Shenshuo Company Illegally Raised Over 4.5 Billion, Responsible Person Sentenced to 18 Years in First Instance
Chen, founder of Shenshuo International Network Co., Ltd., was sentenced to 18 years in prison in the first instance for illegally raising over 4.5 billion NTD through an investment platform. Chen and others lured investors with disproportionately high annual returns of 32.14% to 188.39%, using a scheme where later investments funded earlier ones. Approximately 3,000 victims were identified, with over 1,000 reporting the crime. Chen and 63 accomplices were indicted for fraud, banking law violations, and money laundering, with confiscation of criminal proceeds also requested.
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- 📰 Published: April 8, 2026 at 18:37
- 🔍 Collected: April 8, 2026 at 19:00 (23 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 18:37 (167h 36m after Collected)
According to the prosecutor's indictment, 62-year-old Chen (alias "Chen Guang"), founder of Shenshuo International Network Co., Ltd., set up an illegal investment bidding platform to solicit funds and defraud investors, publicly recruiting people to invest through the "CCE China Capital Exchange" P2P bidding platform.
Since 2021, Chen and others held public investment briefings across Taiwan, claiming that one bid amount was 560,000, 610,000, or 760,000 NTD, and guaranteed to make up 2 million NTD after 8 years, with the company advancing insufficient investment funds. They used a scheme of using later funds to pay earlier ones, calculating annual returns ranging from 32.14% to 188.39%, which were clearly disproportionate interest rates, attracting people to invest over 4.5 billion NTD.
The case was investigated by a special task force composed of the Investigation Bureau, the Central Anti-Crime Center of the Criminal Investigation Bureau, and local police departments from Taichung, New Taipei, Taoyuan, Kaohsiung, Tainan, Hsinchu County, Nantou County, Changhua County, Taitung County, and Yilan County, under the command of the prosecutor.
After years of evidence collection, the special task force launched multiple waves of search operations in April, June, and August 2025, apprehending over 60 suspects, including Chen, system engineers, core cadres, regional branch managers, and regional cadres, for investigation.
The prosecutor estimated that there were about 3,000 victims, with over 1,000 actual reports. After investigation by the Taichung District Prosecutors Office, the case was concluded in two waves, indicting the main suspect Chen and 63 accomplices for fraud, banking law violations, and money laundering, and requesting the confiscation of criminal proceeds.
After trial by the Taiwan Taichung District Court, Chen was today sentenced to 14 years for banking law violations and 6 years for money laundering, with a combined sentence of 18 years. The other accomplices were sentenced to 8 years and 2 months to 9 years and 6 months respectively. Appeals are possible. (Editor: Li Heng-shan) 1150408
Since 2021, Chen and others held public investment briefings across Taiwan, claiming that one bid amount was 560,000, 610,000, or 760,000 NTD, and guaranteed to make up 2 million NTD after 8 years, with the company advancing insufficient investment funds. They used a scheme of using later funds to pay earlier ones, calculating annual returns ranging from 32.14% to 188.39%, which were clearly disproportionate interest rates, attracting people to invest over 4.5 billion NTD.
The case was investigated by a special task force composed of the Investigation Bureau, the Central Anti-Crime Center of the Criminal Investigation Bureau, and local police departments from Taichung, New Taipei, Taoyuan, Kaohsiung, Tainan, Hsinchu County, Nantou County, Changhua County, Taitung County, and Yilan County, under the command of the prosecutor.
After years of evidence collection, the special task force launched multiple waves of search operations in April, June, and August 2025, apprehending over 60 suspects, including Chen, system engineers, core cadres, regional branch managers, and regional cadres, for investigation.
The prosecutor estimated that there were about 3,000 victims, with over 1,000 actual reports. After investigation by the Taichung District Prosecutors Office, the case was concluded in two waves, indicting the main suspect Chen and 63 accomplices for fraud, banking law violations, and money laundering, and requesting the confiscation of criminal proceeds.
After trial by the Taiwan Taichung District Court, Chen was today sentenced to 14 years for banking law violations and 6 years for money laundering, with a combined sentence of 18 years. The other accomplices were sentenced to 8 years and 2 months to 9 years and 6 months respectively. Appeals are possible. (Editor: Li Heng-shan) 1150408