Financier of Investment Fraud Ring Indicted; Prosecutors Seek 26+ Years

(CNA, Taipei, June 2) The 'Mele Company' fraud ring, which collaborated with telecommunications fraud hubs to swindle over NT$15.8 billion through fake investment schemes, has seen its ringleader, Ou Yu-tung, sentenced to 24 years in the first instance. The Taipei District Prosecutors Office indicted the group's financier, Wang Ching-chi, today, seeking a sentence of over 26 years due to his role as a core member and his denial of the charges. The Taipei District Prosecutors Office, through its 'Operation Slash Gold,' uncovered Taiwan's largest 'fake withdrawal' fraud ring. Last April, 80 defendants, including Ou, were indicted. Investigations revealed that the group, led by Ou and the wanted Wu Han-wei, set up over 2,230 fake investment websites to deceive victims into depositing funds, creating an illusion of profit to lure further investment. In January, Wu recruited Wang as a financier for Mele Company, agreeing to a 70/30 profit split. Prosecutors determined that although Wang did not manage operations, his capital was crucial to the group's development, and his culpability is comparable to that of Ou and Wu.