In a significant move by the Taiwanese judiciary, prosecutors are pushing for 20-year prison sentences for key suspects involved in the Ace Exchange cryptocurrency fraud. This severe legal action comes after the Taipei District Prosecutors' Office indicted 32 individuals, including the exchange's founder David Pan and other top executives, on charges of fraud and money laundering. The legal pursuit intensified following revelations that over 1,200 victims suffered substantial financial losses totaling approximately 800 million New Taiwan dollars ($24.56 million). This crackdown highlights Taiwan's stringent stance on crypto-related crimes and aims to set a rigorous legal precedent to deter similar fraudulent activities in the future.
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