Allegations of fraud by cryptocurrency asset management platform Steaker’s founder and CEO Wilson Huang (黃偉軒) likely arose from the company conducting specialized financial services without a business license, the Financial Supervisory Commission said on Friday.
Steaker Inc did not fulfill the requirements for its business operations, did not comply with regulations under the Money Laundering Control Act (洗錢防制法) and has likely contravened money laundering laws, the commission’s officials said.
The company had operated cryptocurrency exchange and investment schemes, on which it might have engaged in fraudulent or money laundering activities, as it engaged with the specialized financial services sector without a business license, it said.
The Taipei District Prosecutors’ Office searched the company’s offices and summoned its executives for questioning on Thursday.
Huang was denied bail and placed under judicial detention.
The Ministry of Justice Investigation Bureau cooperated with Taipei prosecutors to raid seven locations, collecting evidence and serving summonses.
Huang’s younger brother, Steaker deputy manager Huang Hao-hsuan (黃浩軒), the company’s chief technical officer Jesse Hsiu (修敏傑), chief operating officer Emma Pan (潘沂莛) and its marketing manager Tesia Lu (盧天心) were summoned and later released on bail ranging from NT$250,000 to NT$500,000 each.
Judicial authorities said the investigation focused on suspected defrauding of investors out of billions of New Taiwan dollars, while prosecutors alleged the executives had contravened the Banking Act (銀行法).
Wilson Huang, 31, has refused to provide the passwords needed to unlock the key “crypto wallets” and the blockchain account ledgers, making it more difficult for investigators to check the crypto transactions, prosecutors said.
Prosecutors quoted Wilson Huang as having denied the fraud charges, saying that Steaker suffered losses due to the collapse of FTX Trading Ltd last month.
Wilson Huang last month said that Steaker had a risk exposure of US$10.66 million, as it had invested in FTX and used its crypto exchange platform, and had filed lawsuits against FTX to recover the losses to Steaker’s clients.
“Our company came under investigation and searches by prosecutors, and our founder and CEO Wilson Huang was questioned. As the case is under judicial investigation, we are unable to provide an opinion on the events,” Steaker said in a statement on Thursday.
“Our company will fully cooperate with the investigation to clarify the issues involved, and we are working to restore normal operations as soon as time permits,” it said.
Yangmingshan National Park authorities yesterday urged visitors to respect public spaces and obey the law after a couple was caught on a camera livestream having sex at the park’s Qingtiangang (擎天崗) earlier in the day. The Shilin Police Precinct in Taipei said it has identified a suspect and his vehicle registration number, and would summon him for questioning. The case would be handled in accordance with public indecency charges, it added. The couple entered the park at about 11pm on Thursday and began fooling around by 1am yesterday, the police said, adding that the two were unaware of the park’s all-day live
A former soldier and an active-duty army officer were yesterday indicted for allegedly selling classified military training materials to a Chinese intelligence operative for a total of NT$79,440. The Taipei District Prosecutors’ Office indicted Chen Tai-yin (陳泰尹) and Lee Chun-ta (李俊達) for contravening the National Security Act (國家安全法) and the Anti-Corruption Act (貪污治罪條例). Chen left the military in September 2013 after serving alongside then-staff sergeant Lee, now an army lieutenant, at the 21st Artillery Command of the army’s Sixth Corps from 2011 to 2013, according to the indictment. Chen met a Chinese intelligence operative identified as “Wang” (王) through a friend in November
Minister of Digital Affairs Lin Yi-ching (林宜敬) yesterday cited regulatory issues and national security concerns as an expert said that Taiwan is among the few Asian regions without Starlink. Lin made the remarks on Facebook after funP Innovation Group chief executive officer Nathan Chiu (邱繼弘) on Friday said Taiwan and four other countries in Asia — China, North Korea, Afghanistan and Syria — have no access to Starlink. Starlink has become available in 166 countries worldwide, including Ukraine, Malaysia, the Philippines and Vietnam, in the six years since it became commercial, he said. While China and North Korea block Starlink, Syria is not
The Grand Hotel Taipei has rejected media reports claiming that the hotel had prevented CBS from broadcasting coverage of the Beijing summit between U.S. President Donald Trump and Chinese President Xi Jinping (習近平) on its premises. Media reports alleging that the hotel owner, dissatisfied with CBS’s coverage, prohibited the network from broadcasting political content on the hotel premises, are not true, the hotel said in a statement issued last night. The reports were “inconsistent with how the hotel actually handled the matter,” it said. The hotel said it received a refund request from a
RSS