Prosecutors indict lawyer and Just Tech chairman in 54 million TWD fraud case

Prosecutors have indicted five individuals, including lawyer Chen Yu-hsuan and Li Yi-ru, for a fraudulent scheme that defrauded Jun Chang Investment of 54 million TWD in interest payments.

The group allegedly used a “hand-to-mouth” tactic by claiming they could secure a 200 million TWD loan for the investment firm at a 12% annual interest rate. Instead, they manipulated a securities company to issue a 200 million TWD loan to Jun Chang, which the perpetrators then diverted to various bank accounts. Over three years, the victim paid approximately 54 million TWD in interest, only to recover about 11.72 million TWD after the scam was uncovered.

Additionally, Xu Ting-zhen, the chairman of listed company Just Tech, has been indicted for allegedly providing shell companies and financial accounts to facilitate the movement of the fraudulent funds.