Taiwan police busts investment scam targeting mainland women

Taiwan police busts investment scam targeting mainland women
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TAIPEI, Taiwan - The Criminal Investigation Bureau (CIB) has recently smashed a fraud ring that allegedly used online social network sites to scam hundreds of mainland Chinese women under a false investment scheme.

In a released statement, the CIB said police authorities arrested 12 suspects, including the chief suspects, a couple surnamed Chang, during separate raids conducted July 21 in Taichung and New Taipei cities.

The suspects are being charged with fraud and the case is now being investigated by Taitung District Prosecutors Office, it said.

According to the CIB, the bureau received tips earlier this year that the alleged fraudsters used photographs of handsome-looking men and attempted to make friends with potential victims via online social network websites.

After bonding with the potential victims, the alleged fraudsters claimed to be managers of stock companies and said that they had inside information about profitable investment proposals and invited the victims to make an investment.

Police estimated that more than 100 female mainland Chinese nationals, aged between 30 and 50, were deceived and were allegedly scammed out of over NT$10 million (S$434,820.

The police urged the public to be cautious if offered such investment proposals and called on those with questions to call the 165 anti-fraud hotline to verify.

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