Fourteen people have been arrested over a cryptocurrency investment scam that allegedly defrauded more than 100 people out of about NT$150 million (US$5.41 million) over the past year, police said on Friday.
The 14 suspects face charges of fraud, money laundering and breaches of the Organized Crime Prevention Act (組織犯罪防制條例), the Criminal Investigation Bureau (CIB) said.
A businessman surnamed Chen (陳) allegedly led the scheme, said CIB investigator Kuo Yu-chih (郭有志), who is in charge of the case.
Chen promoted cryptocurrency investment on social media and led the Taipei-based Azure Crypto Co, which offered cryptocurrency transactions, as well as other investment services, Kuo said.
Chen’s investment schemes focused on the cryptocurrencies ethereum, tronix and tether, Kuo said, adding that Chen promised high investment earnings through the blockchain technology.
“Chen and his staff set up Web sites, and allegedly used photographs of pretty women to attract mainly male victims, many of whom were in retirement with substantial savings,” he said.
The victims were drawn to the Web sites by the attractive images and persuaded to invest through interactions they believed to be with the women, while Chen and his staff presented themselves as financial advisers specializing in cryptomining, Kuo said.
Investigators confiscated ledgers listing more than 100 people caught up in the scam, the bureau said.
The person who lost the most had invested NT$29 million over two months, it said.
Investigators quoted the man as saying that after an initial investment, Azure Crypto promised him earnings that prompted him to invest more.
After complaints, the bureau monitored the firm’s activities and its online transactions over several months before conducting raids late last month at the company’s office, and the residences of Chen and his staff.
Organizing one national referendum and 26 recall elections targeting Chinese Nationalist Party (KMT) legislators could cost NT$1.62 billion (US$55.38 million), the Central Election Commission said yesterday. The cost of each recall vote ranges from NT$16 million to NT$20 million, while that of a national referendum is NT$1.1 billion, the commission said. Based on the higher estimate of NT$20 million per recall vote, if all 26 confirmed recall votes against KMT legislators are taken into consideration, along with the national referendum on restarting the Ma-anshan Nuclear Power Plant, the total could be as much as NT$1.62 billion, it said. The commission previously announced
Restaurants in New Taipei City, Hsinchu City and Hsinchu County are to be included in the Michelin Guide’s review for the first time this year, alongside existing entries from Taipei, Taichung, Tainan and Kaohsiung, the France-based culinary publication said yesterday. This year’s edition of the Michelin Guide Taiwan is to be unveiled on Aug. 19 in Taipei. In addition to the coveted star ratings, Michelin Taiwan would announce its “Bib Gourmand” selections — a distinction awarded to establishments offering high-quality food at moderate prices — on Aug. 12. This year’s Bib Gourmand list would also feature restaurants in New Taipei City, Hsinchu
A firefighter yesterday died after falling into New Taipei City's Xindian River when a rescue dinghy capsized during a search mission for a man who was later found dead. The New Taipei City Fire Department said that it received a report at 4:12pm that a 50-year-old man, surnamed Chen (陳), had fallen into the river. A 32-year-old firefighter, surnamed Wu (吳), was among the rescuers deployed to look for Chen, the fire department said, adding that he and five other rescue personnel were in the dinghy when it capsized. Wu had no vital signs after being pulled from the water to the
The Ministry of Foreign Affairs (MOFA) yesterday welcomed NATO Secretary-General Mark Rutte’s remarks that the organization’s cooperation with Indo-Pacific partners must be deepened to deter potential threats from China and Russia. Rutte on Wednesday in Berlin met German Chancellor Friedrich Merz ahead of a ceremony marking the 70th anniversary of Germany’s accession to NATO. He told a post-meeting news conference that China is rapidly building up its armed forces, and the number of vessels in its navy outnumbers those of the US Navy. “They will have another 100 ships sailing by 2030. They now have 1,000 nuclear warheads,” Rutte said, adding that such
RSS