Like a plot straight out of the film Catch Me If You Can, a wanted fraudster who was once dubbed the “golden boy of real estate” was apprehended in Taipei late last year after hiding out in Pingtung County where he again swindled tens of millions of New Taiwan dollars from local residents, investigators said on Sunday.
Lai Kuan-chai (賴冠翟), 44, had previously been arrested by Yilan police for his involvement in an illegal fundraising scheme that accrued more than NT$100 million (US$31.64 million), the investigators said.
After being released on bail in 2018, Lai disappeared and resurfaced on the Hengchun Peninsula (恆春半島) in 2019, posing as an architect and lawyer under the alias “Shen Wen” (沈文), they said.
Photo courtesy of a member of the public
While there, Lai hosted a “leadership summit” at Chiaoyong Primary School, sponsored outdoor activities for students and vowed to help children from the rural area gain admission to National Taiwan University.
Lai arranged for teachers and students to visit the Legislative Yuan in Taipei, with photographs of the trip still visible on an official Web site, investigators said, adding that this served as a perfect cover to establish his credibility.
To the teachers and students, “Lawyer Shen” appeared to keep a low profile, always wearing a mask and a hat when going out, and avoiding taking photographs in public, claiming that he was not seeking recognition for his good deeds, they said.
In 2023, Lai allegedly began to “casually” reveal investment opportunities to those close to him after gaining their trust, investigators said.
Claiming he planned to retire after “cultivating this final batch of students,” he used promises of guaranteed returns and his supposed architectural expertise to solicit investments before vanishing, they said.
It was not until the victims were unable to reach him that they realized his five-year charity campaign was a front to steal their money, investigators said.
About a dozen teachers and parents in the Hengchun area reportedly fell victim to the scam, with one investing up to NT$9 million of their retirement funds, police said, estimating the total defrauded amount to be more than NT$20 million.
Police said many other victims might be unwilling to come forward to protect their reputation.
One victim said they confidently invested their life savings with Lai due to his enthusiasm for supporting the community and his “high connections.”
“I never imagined he was a wanted fraudster,” they added.
Lai’s case has been transferred to the Yilan District Court for detention, they said.
Pingtung County police issued an anti-fraud warning regarding the case, describing it as a typical “authority figure scam.”
Lai created a false image of having high socioeconomic status by using professional titles and photographs with politicians to build trust, deceiving even normally cautious people, police said.
Lai’s success was due to psychological manipulation, they said.
The credentials of lawyers and architects are easily verifiable through official online systems, they said.
Fraud rings also often use small acts such as charitable donations or student activities to whitewash their image, police said, adding that they frequently use public events to take photos with high-ranking officials to create the illusion of having close ties to power.
Police urged the public to stick to legal investment channels, adding that anyone claiming guaranteed returns or secret operations, or who refuses to show their face in public, is likely to be a fraudster.
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