Authorities have detained Su Yi (蘇怡), the president of jewelry firm Color Stone (彩石珠寶), and another company executive on suspicion of fraud.
Su and a general manager surnamed Lee (李) were detained and their communications restricted on Wednesday last week, after New Taipei City prosecutors and police on May 6 searched the Color Stone offices and six other locations, prosecutors said.
Su and her executives operated investment programs focused on diamonds and gemstones, promising investors guaranteed returns of 15 percent each year and a bonus for each quarter, they said.
From 2016, more than 100 people invested about NT$200 million (US$6.68 million at the current exchange rate) in the scheme, prosecutors said.
Su and Color Stone had previously featured in the media for sponsoring entertainment and film industry events featuring the firm’s jewelry.
A woman surnamed Liao (廖) said that she believed in the investment program because Su is a high-profile woman in the jewelry business.
Overall, she invested NT$1.6 million in the scheme, Liao said.
Liao told investigators that she had received the quarterly bonus for the first year, but then the bonus was delayed last year.
Su promised to pay the investors in installments, but did not, so Liao and other investors filed complaints with the police, she said.
Su also allegedly launched the “Color Stone Royal Club,” which people had to pay NT$9 million to join, prosecutors said, adding that Su promised members that they could share jewelry from her company for special events.
New Taipei prosecutors said that Su and Lee face charges of fraud and breaching the Banking Act (銀行法).
Taiwan is to have nine extended holidays next year, led by a nine-day Lunar New Year break, the Cabinet announced yesterday. The nine-day Lunar New Year holiday next year matches the length of this year’s holiday, which featured six extended holidays. The increase in extended holidays is due to the Act on the Implementation of Commemorative and Festival Holidays (紀念日及節日實施條例), which was passed early last month with support from the opposition Chinese Nationalist Party (KMT) and Taiwan People’s Party. Under the new act, the day before Lunar New Year’s Eve is also a national holiday, and Labor Day would no longer be limited
Taiwan is to extend its visa-waiver program for Philippine passport holders for another year, starting on Aug. 1, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said on Friday. Lin made the announcement during a reception in Taipei marking the 127th anniversary of Philippine independence and the 50th anniversary of the establishment of the Manila Economic and Cultural Office (MECO) in Taiwan, the Ministry of Foreign Affairs said. The decision reflected Taiwan’s commitment to deepening exchanges with the Philippines, the statement cited Lin as saying, adding that it was a key partner under the New Southbound Policy launched in 2016. Lin also expressed hope
Costa Rica sent a group of intelligence officials to Taiwan for a short-term training program, the first time the Central American country has done so since the countries ended official diplomatic relations in 2007, a Costa Rican media outlet reported last week. Five officials from the Costa Rican Directorate of Intelligence and Security last month spent 23 days in Taipei undergoing a series of training sessions focused on national security, La Nacion reported on Friday, quoting unnamed sources. The Costa Rican government has not confirmed the report. The Chinese embassy in Costa Rica protested the news, saying in a statement issued the same
Temperatures in New Taipei City’s Sindian District (新店) climbed past 37°C yesterday, as the Central Weather Administration (CWA) issued heat alerts for 16 municipalities, warning the public of intense heat expected across Taiwan. The hottest location in Taiwan was in Sindian, where the mercury reached 37.5°C at about 2pm, according to CWA data. Taipei’s Shilin District (士林) recorded a temperature of 37.4°C at noon, Taitung County’s Jinfeng Township (金峰) at 12:50 pm logged a temperature of 37.4°C and Miaoli County’s Toufen Township (頭份) reached 36.7°C at 11:40am, the CWA said. The weather agency yesterday issued a yellow level information notice for Taipei, New
RSS