Absolute Energy Pyramid Scheme: Taipei Prosecutors Office Again Detains 2 Salespersons
The Taipei District Prosecutors Office indicted the Absolute Energy Group for illegally raising over NT$277.3 million since March 2023 through fraudulent investment schemes, falsely claiming investments in virtual currency and clean energy with high annual returns. The scheme, which defrauded 316 victims, was a typical 'robbing Peter to pay Paul' operation. Additionally, between 2022 and 2025, the group lured nearly 1,000 people into investing in virtual currencies EGT and TBT via a DEFI lending platform, promising monthly interest of 3% to 7%, defrauding over NT$5 billion. Prosecutors have indicted 17 individuals, including the main suspect Chiu Chih-hao, and have re-detained six, including the operations director surnamed Lee, along with salespersons surnamed Cho, Lee, and Chan.
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- 📰 Published: April 10, 2026 at 21:59
- 🔍 Collected: April 11, 2026 at 00:17 (2h 18m after Published)
- 🤖 AI Analyzed: April 15, 2026 at 22:00 (117h 42m after Collected)
The Taipei District Prosecutors Office indicted that the Absolute Energy Group, starting from March 2023, established a website and held explanatory meetings under the guise of financial investment, claiming to engage in virtual currency and clean energy technology investments. They guaranteed principal and sold Class A and Class B preferred shares, boasting annual interest rates of up to 25% and 42% respectively, and provided Absolute Energy Company preferred stock certificates as proof, attracting investors to inject funds, illegally raising as much as NT$277.3 million.
Prosecutors stated that the dividends received by the victims in this case all came from the principal of other investors, which is a 'robbing Peter to pay Paul' fraud model, with the number of victims reaching as high as 316.
The Taipei Prosecutors Office concluded the investigation of the entire case in December last year, indicting 17 individuals, including the main suspect Chiu Chih-hao, 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 Prosecutors Office further investigated and found that the Absolute Energy Group held explanatory meetings between 2022 and 2025, encouraging investors to purchase virtual currencies EGT and TBT, and then place these virtual assets on the group's self-created DEFI lending platform, allowing the group to lend out the virtual currencies, claiming an average monthly interest of 3% to 7%. Over four years, nearly a thousand people were defrauded of over NT$5 billion. In January this year, the Taipei Prosecutors Office arrested nine individuals, including Chiu Chih-hao, and Chiu Chih-hao was approved for detention and solitary confinement.
Yesterday, the Taipei Prosecutors Office directed the Taipei City Investigation Office of the Investigation Bureau and the Daan Precinct of the Taipei City Police Department to execute search warrants issued by the court, searching nine residences of individuals including the operations director surnamed Lee. Nine defendants, including Lee, were also brought in for questioning. Last night, six individuals, including Lee, were transferred to the Taipei Prosecutors Office for further questioning.
Prosecutors applied for detention and solitary confinement for six individuals, including Lee, early this morning, and the hearing is currently underway. The police transferred salespersons surnamed Cho, Lee, and Chan this afternoon. Prosecutors will apply for detention and solitary confinement for Cho and Lee tonight, and the salesperson surnamed Chan was restricted from leaving their residence. (Edited by Hsieh Ya-chu) 1150410
Prosecutors stated that the dividends received by the victims in this case all came from the principal of other investors, which is a 'robbing Peter to pay Paul' fraud model, with the number of victims reaching as high as 316.
The Taipei Prosecutors Office concluded the investigation of the entire case in December last year, indicting 17 individuals, including the main suspect Chiu Chih-hao, 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 Prosecutors Office further investigated and found that the Absolute Energy Group held explanatory meetings between 2022 and 2025, encouraging investors to purchase virtual currencies EGT and TBT, and then place these virtual assets on the group's self-created DEFI lending platform, allowing the group to lend out the virtual currencies, claiming an average monthly interest of 3% to 7%. Over four years, nearly a thousand people were defrauded of over NT$5 billion. In January this year, the Taipei Prosecutors Office arrested nine individuals, including Chiu Chih-hao, and Chiu Chih-hao was approved for detention and solitary confinement.
Yesterday, the Taipei Prosecutors Office directed the Taipei City Investigation Office of the Investigation Bureau and the Daan Precinct of the Taipei City Police Department to execute search warrants issued by the court, searching nine residences of individuals including the operations director surnamed Lee. Nine defendants, including Lee, were also brought in for questioning. Last night, six individuals, including Lee, were transferred to the Taipei Prosecutors Office for further questioning.
Prosecutors applied for detention and solitary confinement for six individuals, including Lee, early this morning, and the hearing is currently underway. The police transferred salespersons surnamed Cho, Lee, and Chan this afternoon. Prosecutors will apply for detention and solitary confinement for Cho and Lee tonight, and the salesperson surnamed Chan was restricted from leaving their residence. (Edited by Hsieh Ya-chu) 1150410