Taiwanese Host Chen Hong Reveals He Lost $920,000 in Investment Scam

Taiwanese TV host Chen Hong, known for his warm on-screen persona, revealed a devastating personal setback involving a significant financial scam. The incident occurred when Chen, whose focus was on his career in Shanghai, sought to improve his elderly mother's living conditions by purchasing a new home with an elevator. He was introduced to an investment opportunity in "new stock" by a Taiwanese friend, who guaranteed it would be listed within three months. Trusting this assurance, Chen mortgaged his property and transferred his life savings of around NT$30 million (US$920,000) overseas to an offshore account in the British Virgin Islands. However, the promised three months stretched into three years with no sign of the stock listing, revealing the scheme as a fraud. Further investigation uncovered that the company's purported founder was a woman previously wanted in Taiwan for fraud. Chen Hong endured a lengthy legal battle, eventually being cleared, but the immense financial loss left a lasting scar. He was ultimately able to overcome the crisis with assistance from his father. Chen Hong urged others to avoid similar investment scams, emphasizing the danger of greed. Beyond the financial hardship, Chen also shared past health struggles due to long-term painkiller use, which affected his immune system. His current primary concern is the health of his 84-year-old mother, who recently suffered a spinal fracture from a fall and shows signs of dementia. This led Chen to grapple with the decision of whether she should undergo high-risk surgery, ultimately choosing to respect her wishes for a less painful, happier life. He expressed his deep love and dependence on his mother, stating he wouldn't know how to live without her.

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I hope I am the last victim, and no one else will be fooled by similar investment tactics. You cannot be greedy!