Gang Scam Ring Poses as Financial Experts to Swindle Over 100 Million Yuan; Criminal Investigation Bureau Arrests 20 Suspects
A fake investment scam ring controlled by the Bamboo Union gang stole over 106 million NTD from 36 victims by impersonating financial experts on social media. Police arrested 20 suspects.
📋 Article Processing Timeline
- 📰 Published: April 15, 2026 at 17:00
- 🔍 Collected: April 15, 2026 at 17:31 (31 min after Published)
- 🤖 AI Analyzed: April 19, 2026 at 11:51 (90h 19m after Collected)
Central News Agency
(Central News Agency reporter Huang Li-chen, Taipei, 15th) A fake investment scam ring controlled by Bamboo Union gang cadres surnamed Chen and Yao allegedly usurped the names of well-known financial experts to place online advertisements to deceive the public. It is known that 36 people fell victim, with total financial losses exceeding 100 million NTD. The Criminal Investigation Bureau tracked down and arrested 20 suspects.
The Criminal Investigation Bureau held a press conference on the case today. Lin Han-long, deputy commander of the Seventh Investigation Corps, stated that a "money mule" was recently arrested in Yilan. Tracing the source revealed a fake investment scam ring controlled by a criminal gang. They stole the photos and identity of financial expert Li Shu-fang to place ads on major social platforms, inducing the public to join a certain investment company's LINE group.
At the same time, gang members posed as "investment assistants" and offered daily greetings, using deceptive pitches about high profits and accurate inside information to guide group members into downloading fake investment APPs. They tricked victims into investing more funds and handing over cash in person.
When victims tried to withdraw their investment profits, the scam ring made excuses and demanded more funds to redeem the principal and interest. The victims only realized they had been scammed when they consistently failed to retrieve their money.
After tracking the scam ring's money flow and analyzing relevant data, the police task force discovered that the gang had been defrauding people from September 2024 until the end of last year. Their physical money laundering center was located in Luzhou District, New Taipei City, and was actually a stronghold of the Bamboo Union gang's Tianlong branch.
Initial findings show that there are about 36 victims in this case, with total financial losses reaching over 106 million yuan. Among them, a woman in her 60s working in the IT sector in Taipei lost over 30 million yuan personally.
After long-term surveillance, the task force launched search and arrest operations between November and December last year and in March of this year. A total of 20 suspects were arrested in New Taipei City, Yilan County, and other places. This includes the masterminds behind the money laundering operation in Taiwan, Bamboo Union Tianlong branch cadres Chen and Yao, a mule surnamed Wang from the Ping branch, and a mule surnamed Chen from the Tiandao Meng Kaohsiung branch.
Simultaneously, the police seized 4 luxury cars, 97 packs of "Red Dragon" drug coffee, 196 packs of "Aape" drug coffee, 5 drug coffee capsules, as well as 2 bill counters, 1 gang lion head, 2 stronghold plaques, and 3 long swords as evidence.
Following interrogations, the case was transferred to the New Taipei District Prosecutors Office for investigation under charges including the Organized Crime Prevention Act, fraud under the Criminal Code, the Fraud Crime Hazard Prevention Act, and the Money Laundering Control Act. Three of the suspects were detained incommunicado, while the others were released on bail ranging from 10,000 to 50,000 yuan. (Editor: Chang Ya-ching)
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(Central News Agency reporter Huang Li-chen, Taipei, 15th) A fake investment scam ring controlled by Bamboo Union gang cadres surnamed Chen and Yao allegedly usurped the names of well-known financial experts to place online advertisements to deceive the public. It is known that 36 people fell victim, with total financial losses exceeding 100 million NTD. The Criminal Investigation Bureau tracked down and arrested 20 suspects.
The Criminal Investigation Bureau held a press conference on the case today. Lin Han-long, deputy commander of the Seventh Investigation Corps, stated that a "money mule" was recently arrested in Yilan. Tracing the source revealed a fake investment scam ring controlled by a criminal gang. They stole the photos and identity of financial expert Li Shu-fang to place ads on major social platforms, inducing the public to join a certain investment company's LINE group.
At the same time, gang members posed as "investment assistants" and offered daily greetings, using deceptive pitches about high profits and accurate inside information to guide group members into downloading fake investment APPs. They tricked victims into investing more funds and handing over cash in person.
When victims tried to withdraw their investment profits, the scam ring made excuses and demanded more funds to redeem the principal and interest. The victims only realized they had been scammed when they consistently failed to retrieve their money.
After tracking the scam ring's money flow and analyzing relevant data, the police task force discovered that the gang had been defrauding people from September 2024 until the end of last year. Their physical money laundering center was located in Luzhou District, New Taipei City, and was actually a stronghold of the Bamboo Union gang's Tianlong branch.
Initial findings show that there are about 36 victims in this case, with total financial losses reaching over 106 million yuan. Among them, a woman in her 60s working in the IT sector in Taipei lost over 30 million yuan personally.
After long-term surveillance, the task force launched search and arrest operations between November and December last year and in March of this year. A total of 20 suspects were arrested in New Taipei City, Yilan County, and other places. This includes the masterminds behind the money laundering operation in Taiwan, Bamboo Union Tianlong branch cadres Chen and Yao, a mule surnamed Wang from the Ping branch, and a mule surnamed Chen from the Tiandao Meng Kaohsiung branch.
Simultaneously, the police seized 4 luxury cars, 97 packs of "Red Dragon" drug coffee, 196 packs of "Aape" drug coffee, 5 drug coffee capsules, as well as 2 bill counters, 1 gang lion head, 2 stronghold plaques, and 3 long swords as evidence.
Following interrogations, the case was transferred to the New Taipei District Prosecutors Office for investigation under charges including the Organized Crime Prevention Act, fraud under the Criminal Code, the Fraud Crime Hazard Prevention Act, and the Money Laundering Control Act. Three of the suspects were detained incommunicado, while the others were released on bail ranging from 10,000 to 50,000 yuan. (Editor: Chang Ya-ching)
Stand with the facts; every sponsorship you make is the power to protect press freedom.
Download the Central News Agency "First Hand News" APP to grasp the latest news instantly.
The text, pictures, and audio/video on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.