As the president of ACE, a leading cryptocurrency exchange, and also the president of the law firm Jianye Law Office and the prestigious legal publication “Contemporary Law,” Wang Chenyuan has been arrested and detained on charges related to cryptocurrency fraud, money laundering, and other financial crimes. The academic community has expressed its opinions on the matter.
Background:
Breaking News: ACE President Wang Chenyuan’s home raided, resulting in the seizure of 50 million NT dollars in cash and nearly 200 million NT dollars in cryptocurrency. McLaren 720S supercar also confiscated.
ACE, a well-known domestic cryptocurrency company, has seen its founder Pan Yizhang and current president Wang Chenhuan both implicated in a series of “garbage coin fraud” cases. Both teams are currently under investigation, with suspected illegal funds exceeding 500 million NT dollars.
Pan had previously worked at KPMG A-Hon Jianye, while Wang is also the former director of Jianye Law Office (note: he has been removed from his position). He can be considered a lawyer and elite in the legal field. Wang is regarded by peers as a young and talented individual and is also the president of the well-known legal publication “Contemporary Law.” He has frequently appeared at legal-related seminars as the host and keynote speaker.
Image Source: Contemporary Law Facebook Page
Will the February seminar be affected? Shock in the academic community
“Contemporary Law” has collaborated with National Chengchi University multiple times to host seminars. The latest one, titled “Exploration of the Authority and Scope of Financial Inspection under Financial Supervision,” was scheduled for February 20. Wang Chenyuan was set to serve as the moderator and panelist but may have to adjust or cancel due to the impact of his arrest and detention.
The seminar has brought together numerous heavyweight scholars and practitioners in the domestic legal field, including Huang Shuaisheng, a partner at Wanhua Law Firm, Guo Dawei, a professor and department head at the Law School of National Taipei University, Guo Tumu, an honorary professor at the Law School of Fu Jen Catholic University, and Wang Zhicheng, a professor and vice president of the Law School of Culture University.
Scholars lament: Wang’s involvement is ironic
Wang Chenyuan’s exposure in the cryptocurrency fraud case has shocked many in the legal community. They express disbelief, questioning how such a talented young individual could be involved in such activities. However, one unnamed scholar commented sarcastically, finding Wang’s involvement in the case extremely ironic, stating, “He had strong opinions and actions regarding financial regulation, yet he has become a suspect. Many lawyers who know him find it unbelievable.”
Dong Qu, an interviewee from the seminar’s organizing team, was asked for their opinion on the matter. They could only express regret and declined to comment further, awaiting the results of the judicial investigation.
Related Reports
Breaking News: ACE President Wang Chenyuan’s home raided, resulting in the seizure of 50 million NT dollars in cash and nearly 200 million NT dollars in cryptocurrency. McLaren 720S supercar also confiscated.
Breaking News: ACE Exchange’s responsible person Wang Chenyuan “swiftly cut off” by Jianye Law Office: Director position replaced.
What about ACE users? After the arrest of President Wang Chenyuan, the exchange issued a statement: fully cooperating with the investigation, normal deposit and withdrawal operations.