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Eight indicted in NT$10 million cross-strait fraud case

Eight indicted in NT$10 million cross-strait fraud case

Taipei, March 21 (CNA) Four Chinese nationals and four Taiwanese were indicted Thursday on charges related to defrauding companies of more than NT$10 million (US$335,570) in a product procurement scam. The scam revolved around a plan that created a fake market for a type of high-tech fishing net. Posing as representatives of Chinese companies, the fraudsters allegedly first contacted some Taiwanese firms in 2012 and pretended to be seeking distributors for the fishing nets, according to the indictment issued by the Taichung District Prosecutors Office. The fraud ring later sent fake buyers to Taiwan, who pretended to have an interest in purchasing such nets in bulk, the indictment said. The Taiwan companies then placed orders with the fake Chinese suppliers, who sent them some sub-standard products. Fourteen Taiwanese companies fell for the scam, each paying NT$500,000 to NT$1 million to order the fishing nets from the fraudulent suppliers. The scam was uncovered after the victims lost contact with the fake suppliers and reported the case to the police. The four Chinese men were arrested in late 2012, when they came to Taiwan again allegedly to look for more potential victims.
(By Chen Shu-fen and Y.F. Low)


Updated : 2021-04-13 04:25 GMT+08:00