Wilson Huang (黃偉軒), founder and CEO of cryptocurrency asset management platform Steaker, was yesterday detained after being questioned as part of a criminal investigation into alleged fraud and other financial irregularities.
The Taipei District Prosecutors’ Office, working in conjunction with the Ministry of Justice Investigation Bureau, on Wednesday raided seven locations to collect evidence, and summoned for questioning Huang and other principal figures at Steaker, including his younger brother and deputy manager Huang Hao-hsuan (黃浩軒), chief technical officer Jesse Hsiu (修敏傑), chief operating officer Emma Pan (潘沂莛) and marketing manager Tesia Lu (盧天心).
Steaker, which is engaged in digital financial investment, cryptocurrency exchange and asset fund management, is suspected of defrauding investors of more than NT$2 billion (US$65.19 million).
Photo: screen grab from the Web site of Steaker
Taipei prosecutors said that Wilson Huang and Steaker executives could face charges of contravening the Banking Act (銀行法) and aggravated financial fraud under the Criminal Code.
Wilson Huang was denied bail and detained with restricted communication to prevent him from fleeing, destroying evidence, colluding with others and hampering the investigation, prosecutors said.
Bail was granted for the other Steaker executives: NT$500,000 each for Hsiu and Pan; NT$250,000 for Lu; and NT$300,000 for Huang Hao-hsuan.
Steaker was founded by Wilson Huang in 2019, with its headquarters in Taipei.
The company’s information describes it as “one of the world’s leading digital asset management platforms” that has developed a wide range of cryptotrading strategies, provides a rich selection of portfolios and generates blockchain-based income.
Wilson Huang has received extensive publicity and coverage in the past few years, in both Chinese and English-language media outlets, with some reports describing him as a “legendary figure in Taiwan’s blockchain industry” who had invested early on as bitcoin and other cryptocurrencies flourished.
Other publications said he launched XY Finance, a cross-chain exchange aggregator that raised US$12 million last year, and was recognized as one of the 30 Taiwanese Gen.T up-and-comers shaping the future of Asia.
The reports said that when he was studying for a master’s degree in computer science at National Taiwan University, he developed a blockchain sector and gained plaudits as a master of cryptocurrency, creating a “crypto wallet” platform and other application technology for digital financial exchanges.
Prosecutors alleged that Wilson Huang, using his Steaker platform, defrauded people by promising at least a 5.8 percent return on investment and promoting other high-risk asset strategies to attract investors.
Many of his investment programs are being investigated on suspicion of contravening regulations on banking, investments and financial transactions, they said.
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