Taiwanese prosecutors seek to detain ACE Exchange president to investigate fraud

BlockBeats news, on January 24, according to The Block, prosecutors in Taiwan, China, have applied to the Taipei court to detain ACE Exchange President Wang Chenhuan on suspicion of money laundering and fraud. The Taipei District Prosecutor’s Office said that after the police raided multiple locations in northern Taiwan Later, prosecutors summoned Wang Chenhuan and four other suspects on January 23. Wang Chenhuan is also a partner of Jianye Law Firm. Earlier this month, ACE Exchange founder David Pan was detained on suspicion of orchestrating a fraud. Pan and a co-conspirator surnamed Lin were accused of colluding for three years to use false advertising on social media to lure investors into investing money in companies including MOCT. worthless cryptocurrency. Prosecutors said today that Wang Chenhuan is suspected of being involved in the case and the court will make a decision on his detention later today.