During the evening September 10th, Xu was allegedly arrested in China, according to local news portal Sina News.
Why Star Xu then?
The founder of OKEx is a shareholder of WFEE so he can be responsible for the fraud. As ZeroHedge wrote:
“However, the investigation has shown Xu’s company in Shanghai is not responsible for issuing the currency. Instead, that part of the business was handled in Beijing.
The WFEE team’s location seems to be in Shanghai. As such, it makes little sense for them to defraud investors through a Beijing subsidiary. The exact nature of Star Xu’s involvement remains unclear at this time.”
Sina News: Star Xu, founder of OKCoin/OKEX, is being investigated by Shanghai police. According to Lu Jun, officer at the local PD, Xu was suspected of fraud accused by investors. SH police has accepted the case.
— cnLedger [Not giving away ETH] (@cnLedger) 11 września 2018
The video of Xu’s dialogue with the police was madly transmitted online. In the video, Xu Mingxing said that he was surrounded by seven or eight people in the hotel.
According to reporters in front of the police station, Xu Xing is still in the police room.
Image by Piotr Swat / Shutterstock.com
Last modified: September 11, 2018
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