International gold prices have surged strongly in recent months, with the uptrend accelerating notably in August. Meanwhile, the Ciji Foundation’s BNT vaccine procurement has sparked controversy—not only due to a staggering $106 million fraud but also because authorities discovered over 158 kilograms of gold, valued at hundreds of millions of New Taiwan dollars, during searches of suspects including Chen Yu-shuan, former chair of the Changhua Bar Association.

On August 13, Hsieh Jin-ho, chairman of Wealth & Credit Media, posted on Facebook under the title 'Greed Knows No Limits, the Gold Frenzy Returns!'—criticizing Ciji’s governance while noting that the value of the fraudulently obtained funds has significantly increased. Comparing the average gold price of around $1,700 per ounce in 2021 to today’s $4,448, he emphasized that the illicit proceeds have appreciated substantially.

In 2021, as the world grappled with the shadow of the pandemic, Taiwan faced a severe vaccine shortage. To address this, Hon Hai (Foxconn), TSMC, and the Tzu Chi Foundation jointly procured and donated 15 million doses of the BNT vaccine. Five years later, however, an external fraud case emerged within Ciji’s procurement process. Prosecutors uncovered that Chen Yu-shuan and a group of over ten suspects—including a Mr. Li, a vaccine broker—allegedly defrauded advisory fees, cold chain logistics charges, and other costs totaling NT$10.6 billion (approximately $330 million USD).

Of particular note, since April of this year, Taipei’s Special Investigation Division has conducted multiple search and detention operations, seizing bank accounts, luxury vehicles, high-end properties, cash, and crucially, over 158 kilograms of gold—making it the most sensational piece of evidence in the case.

(CJI Vaccine Fraud Case: Authorities Seize Large Amounts of Cash – Photo provided by the Investigation Bureau)

'In places where transparency is low, gold plays an even more prominent role,' said Hsieh Jin-ho, citing the U.S. arrest of Venezuelan President Nicolás Maduro. He noted that Maduro allegedly held 127 metric tons of gold and between 60,000 to 70,000 bitcoins in Swiss bank accounts—an amount so vast it could rival a nation’s wealth, possibly derived from Venezuela’s oil revenues. Despite being the country with the world’s largest oil reserves, Venezuela’s GDP stands at just $111.2 billion, suggesting that oil revenues may have been siphoned into Maduro’s personal coffers.

Hsieh further questioned whether Venezuela might now have a chance to reverse its economic decline following Maduro’s arrest.

Regarding Ciji, Hsieh stressed that the case reflects deeper governance issues. While nations and corporations rely on boards, financial statements, and internal audit and control mechanisms, religious organizations often remain exempt from such scrutiny. As their wealth accumulates, hidden problems grow unchecked. Though many are discussing Ciji now, few are addressing the core issue of governance.

In this case, the female lawyer used her illicit gains to purchase gold. With gold averaging $1,700 per ounce in 2021 and now reaching $4,448, the 158kg (approximately 5,573 troy ounces) of gold could now be worth around NT$800 million. Thus, the fraudulent proceeds have not only been preserved but significantly multiplied. Yet, Ciji did not file a formal police report—raising questions about who ultimately owns these assets.

More exclusive scoops from Wind Media:

· This Week’s Biggest Scoop: Han Kuo-yu Furious—Asked, 'Why Didn’t You Hit Fu Kun-chi?' The Vaccine Gold Scam Gang That Defrauded Ciji of $1 Billion Once Met Master Cheng Yen

· What Does 'DPP 1 Million' Mean? Notes from the Fraudulent Lawyer Exposed—Hsu Chiao-hsin’s One-Liner Sparks Outrage

· Government Had Enough Vaccines—How Could Ciji Be Fooled? Chiang Wan-an Recalls Past Crisis: Some Want to Erase Memories, But People Won’t Forget

· How Did Ciji Lose $1 Billion? Green Camp Picks Up the Gun—Lawyer’s $600 Million in Gold Seized All at Once, Wu Tzu-chia Stunned in Commentary

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  • Source: PR Times
  • Category: News