As the president of ACE Cryptocurrency Exchange and also the president of Jianye Law Firm and the chief editor of the professional legal publication “Contemporary Law”, Wang Chenhuan was arrested today for his involvement in financial crimes such as fraudulent cryptocurrency schemes and money laundering. The academic community has expressed their views on this matter.
(Previous summary:
Breaking News: ACE President Wang Chenhuan’s home raided, with 50 million NT dollars in cash and nearly 200 million NT dollars in cryptocurrency found! McLaren 720S supercar also seized in investigation.)
(Supplementary background:
Breaking News: ACE Exchange executive Wang Chenhuan promptly removed by Jianye Law Firm: Director position replaced by Jin Yu-ying.)
Renowned domestic cryptocurrency firm ACE Cryptocurrency Exchange has been hit by a series of scandals involving its founder Pan Yizhang and its current president Wang Chenhuan in connection with fraudulent cryptocurrency schemes. Both teams are currently under investigation by the prosecutors for suspected illegal funds exceeding 500 million NT dollars.
Pan previously worked at KPMG Anhou Jianye, while Wang Chenhuan served as the director of Jianye Law Firm (note: he has been removed from this position) and can be considered an outstanding lawyer and elite figure in the legal industry. Wang, who is regarded as young and talented by his peers, also serves as the president of the well-known legal publication “Contemporary Law” and has frequently appeared at legal-related seminars, hosting conferences and serving as a keynote speaker.
Image source: Contemporary Law Facebook page
Will the February seminar be affected? Shock in the academic community
“Contemporary Law”
The upcoming seminar, “Exploring the Authority and Scope of Financial Inspection under Financial Supervision,” which has been organized in collaboration with National Chengchi University on multiple occasions, is scheduled to be held on February 20th. Wang Chenhuan is listed as the moderator and speaker. However, it is possible that the investigation and detention may affect the schedule or lead to its cancellation.
The seminar has attracted many heavyweight scholars and practitioners in the domestic legal field, including Huang Shuaisheng, a partner lawyer at Wanhua Law Firm, Guo Dawei, a professor and department head at the College of Law, National Taipei University, Guo Tumu, an honorary professor at the College of Law, Fu Jen Catholic University, and Wang Zhicheng, a professor and vice president at the College of Law, Culture University.
Scholars lament: Wang’s involvement is ironic
With the exposure of Wang Chenhuan’s involvement in the cryptocurrency fraud case, many legal professionals have expressed shock, saying “How is that possible?” and “How could such a talented young person do such a thing?” However, an anonymous scholar lamented that Wang’s involvement is highly ironic, stating, “He had strong opinions and actions regarding financial regulation, but now he has become involved in a criminal case. Many lawyers who know him find it unbelievable.”
Dynamic Zone also sought the opinions of staff members related to the seminar, who expressed only “regret” and declined to comment further, awaiting the results of the judicial investigation.
Related Reports
Breaking News: ACE President Wang Chenhuan’s home raided, with 50 million NT dollars in cash and nearly 200 million NT dollars in cryptocurrency found! McLaren 720S supercar also seized in investigation.
Breaking News: ACE Exchange executive Wang Chenhuan promptly removed by Jianye Law Firm: Director position replaced by Jin Yu-ying.
What will happen to ACE users? Exchange statement: Full cooperation with investigation, normal deposit and withdrawal services.