Taiwan anti-corruption chief loses $42,000 to Douyin investment scam

The head of the Yunlin County Government's anti-corruption office, Xing Qichun, lost NT$1.37 million (approximately $42,000 USD) after being deceived by investment scams promoted on the social media platform Douyin.

The scheme began in February last year when Xing clicked on fake investment advertisements on Douyin, subsequently joining LINE groups and adding contacts who posed as financial professionals. He was lured by promises of guaranteed profits and steady returns, leading him to agree to invest.

In early March, Xing transferred NT$420,000 to an accomplice's account. Later that month, a woman identified as a "cash courier" met Xing in person to collect NT$950,000 in cash. The courier presented forged "work permits" and "deposit certificates" from a company called "Tong An Investment Co., Ltd."

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She received NT$4,000 as her fee for delivering the illicit funds to the higher-ups in the fraud ring.

The courier, identified as Ms. Qiu, was later sentenced by the Yunlin District Court to 1 year and 6 months in prison. The court found that she received NT$4,000 as her fee for delivering the illicit funds to the higher-ups in the fraud ring. The court cited her youth and ability to work, noting her choice to pursue quick, unearned money through criminal means, which contributes to the prevalence of fraud.

Another individual, Mr. Peng, who received the initial NT$420,000 transfer, was sentenced to 2 years and 4 months in prison. He appealed the decision, but it was upheld by the Taiwan High Court's Kaohsiung Branch. Peng, who has a prior fraud conviction, is currently working in construction and has a modest family income, and has not reached a settlement with the victim.

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She chose to pursue quick, unearned money through criminal means, which contributes to the prevalence of fraud.