Taiwan investors cheated out of US$77 million in internet scam

Channel News Asia
Date: 15 Sep 2015

TAIPEI: A suspected fake online marketing company that claims to have Google and

Taiwanese banknotes AFP PHOTO/PATRICK LIN

Taiwanese banknotes AFP PHOTO/PATRICK LIN

Yahoo among its business partners has cheated thousands of Taiwanese investors out of a total of Tw$2.5 billion (US$77 million) since last year, authorities said Tuesday (Sep 15).

OurPPC, which calls itself a pay-per-click management company, offered individuals the chance to invest in Internet search keywords, saying they could earn up to a 23 per cent return within 50 days, the Ministry of Justice’s investigation bureau said.

In a bid to increase the number of investors, the group also organised a tour to Macau in July for anyone who had put US$10,000 into the scheme, and as many as 2,400 people signed up, investigators said.

“According to our information on hand, we can’t assert the company actually exists,” an official in the bureau’s economic crime department told AFP Tuesday. He added that the amount of money obtained through the suspected fraudulent scheme could be even higher.     [FULL  STORY]

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