Man Loses NT$50 Million to Fake Investment Scam; Criminal Investigation Bureau Arrests 21
The Criminal Investigation Bureau (CIB) busted a fake investment scam syndicate led by the Kuo brothers. The group impersonated stock market celebrities, lured people through social media ads to join LINE groups, and set up fraudulent investment websites and apps, defrauding victims of up to NT$50 million. Police arrested 21 individuals and seized luxury cars and other evidence. The CIB warns the public that any investment promising guaranteed returns or requiring private cash payments is a scam.
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- 📰 Published: April 10, 2026 at 17:09
- 🔍 Collected: April 10, 2026 at 18:00 (51 min after Published)
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The Criminal Investigation Bureau (CIB) held a press conference today. Li Chien-han, Deputy Captain of the First Brigade, stated that they had busted a fake investment scam syndicate that impersonated stock market celebrities, defrauding victims of NT$50 million. They arrested 21 individuals, including the Kuo brothers, and seized two luxury cars and other items.
The CIB found that the Kuo brothers, based in Kaohsiung, took advantage of the previous surge in Taiwan's stock market. They placed a large number of advertisements on social media platforms, impersonating stock market celebrities and university finance professors, to trick people into privately joining LINE groups. The scam syndicate then played multiple roles within these groups.
Police said that the scam syndicate, led by the Kuo brothers, created a false impression of stock market experts leading the way and precise trading, attracting investors into their trap. They also set up fake investment websites and apps, but the backend data was actually manipulated manually. Some victims, seeing their investment assets surge daily on the websites and apps, believed it to be true and subsequently cooperated with the syndicate's assigned stock managers to deliver cash for deposits.
Police reported that a retired teacher living in Taipei mortgaged land and property to a bank, investing over NT$50 million from May to August last year. When he later tried to withdraw his profits, he was asked to pay an additional 18% profit-sharing fee, only then realizing he had been scammed.
After several months of investigation, the CIB tracked down and arrested the main suspects, the Kuo brothers, and 19 other members, totaling 21 individuals. They also seized 12 designer bags, one Mercedes-Benz, one Porsche, cash, and other items. Police discovered that the Kuo brothers had no legitimate profession but drove luxury cars and lived extravagantly.
Police stated that this scam syndicate used money laundering operations to convert illicit gains into virtual currency and transfer them overseas to create breakpoints, employing cunning methods. After police questioning, the Kuo brothers and the 20 other individuals were transferred to the Shilin District Prosecutors Office for investigation on charges including fraud and violations of the Organized Crime Prevention Act. The Kuo brothers and three other accomplices were detained by the court.
The CIB emphasized that "fake websites, fake numbers, real scams" are the current mainstream investment fraud tactics. Claims of guaranteed profits or requests for private cash payments or remittances are scams. If in doubt, call the 165 anti-fraud hotline. (Edited by Hsieh Ya-chu) 1150410
The CIB found that the Kuo brothers, based in Kaohsiung, took advantage of the previous surge in Taiwan's stock market. They placed a large number of advertisements on social media platforms, impersonating stock market celebrities and university finance professors, to trick people into privately joining LINE groups. The scam syndicate then played multiple roles within these groups.
Police said that the scam syndicate, led by the Kuo brothers, created a false impression of stock market experts leading the way and precise trading, attracting investors into their trap. They also set up fake investment websites and apps, but the backend data was actually manipulated manually. Some victims, seeing their investment assets surge daily on the websites and apps, believed it to be true and subsequently cooperated with the syndicate's assigned stock managers to deliver cash for deposits.
Police reported that a retired teacher living in Taipei mortgaged land and property to a bank, investing over NT$50 million from May to August last year. When he later tried to withdraw his profits, he was asked to pay an additional 18% profit-sharing fee, only then realizing he had been scammed.
After several months of investigation, the CIB tracked down and arrested the main suspects, the Kuo brothers, and 19 other members, totaling 21 individuals. They also seized 12 designer bags, one Mercedes-Benz, one Porsche, cash, and other items. Police discovered that the Kuo brothers had no legitimate profession but drove luxury cars and lived extravagantly.
Police stated that this scam syndicate used money laundering operations to convert illicit gains into virtual currency and transfer them overseas to create breakpoints, employing cunning methods. After police questioning, the Kuo brothers and the 20 other individuals were transferred to the Shilin District Prosecutors Office for investigation on charges including fraud and violations of the Organized Crime Prevention Act. The Kuo brothers and three other accomplices were detained by the court.
The CIB emphasized that "fake websites, fake numbers, real scams" are the current mainstream investment fraud tactics. Claims of guaranteed profits or requests for private cash payments or remittances are scams. If in doubt, call the 165 anti-fraud hotline. (Edited by Hsieh Ya-chu) 1150410
FAQ
What was the amount of money involved in this scam case?
The fake investment scam amounted to NT$50 million.
How did the scam syndicate operate?
The scam syndicate impersonated stock market celebrities, placed ads on social media platforms to lure people into LINE groups, and set up fake investment websites and apps. They manipulated backend data to create a false impression of investment profits.
How many people were arrested by the police?
The police arrested 21 members of the scam syndicate, including the main suspects, the Kuo brothers.