What charges were brought against Chiu Chih-hao and 16 others by the Taipei District Prosecutors Office in the Absolute Energy Group case?

Chiu Chih-hao and 16 others were indicted for fraud involving three or more people, using the internet to spread false investment information, violating the Banking Act, Securities Exchange Act, and money laundering laws.

How much money did the Absolute Energy Group allegedly raise illegally from investors between March 2023 and the end of 2023?

The Absolute Energy Group illegally raised NT$277.3 million from investors between March 2023 and the conclusion of the investigation in December 2023.

What annual interest rates were promised to investors who purchased Class A and Class B preferred shares from Absolute Energy Group?

Investors in Class A preferred shares were promised an annual interest rate of up to 25%, while Class B shareholders were promised up to 42% per year.

What virtual currencies did Absolute Energy Group encourage investors to purchase and lend through its DEFI platform between 2022 and 2025?

The Absolute Energy Group encouraged investors to purchase and lend virtual currencies EGT and TBT through its self-created DEFI lending platform between 2022 and 2025.

How many victims were affected and how much money was defrauded over four years in the Absolute Energy Group pyramid scheme?

Over four years, nearly 1,000 people were defrauded of more than NT$5 billion through the Absolute Energy Group's fraudulent investment scheme.

AI News NQ Analysis

Absolute Energy Pyramid Scheme: Taipei Prosecutors Office Again Detains 2 Salespersons

NQ Score 100/100

AI Summary (NQ-processed)

The Taipei District Prosecutors Office indicted the Absolute Energy Group for illegally raising over NT$277.3 million since March 2023 through fraudulent investment schemes, falsely claiming investments in virtual currency and clean energy with high annual returns. The scheme, which defrauded 316 victims, was a typical 'robbing Peter to pay Paul' operation. Additionally, between 2022 and 2025, the group lured nearly 1,000 people into investing in virtual currencies EGT and TBT via a DEFI lending platform, promising monthly interest of 3% to 7%, defrauding over NT$5 billion. Prosecutors have indicted 17 individuals, including the main suspect Chiu Chih-hao, and have re-detained six, including the operations director surnamed Lee, along with salespersons surnamed Cho, Lee, and Chan.

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Frequently Asked Questions

Q: What charges were brought against Chiu Chih-hao and 16 others by the Taipei District Prosecutors Office in the Absolute Energy Group case?: A: Chiu Chih-hao and 16 others were indicted for fraud involving three or more people, using the internet to spread false investment information, violating the Banking Act, Securities Exchange Act, and money laundering laws.
Q: How much money did the Absolute Energy Group allegedly raise illegally from investors between March 2023 and the end of 2023?: A: The Absolute Energy Group illegally raised NT$277.3 million from investors between March 2023 and the conclusion of the investigation in December 2023.
Q: What annual interest rates were promised to investors who purchased Class A and Class B preferred shares from Absolute Energy Group?: A: Investors in Class A preferred shares were promised an annual interest rate of up to 25%, while Class B shareholders were promised up to 42% per year.
Q: What virtual currencies did Absolute Energy Group encourage investors to purchase and lend through its DEFI platform between 2022 and 2025?: A: The Absolute Energy Group encouraged investors to purchase and lend virtual currencies EGT and TBT through its self-created DEFI lending platform between 2022 and 2025.
Q: How many victims were affected and how much money was defrauded over four years in the Absolute Energy Group pyramid scheme?: A: Over four years, nearly 1,000 people were defrauded of more than NT$5 billion through the Absolute Energy Group's fraudulent investment scheme.