The Criminal Investigation Bureau on Wednesday said it had arrested 15 people in connection with multiple cases of online investment fraud.
The bureau told a news conference that during a series of raids last month, authorities investigating online investment fraud arrested 15 people and seized one laptop, five mobile phones, one vehicle, four bank accounts, one house and NT$560,000 (US$17,174) in cash.
The suspects and evidence have been transferred to the Kaohsiung District Prosecutors’ Office, the bureau said.
Photo: CNA
Investigations indicate that the operation was led by a man surnamed Wang (王), who had previous convictions on fraud and drug charges, it said.
Wang recruited two network engineers, a woman and a man, both surnamed Chiu (邱), who set up customized fake investment Web sites for several scam rings, it said.
The two also provided services such as cloud server setup, backend Web site development, frontend Web site design, database building, domain name registration, customer services and mobile SMS verification, making them a system integration provider for scammers, the bureau said.
From September last year to April this year, the syndicate placed advertisements on social media, claiming to provide easy ways to earn passive income and tricking victims into joining groups of the social messaging app Line, it said.
The victims were then asked to make a NT$10,000 payment for further “investments” and tricked into making more investments when they wanted to withdraw their “profits.”
Police have uncovered at least 78 investment scam Web sites, 110 victims, who have lost a combined total of NT$10.2 million, and 160,000 Tether cryptocurrency coins, the bureau said.
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