Kaohsiung District Prosecutors Investigated NT 600 Million Ponzi Scheme, One detained and Four Released on Bond
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- Last updated：2020-10-06
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Kaohsiung District Prosecutors Investigated NT 600 Million
Ponzi Scheme, One detained and Four Released on Bond
On September 22, 2020, Kaohsiung District Prosecutors Office Anti-Corruption Unit director prosecutor Liu and prosecutor Hsieh lead investigators to probe into a fraudulent property company, Blue Wave Real Estate Ltd, alleged that it’s illegal fundraising activities. The suspects lured the victims to invest in overseas properties, located in Thailand and promised of earning quick money back. The offence criminally fraudulent or violate Banking Act statutes governing deposit and high rates for investors. The scheme falsely propose investors to put their deposit around 1million Thai Baht(930,000 NT dollars) to buy a build to suit lease, Bangkok Harbor View Hotel ,Thailand and guarantee 4% to 6.5% interests for revenue annually. To convinced the investors, the Blue Wave Real Estate Ltd host investor conference or banquet island wide and field trip in Thailand. It’s estimated that the illegal gains reach NT 600 Million and there are at least 80 victims since 2016.
After interrogated by prosecutors, Suspect Mr. Liu was detained for violating Banking Act Article 125 Section One, other 4 suspects were released on bond and one released without bond.
Kaohsiung District Prosecutors Office is calling for the public to raise public awareness about scams and illegal investment schemes. Be cautious of any illegal and unregistered fundraising investment.