Taichung 'Dan Shui Gun' couple accused of defrauding NT$5 billion, wealth exposed

A couple who owned the popular hot pot restaurant chain 'Dan Shui Gun' in Taichung have reportedly fled to China, leaving behind a massive alleged fraud scheme. They are accused of defrauding nearly 500 investors of an estimated NT$5 billion (approximately $155 million USD).

The couple, identified by their surnames Huang and Hong, allegedly cultivated a public image of philanthropy and community involvement to build trust. They reportedly solicited funds from friends, community members, and other investors for various schemes, including real estate investments, private second mortgages, and small loans, promising stable returns.

As the restaurant chain abruptly closed and checks began to bounce, investors realized they had been deceived. Many reported losing their life savings or retirement funds, with individual losses ranging from hundreds of thousands to tens of millions of New Taiwan Dollars. A group of over 470 victims has formed a self-help association to pursue their claims.

Investors have initiated legal proceedings, including filing for provisional seizure of the couple's extensive property holdings. Reports indicate the couple, along with their two children, own over 20 properties, including high-value residences and land in Taichung's prestigious Seventh Redevelopment Zone and Nantun District. Investigators are focusing on the flow of funds and how these assets were acquired, suspecting they are linked to the alleged fraudulent activities.

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The couple relied on their years of ruthlessly feeding on 'human blood steamed buns' to accumulate wealth of over 20 properties. Their charitable persona instantly collapsed.