Taipei, June 16 (CNA) — The Taipei District Prosecutors Office has indicted six individuals, including Lo Pei-wen (羅佩雯), in a fraud and money laundering case involving nearly NT$5 billion (US$169.3 million) allegedly stolen from Shen Yu-hsiung (沈裕雄), the late chairman of Taiya Group.
The indicted group also includes Cheng Chun-chun, Yang Kuo-lung, Hsieh Tsung-han, Lo Wen-chieh, and Chan Yi-ling, according to the prosecutors.
Lo, who has a prior conviction for fraud related to plane ticket arbitrage, allegedly revived her criminal activities in 2015 after facing financial strain. She reportedly launched a Ponzi-like scheme, defrauding 10 early investors of NT$525 million and repaying them with money from later victims.
After meeting Shen through Cheng, Lo allegedly orchestrated a massive scam that swindled the chairman of over NT$4.88 billion, using Cheng’s personal bank accounts to funnel the money. Additionally, between July 2022 and February 2023, Lo allegedly defrauded Shen of another NT$54.5 million and US$7.14 million, claiming she could help him invest in immigration programs in the UK, Australia, and Mexico.
Shen passed away in October 2023, and his family uncovered the fraud while attempting to reconcile his accounts.
Lo is also accused of laundering funds through her ex-husband Hsieh Tsung-han, who used the illicit proceeds to purchase real estate and open a restaurant in Australia. Her brother Lo Wen-chieh and sister-in-law Chan Yi-ling allegedly received funds through fake loan agreements to support similar ventures.
In an attempt to recover assets, Taiwan’s Shilin Branch of the Administrative Enforcement Agency auctioned off 130 luxury items seized from Lo, raising NT$21.41 million across two sales in May and June.
The case has now been transferred to the Taipei District Court for further proceedings.
