Taipei Times
Date: Dec 23, 2018
By: Jason Pan  /  Staff reporter

Executives of a real-estate investment company are being investigated for persuading Taiwanese to purchase international properties that allegedly led investors to lose a total of NT$1.2 billion (US$38.96 million).

Police and Ministry of Justice Investigation Bureau agents on Thursday raided the eight offices of Asia Pacific International Property Co and Web site Taiwan SouFun, an Asia Pacific affiliate, serving the executives with summons for questioning.

On Friday, Asia Pacific owner Huang Tsui-ping (黃純萍), chief operating officer Lu Wei-hsing (呂威興), executive director Chin Chi-sung (秦啟松) and overseas sales manager Chen Mei-hsuan (陳美璇), as well as Yang Chien-chieh (楊建傑) and his wife, Liao Hsiu-min (廖秀敏), who together operated Taiwan SouFun, were questioned, Taipei prosecutors said.

The executives are suspected of financial fraud and breaching the Banking Act (銀行法), the prosecutors said, adding that they would likely bring other charges as well.
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