Taiwanese Couple Accused of Swindling Billions Flees to China; Passports Canceled

A couple operating the hot pot chain "Danshurguo" in Taiwan has allegedly defrauded over 500 investors of more than 5 billion NT dollars (approximately $150 million USD). The couple, identified by their surnames Huang and Hong, fled to China with their two children in late May and have not returned.

Authorities in Taichung have issued arrest warrants for the couple and canceled their passports. The investigation is ongoing, with efforts focused on their apprehension. The couple, particularly the 50-year-old Hong, known as "Ding Dang Jie," built a reputation for offering high, stable profits through various businesses, including real estate investments, loans, a travel agency, and the hot pot restaurants.

They cultivated a strong local network and image, often participating in charitable activities. Investors, including employees and local figures, were drawn to the attractive interest rates. Some victims reported receiving regular cash payments, which initially built trust. However, payments abruptly stopped in May, and the couple became unreachable, leading to the discovery of the alleged fraud.

Initial estimates suggest over 500 victims, with individual losses ranging from hundreds of thousands to tens of millions of NT dollars. Some victims have formed support groups and filed fraud complaints. The Taichung District Prosecutors Office is actively pursuing the couple, who are believed to be in China.

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The couple, surnamed Huang and Hong, are accused of defrauding over 500 investors of more than 5 billion NT dollars.