News Flash: ACE President Wang Chenhuan’s home was found with 50 million in cash and nearly 200 million in cryptocurrency! McLaren 720S supercar seized in further investigation.
Prominent ACE exchange CEO and president Wang Chenhuan was remanded in custody today. As a well-known lawyer, he is implicated in the “garbage case fraud” and money laundering, which has shocked society. The Taipei District Court’s detention hearing began at 7 p.m. tonight.
The verdict is out. ACE President Wang Chenhuan, Li Linda who facilitated the listing of garbage coins on ProEX and other exchanges, ACE exchange technician Gao Weilun, Lin Shufen who assisted the money laundering of the fraud group, and Lin’s daughter Xie Shijing, all five individuals are suspected of serious crimes and have concerns of collusion, destruction of evidence, and escape. In the evening, Wang Chenhuan and the other two were sentenced by the judge to be remanded in custody and denied visitation. The detention hearing for Li Linda and Gao Weilun is still ongoing.
Source: Screenshot from Taipei District Court
The news of Wang Chenhuan being remanded in custody has shocked the legal community. However, as a senior lawyer in the industry, Wang has enough connections and potential financial support, so he may request bail late at night or tomorrow (25th).
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