Just sponsor PLG! The founder of Steaker was indicted and banned from public view after being involved in attracting more than 100 million yuan. Explanation of legal issues in banking law

Just sponsor PLG! The founder of Steaker was indicted and banned from public view after being involved in attracting more than 100 million yuan. Explanation of legal issues in banking law｜Times News, One TV News

Times News: https://www.eracom.com.tw/EraNews/Home/Society/2022-12-22/1007453.html

One TV News:https://www.nexttv.com.tw/NextTV/News/Home/Society/2022-12-22/1007449.html

Steaker, a well-known digital asset management platform, sponsored the PLG Professional Basketball League two months ago. Just a month later, FTX, the world's second largest cryptocurrency trading platform, declared bankruptcy, resulting in Steaker's exposure amount reaching more than 320 million. Due to operational crisis, investors unexpectedly reported that the company was committing fraud to attract money. The investigation conducted a search and interview with the 31-year-old founder Huang Weixuan. After the interview was resumed, he was banned from seeing the company.

Explanation of legal issues in banking law

Lawyer Li Yusheng said: "If you do not have the qualifications of a bank, but you perform banking business, accept deposits and are entrusted to handle funds on behalf of others, and state that you will guarantee the principal and interest, you may be involved in the banking law and the crime of fraud. Since the proceeds from the crime in this case Exceeding NT$100 million may result in a prison sentence of more than seven years.”

Related Reading:https://fdlaw.com.tw/blog/banking-act-2/

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