According to the news report on “The News Lens”, the Taipei District Court held the first trial on Thursday (the 6th) for the ACE Top Exchange fraud case. One of the main suspects, Lin Genghong, denied the crime and argued that the former prosecutor told him that virtual currency could be bought and sold, but not defrauded, so he hired a professional team to operate it.
In April this year, the founder of the ACE Top Exchange, Pan Yizhang, lawyer Wang Chenhuan, Lin Genghong, and others were accused of inducing victims to invest in virtual currency that could not be cashed out, making a profit of nearly NT$800 million, and were prosecuted by the Taipei District Prosecutors Office for fraud, money laundering, and other crimes.
Lin Genghong argued in court yesterday that the former prosecutor told him that virtual currency could be bought and sold, so he established the ACE Top Exchange, which was guided by the ABA accelerator, funded by the Ministry of Economic Affairs, and founded by Pan Yizhang, with the assistance of KPMG. Lin Genghong emphasized that the supervisors and employees involved all have a high level of professional knowledge, and they carried out legal activities with the highest standards and strictest attitude. Everything was done with the intention of starting a new virtual currency, not deceiving consumers with fraudulent means, so he did not have the intention to defraud.
According to reports, the suspects in this case used various methods such as establishing the IMBA direct sales team and branches to promote, spreading false news on online media, and manipulating currency prices on exchanges to deceive the public into investing in five types of virtual currency, including MOCT, CSO, FITC, NFTC, and BNAT.
Lin Genghong’s defense lawyer stated that the ACE Top Exchange case did not guarantee profits, all fund custody had complete records and evidence, and there was no intention to conceal or disguise. The IMBA society was not established as a criminal organization to commit fraud. Another lawyer mentioned that if Lin wanted to commit fraud, he could have used a simpler method, without making it so complicated.
Furthermore, according to “The News Lens” report, when the re-arrested defendant Lin Genghong was summoned to court yesterday and got out of the prison van, he even made a “YA” gesture to the media. In addition to Lin Genghong and defendant Lin Ruoqiao appearing in court, the mother and daughter who were suspected of helping to conceal the stolen money at the Yilan retreat were also summoned to court. The case is still under trial.
Source:
The News Lens
Mirror News
