Online get-rich scheme scams $302 million: Taiwan ministry

Asia One
Date:  Sep 17, 2015

TAIPEI, Taiwan – Forex Youth Corps., an online war game platform, was revealed as an

Photo: The New Paper

Photo: The New Paper

elaborate scam yesterday according to the Ministry of Justice’s (MOJ) Taipei City Investigation Bureau, and is reported to have scammed at least NT$7 billion ($302 million).

The investigation bureau had been receiving reports about a man surnamed Wu, who called himself “Optimus Prime,” a character from the Transformers franchise, since March. Wu wrote his own online game plugin programs, and marketed himself as a “professional forex dealer” to form the Forex Youth Corps.

Wu stated through his promotions in Facebook groups and through direct sales that joining the platform would earn high-profit returns. The get-rich scheme attracted students and young people with generally no experience. Scams reached at least NT$7 billion.

Other methods that the scamming group attempted included sharing information about their luxury life styles and experiences from using the platform on Facebook, ranging from traveling abroad to buying high-priced race cars and motorcycles.     [FULL  STORY]

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