By Jason Pan / Workers reporter
Fourteen individuals have been arrested over a cryptocurrency funding rip-off that allegedly defrauded greater than 100 individuals out of about NT$150 million (US$5.41 million) over the previous yr, police mentioned on Friday.
The 14 suspects face fees of fraud, cash laundering and breaches of the Organized Crime Prevention Act (組織犯罪防制條例), the Prison Investigation Bureau (CIB) mentioned.
A businessman surnamed Chen (陳) allegedly led the scheme, mentioned CIB investigator Kuo Yu-chih (郭有志), who’s accountable for the case.
Chen promoted cryptocurrency funding on social media and led the Taipei-based Azure Crypto Co, which provided cryptocurrency transactions, in addition to different funding providers, Kuo mentioned.
Chen’s funding schemes centered on the cryptocurrencies ethereum, tronix and tether, Kuo mentioned, including that Chen promised excessive funding earnings via the blockchain know-how.
“Chen and his employees arrange Web pages, and allegedly used images of fairly girls to draw primarily male victims, lots of whom have been in retirement with substantial financial savings,” he mentioned.
The victims have been drawn to the Web pages by the engaging photos and persuaded to speculate via interactions they believed to be with the ladies, whereas Chen and his employees offered themselves as monetary advisers specializing in cryptomining, Kuo mentioned.
Investigators confiscated ledgers itemizing greater than 100 individuals caught up within the rip-off, the bureau mentioned.
The one that misplaced probably the most had invested NT$29 million over two months, it mentioned.
Investigators quoted the person as saying that after an preliminary funding, Azure Crypto promised him earnings that prompted him to speculate extra.
After complaints, the bureau monitored the agency’s actions and its on-line transactions over a number of months earlier than conducting raids late final month on the firm’s workplace, and the residences of Chen and his employees.
Feedback will likely be moderated. Preserve feedback related to the article. Remarks containing abusive and obscene language, private assaults of any type or promotion will likely be eliminated and the person banned. Closing choice will likely be on the discretion of the Taipei Occasions.