Taiwan police arrest 22 in NT$1.3 billion fake investment scam
Taiwanese police have broken up a fake investment ring that took more than NT$1.3 billion from victims — good news for fraud victims, and a warning for anyone trusting investment tips on social media.
- The gang pushed phony investment offers on social platforms; two victims alone handed over about NT$50 million and NT$80 million before realizing they could not withdraw their "profits."
- Police used drones to watch cash pickups in real time, then moved in on the ground to grab the money mules and their lookouts.
- Twenty-two members were arrested across Taichung, Taipei, New Taipei, Kaohsiung and Pingtung, with cash, phones and a money-counting machine seized.
- The suspected ringleader fled into a bamboo forest in rural Pingtung and was caught after drone footage tracked his escape route.
Outlook: Five of the group, including the alleged ringleader, have already been charged with fraud and money laundering, and the investigation is still open.