Taiwan police arrest 22 in NT$130 million fake investment scam
Taiwanese police broke up a fraud ring that stole more than NT$130 million by selling fake investments online, good news for scam victims but a warning about investment pitches on social platforms.
- The gang posted fake investment tips on social media and took money from victims, including two who handed over sums in the tens of millions.
- Victims only realized they had been robbed when they could not withdraw their supposed profits.
- Police used drones to watch cash handovers in real time, then moved in with officers on the ground to make arrests.
- The ringleader hid in a bamboo forest in rural Pingtung, but drone cameras tracked him down.
- Police seized several million in cash, cash-counting machines, and phones; 22 people face fraud and money-laundering charges.
Outlook: Five suspects have already been charged, and the investigation into the rest of the network continues.