CIB breaks up fraudulent group with religious slant


The China Post news staff

TAIPEI, Taiwan — The Criminal Investigation Bureau yesterday dismantled a fraud ring that had falsely promised annual compounded benefits of up to 20 percent of investments. According to the CIB, the group had promised its clients monthly incentives in the forms of deposit remittances, cash and merchandise credits in an attempt to draw more victims. The police also found that the fraud ring had employed various measures to motivate its victims to draw their families and friends into the scam, including cross-department competitions, generous prizes for leading sales results and rookie of the year awards.

The fraud ring employed manipulation measures of a religious nature in penalizing poor performers. Some members were forced to copy scripture by hand, and told that their poor performances were due to “bad karma.”

The paper companies set up by the fraud ring however stopped paying out benefits at the end of last year, citing regulatory changes and system glitches.