As the president of ACE Cryptocurrency Exchange and also the president of Jianye Law Firm and the chief editor of the legal publication “Contemporary Law,” Wang Chenhuan has been arrested and detained on charges related to cryptocurrency fraud, money laundering, and other financial crimes. The academic community has expressed their opinions on the matter.
Background:
News Flash: ACE President Wang Chenyuan’s home raided, 50 million cash and nearly 200 million in cryptocurrency seized! McLaren 720S supercar also confiscated.
Supplementary background:
News Flash: ACE Exchange’s responsible person Wang Chenyuan swiftly removed by Jianye Law Firm: Director position replaced by Jin Jin.
The well-known domestic cryptocurrency company ACE Cryptocurrency Exchange has seen its founder Pan Yizhang and current president Wang Chenhuan implicated in a series of “junk coin fraud cases.” Both teams are currently under investigation by prosecutors for allegedly involving illegal funds exceeding 500 million New Taiwan Dollars.
Pan previously worked at KPMG Anhou Jianye Law Firm, while Wang Chenhuan also served as the director of Jianye Law Firm (note: he has been removed from this position), making him a lawyer and legal elite. Wang is considered by his peers as a young and talented individual and also serves as the chief editor of the well-known legal publication “Contemporary Law.” He has frequently appeared as a moderator and keynote speaker at legal-related seminars and conferences.
Image Source: Contemporary Law Facebook Page
Will the February seminar be postponed? Academic community shaken.
The upcoming seminar “Discussing the Authority and Scope of Financial Inspections under Financial Supervision” organized in collaboration with National Chengchi University has raised concerns due to the involvement of Wang Chenhuan, who was scheduled to serve as the host and panelist. It is possible that the event will be rescheduled or cancelled due to the impact of his arrest.
The seminar will bring together several heavyweight scholars and practitioners in the legal field, including Huang Shuai-Sheng, a partner at Wanguo Law Firm, Guo Da-Wei, professor and department chair at National Taipei University Law School, Guo Tu-Mu, honorary professor at Fu Jen Catholic University Law School, and Wang Zhi-Cheng, professor and vice president of Culture University Law School.
Scholars lament: Wang’s involvement is ironic.
The revelation of Wang Chenhuan’s involvement in cryptocurrency fraud has shocked many in the legal community. They have expressed disbelief, saying things like “How is that possible?” and “How could such a talented young person do such a thing?” However, an anonymous scholar commented that Wang’s implication is quite ironic, as he has been very active in financial regulation and has made significant contributions in the field. Many lawyers who know him find it unbelievable.
Dongqoo also sought the opinions of staff members involved in the seminar, but they only expressed “regret” and declined to comment further, waiting for the results of the judicial investigation.
Related reports:
News Flash: ACE President Wang Chenyuan’s home raided, 50 million cash and nearly 200 million in cryptocurrency seized! McLaren 720S supercar also confiscated.
News Flash: ACE Exchange’s responsible person Wang Chenyuan swiftly removed by Jianye Law Firm: Director position replaced by Jin Jin.
What will happen to ACE users? After the arrest of President Wang Chenyuan, the exchange released a statement: fully cooperating with the investigation, normal deposit and withdrawal operations.