Taiwan Authorities Arrest Two Suspects in JPEX Scandal Amid Ongoing Investigation
Taiwan authorities have arrested two suspects in connection with the JPEX scandal, a massive financial fraud case involving valued stocks being sold illegally in the stock market.
The suspects were identified as Roderick Lu from New Taipei City and Ju Yeong-mei from Kaohsiung City. They were accused of manipulating JPEX stocks by disseminating false information and using shell companies to fool investors.
The case has already seen dozens of arrests and the suspects are currently facing charges of violations of the Securities and Exchange Act, embezzlement, insider trading, and collusion.
The ongoing investigation into the fraud has revealed that more than one billion NTD worth of JPEX stocks has been illegally sold.
The Taiwan Financial Supervisory Commission has called the fraud the biggest in the market’s history and has vowed to crack down on any further fraudulent activity.