham Council’s leader, John Cotton, and other Labour councillors had been suspended for “bringing the union into disrepute”.
There was confusion over Ms Rayner’s membership of Unite, with her office having said she was no longer a member and resigned months ago and therefore could not be suspended.
But Unite said she was registered as a member. Parliament’s latest register of interests had her down as a member in May.
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The union said an emergency motion was put to members at its policy conference in Brighton on Friday.
Unite is one of the Labour Party’s largest union donors, donating £414,610 in the first quarter of 2025 – the highest amount in that period by a union, company or individual.
The union condemned Birmingham’s Labour council and the government for “attacking the bin workers”.
Mountains of rubbish have been piling up in the city since January after workers first went on strike over changes to their pay, with all-out strike action starting in March. An agreement has still not been made.
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Rat catcher tackling Birmingham’s bins problem
Ms Rayner and the councillors had their membership suspended for “effectively firing and rehiring the workers, who are striking over pay cuts of up to £8,000”, the union added.
‘Missing in action’
General secretary Sharon Graham told Sky News on Saturday morning: “Angela Rayner, who has the power to solve this dispute, has been missing in action, has not been involved, is refusing to come to the table.”
She had earlier said: “Unite is crystal clear, it will call out bad employers regardless of the colour of their rosette.
“Angela Rayner has had every opportunity to intervene and resolve this dispute but has instead backed a rogue council that has peddled lies and smeared its workers fighting huge pay cuts.
“The disgraceful actions of the government and a so-called Labour council, is essentially fire and rehire and makes a joke of the Employment Relations Act promises.
“People up and down the country are asking whose side is the Labour government on and coming up with the answer not workers.”
Piles of rubbish built up around Birmingham because of the strike over pay
Sir Keir Starmer’s spokesman said the government’s “priority is and always has been the residents of Birmingham”.
He said the decision by Unite workers to go on strike had “caused disruption” to the city.
“We’ve worked to clean up streets and remain in close contact with the council […] as we support its recovery,” he added.
A total of 800 Unite delegates voted on the motion.
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