Taiwan police have cracked a virtual currency fraud case involving over one hundred million New Taiwan dollars

According to Chain Catcher news, citing Taiwan's Central News Agency, a money-sucking group led by a 28-year-old man with the surname Lin in Taiwan is suspected of attracting victims to invest in virtual currencies with a high return pitch of 4% monthly profit. Over the past two years, the group has handled over 100 million NTD (New Taiwan Dollar), with many professional soldiers falling victim. The Kaohsiung City police have arrested four individuals and are processing them according to the law.

On the 26th, the Kaohsiung City police stated that in February this year, they received reports from the public about a 28-year-old man with the surname Wang and his 30-year-old wife with the surname Chen, who were suspected of attracting victims with promises of a 4% monthly profit and guaranteed returns through investments in titanium coins and physical stores. After gathering evidence, the police tracked the financial flow and accomplices.

After about six months of investigation, the police executed searches and arrests on July 6 and August 23, 2022, and subsequently tracked down the 28-year-old man with the surname Lin and a 32-year-old woman with the surname Hsu. The homes of Wang and Chen were adorned with many slogans, expressing hopes that their assets would exceed 500 million NTD, with a net monthly income of 10 million NTD, buying sports cars and luxury houses, and even reminding themselves to donate to orphanages and other social welfare organizations, which is quite ironic. The police have processed the four individuals for violations of the "Banking Act," fraud, and the "Anti-Money Laundering Act," among other charges. (Source link)