Another FTX Victim? Taiwan’s Steaker Platform Executives Face Charges
- Steaker executives indicted for unlicensed crypto investment schemes worth $45.8M.
- Funds reportedly routed through FTX and used for high-risk trades and staff payments.
- Prosecutors link Steaker’s operations to violations of Taiwan’s Banking Act.
Taiwanese authorities have charged four senior executives of digital asset management platform Steaker for allegedly raising NT$1.48 billion ($45.8 million) through unauthorized cryptocurrency investment schemes. The Taipei Prosecutors’ Office confirmed the charges Thursday, pointing to Banking Act rules about taking deposits without a license.
Steaker founder Huang Weixuan, Chief Technology Officer Xiu Minjie, Chief Marketing Officer Lu Tianxin, and Chief Operations Officer Pan Yiting face charges over the operation.
The prosecution has requested the court to penalize the company under the Banking Act. However, Huang, who has been released on bail, also faces additional charges for financial misconduct involving investor funds.
How Steaker Allegedly Drew Funds with Up to 88% Return Promises
According to prosecutors, Steaker operated multiple virtual currency investment plans beginning in 2019, promi…
The post Another FTX Victim? Taiwan’s Steaker Platform Executives Face Charges appeared first on Coin Edition.
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Another FTX Victim? Taiwan’s Steaker Platform Executives Face Charges
- Steaker executives indicted for unlicensed crypto investment schemes worth $45.8M.
- Funds reportedly routed through FTX and used for high-risk trades and staff payments.
- Prosecutors link Steaker’s operations to violations of Taiwan’s Banking Act.
Taiwanese authorities have charged four senior executives of digital asset management platform Steaker for allegedly raising NT$1.48 billion ($45.8 million) through unauthorized cryptocurrency investment schemes. The Taipei Prosecutors’ Office confirmed the charges Thursday, pointing to Banking Act rules about taking deposits without a license.
Steaker founder Huang Weixuan, Chief Technology Officer Xiu Minjie, Chief Marketing Officer Lu Tianxin, and Chief Operations Officer Pan Yiting face charges over the operation.
The prosecution has requested the court to penalize the company under the Banking Act. However, Huang, who has been released on bail, also faces additional charges for financial misconduct involving investor funds.
How Steaker Allegedly Drew Funds with Up to 88% Return Promises
According to prosecutors, Steaker operated multiple virtual currency investment plans beginning in 2019, promi…
The post Another FTX Victim? Taiwan’s Steaker Platform Executives Face Charges appeared first on Coin Edition.
Read More