Absolute Energy Fraud Case: 4 Detained, 2 Released on Bail by Taipei District Court
The Taipei District Prosecutors Office indicted the Absolute Energy Group for illegally raising NT$277.3 million from 316 victims since March 2023, by falsely claiming investments in cryptocurrency and clean energy technologies with high annual returns. The group also allegedly defrauded nearly a thousand people of over NT$5 billion by promoting investments in virtual currencies EGT and TBT through a DEFI lending platform. Key suspects, including Chiu Chih-hao, have been detained.
📋 Article Processing Timeline
- 📰 Published: April 11, 2026 at 11:00
- 🔍 Collected: April 11, 2026 at 12:00 (1h 0m after Published)
- 🤖 AI Analyzed: April 15, 2026 at 19:17 (103h 16m after Collected)
The Taipei District Prosecutors Office indicted the Absolute Energy Group, stating that since March 2023, the group has illegally raised NT$277.3 million by setting up websites and holding seminars under the guise of investment and wealth management. They claimed to be engaged in virtual currency and clean energy technology investments, guaranteeing principal and selling Class A and Class B preferred shares, boasting annual interest rates of up to 25% and 42% respectively, and providing Absolute Energy Company preferred stock as proof to attract investors.
The prosecution stated that the dividends received by the victims in this case all came from the principal of other investors, which is a 'Ponzi scheme' fraud model, with as many as 316 victims.
The Taipei District Prosecutors Office concluded the entire case in December last year, indicting the main suspect Chiu Chih-hao and 16 others for fraud involving three or more people using the internet to disseminate fraudulent information to the public, as well as violating the Banking Act, Securities Exchange Act, and money laundering offenses.
The Taipei District Prosecutors Office further found that the Absolute Energy Group held seminars between 2022 and 2025, encouraging investors to purchase virtual currencies EGT and TBT, and then placing these virtual assets on the group's DEFI lending platform, allowing the group to lend out the virtual currencies. They claimed an average monthly interest rate of 3% to 7%, defrauding nearly a thousand people of over NT$5 billion over four years. In January this year, the Taipei District Prosecutors Office arrested Chiu Chih-hao and eight others, and Chiu Chih-hao's detention and restricted communication were approved.
On the 9th, the Taipei District Prosecutors Office directed the Taipei City Investigation Office of the Investigation Bureau and the Daan Precinct of the Taipei City Police Department to search nine residences of nine individuals, including a manager surnamed Li, with court-issued search warrants. Nine defendants, including the man surnamed Li, were also arrested for questioning. On the evening of the 9th, six individuals, including the man surnamed Li, were transferred to the Taipei District Prosecutors Office for further questioning, after which the prosecution applied to the court for their detention and restricted communication. On the 10th, the police transferred sales representatives surnamed Cho, Li, and Chan. After questioning, Cho and Li were detained with restricted communication, while Chan was restricted to residence.
In this search and arrest operation, the Taipei District Prosecutors Office applied for the detention and restricted communication of eight individuals. The Taipei District Court has currently ruled to detain and restrict communication for four individuals surnamed Cheng, Kao, Yang, and Pan. The two individuals surnamed Cho and Li are awaiting today's hearing. In addition, two individuals surnamed Chiang and Li were released on bail of NT$500,000 and NT$100,000 respectively. (Edited by Li Shu-hua) 1150411
The prosecution stated that the dividends received by the victims in this case all came from the principal of other investors, which is a 'Ponzi scheme' fraud model, with as many as 316 victims.
The Taipei District Prosecutors Office concluded the entire case in December last year, indicting the main suspect Chiu Chih-hao and 16 others for fraud involving three or more people using the internet to disseminate fraudulent information to the public, as well as violating the Banking Act, Securities Exchange Act, and money laundering offenses.
The Taipei District Prosecutors Office further found that the Absolute Energy Group held seminars between 2022 and 2025, encouraging investors to purchase virtual currencies EGT and TBT, and then placing these virtual assets on the group's DEFI lending platform, allowing the group to lend out the virtual currencies. They claimed an average monthly interest rate of 3% to 7%, defrauding nearly a thousand people of over NT$5 billion over four years. In January this year, the Taipei District Prosecutors Office arrested Chiu Chih-hao and eight others, and Chiu Chih-hao's detention and restricted communication were approved.
On the 9th, the Taipei District Prosecutors Office directed the Taipei City Investigation Office of the Investigation Bureau and the Daan Precinct of the Taipei City Police Department to search nine residences of nine individuals, including a manager surnamed Li, with court-issued search warrants. Nine defendants, including the man surnamed Li, were also arrested for questioning. On the evening of the 9th, six individuals, including the man surnamed Li, were transferred to the Taipei District Prosecutors Office for further questioning, after which the prosecution applied to the court for their detention and restricted communication. On the 10th, the police transferred sales representatives surnamed Cho, Li, and Chan. After questioning, Cho and Li were detained with restricted communication, while Chan was restricted to residence.
In this search and arrest operation, the Taipei District Prosecutors Office applied for the detention and restricted communication of eight individuals. The Taipei District Court has currently ruled to detain and restrict communication for four individuals surnamed Cheng, Kao, Yang, and Pan. The two individuals surnamed Cho and Li are awaiting today's hearing. In addition, two individuals surnamed Chiang and Li were released on bail of NT$500,000 and NT$100,000 respectively. (Edited by Li Shu-hua) 1150411
FAQ
What were the main fraudulent schemes of the Absolute Energy Group?
The group established websites and held seminars under the guise of investment and wealth management, claiming to invest in virtual currencies and clean energy technologies, selling preferred shares with high annual interest rates to illegally raise funds. They also promoted the purchase of virtual currencies EGT and TBT, and raised funds through a DEFI lending platform.
How much money was illegally raised and how many people were victimized in this case?
NT$277.3 million was illegally raised from 316 victims in the initial fraud. In the cryptocurrency-related scheme, over NT$5 billion was raised, victimizing nearly a thousand people.