Professor loses $710,000 in burial plot investment scam

A university professor has lost 23 million New Taiwan dollars (approximately $710,000 USD) in a sophisticated investment scam involving burial plots. The elaborate fraud, orchestrated by a group linked to the Bamboo Union's Hong Ren Hui, preyed on the professor's personal and professional difficulties.

According to police, the 66-year-old professor was contacted by a suspect named Zheng in 2021. During their conversations, the scammer allegedly learned about the professor's career struggles. The group then employed a persuasive tactic, claiming that Hong Kong celebrity Nicholas Tse's resurgence in popularity was directly linked to his purchase of a burial plot.

Under the group's relentless 'brainwashing,' the professor became convinced and proceeded to purchase 14 burial plot investment certificates over a period of less than four years. His financial entanglement deepened when a salesperson contacted him again, suggesting an opportunity to sell 30 burial plots at a high price. To facilitate this supposed lucrative deal, the professor was persuaded to increase his investment to 30 plots, including additional components like inner liners and top plates, to maximize future profits.

However, when the professor attempted to cash out his investment early this year, the scammers claimed the transaction could not be completed and refused to meet. This led the professor to realize he had been defrauded and prompted him to report the incident to the police. The investigation is ongoing.