Taipei Prosecutors Detain 9, Including COO, in Absolute Energy Pyramid Scheme Case
Taipei prosecutors are investigating the 'Absolute Energy' pyramid scheme, which allegedly defrauded investors of NT$277.3 million by promising high returns on virtual currency and clean energy investments. The group also enticed nearly a thousand people to invest over NT$5 billion in virtual currencies EGT and TBT through a DEFI lending platform. Prosecutors have indicted 17 individuals and continue to detain key figures.
📋 Article Processing Timeline
- 📰 Published: April 9, 2026 at 19:45
- 🔍 Collected: April 9, 2026 at 20:00 (15 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 18:56 (142h 56m after Collected)
Taipei prosecutors stated that starting from March 2023, this group established websites 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 as proof, attracting investors to inject funds, illegally raising up to NT$277.3 million.
Prosecutors indicated that the dividends received by the victims in this case all came from the principal of other investors, a 'robbing Peter to pay Paul' scam model, with the number of victims reaching 316.
Starting from August last year, Taipei prosecutors launched multiple search and detention operations, applying to the Taipei District Court for the detention and prohibition of communication for 10 individuals, including Chiu Chih-hao, which was granted. In December of the same year, the entire case was concluded, and 17 individuals, including Chiu Chih-hao, were indicted for fraud under the Anti-Fraud Crime Harm Prevention Act (three or more people jointly disseminating fraud for property through the internet to the public), as well as violations of the Banking Act, Securities Exchange Act, and money laundering. After the case was transferred to the court, the court ruled that Chiu was released on bail.
Subsequently, Taipei prosecutors further discovered 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. The group then used these virtual currencies for external lending, claiming an average monthly interest rate of 3% to 7%. Over four years, nearly a thousand people were defrauded of over NT$5 billion. In January this year, Taipei prosecutors detained 9 individuals, including Chiu, and again obtained approval for Chiu's detention and prohibition of communication.
Taipei prosecutors continue to investigate this case. Today, they directed the Taipei City Investigation Office of the Ministry of Justice Investigation Bureau and the Daan Precinct of the Taipei City Police Department to execute search warrants issued by the court, searching 9 residences of 9 individuals, including the COO surnamed Li. They also detained these 9 defendants for questioning and will successively transfer them to the Taipei Prosecutors' Office for further questioning tonight and tomorrow. (Edited by Chang Ya-ching) 1150409
Prosecutors indicated that the dividends received by the victims in this case all came from the principal of other investors, a 'robbing Peter to pay Paul' scam model, with the number of victims reaching 316.
Starting from August last year, Taipei prosecutors launched multiple search and detention operations, applying to the Taipei District Court for the detention and prohibition of communication for 10 individuals, including Chiu Chih-hao, which was granted. In December of the same year, the entire case was concluded, and 17 individuals, including Chiu Chih-hao, were indicted for fraud under the Anti-Fraud Crime Harm Prevention Act (three or more people jointly disseminating fraud for property through the internet to the public), as well as violations of the Banking Act, Securities Exchange Act, and money laundering. After the case was transferred to the court, the court ruled that Chiu was released on bail.
Subsequently, Taipei prosecutors further discovered 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. The group then used these virtual currencies for external lending, claiming an average monthly interest rate of 3% to 7%. Over four years, nearly a thousand people were defrauded of over NT$5 billion. In January this year, Taipei prosecutors detained 9 individuals, including Chiu, and again obtained approval for Chiu's detention and prohibition of communication.
Taipei prosecutors continue to investigate this case. Today, they directed the Taipei City Investigation Office of the Ministry of Justice Investigation Bureau and the Daan Precinct of the Taipei City Police Department to execute search warrants issued by the court, searching 9 residences of 9 individuals, including the COO surnamed Li. They also detained these 9 defendants for questioning and will successively transfer them to the Taipei Prosecutors' Office for further questioning tonight and tomorrow. (Edited by Chang Ya-ching) 1150409
FAQ
What is the Absolute Energy pyramid scheme case?
The Absolute Energy pyramid scheme case involves a group that illegally raised funds by falsely claiming to invest in virtual currencies and clean energy, promising high returns. The total amount defrauded exceeds several billion NT dollars.
Who has been arrested in connection with this case?
Taipei prosecutors have indicted 17 individuals, including Chiu Chih-hao, and have further detained 9 people, including a COO surnamed Li, in connection with this case.