Investment Scam in Taiwan Rakes In Over US$300 Million
Over 13,000 people have lost money in Taiwan's biggest ever case of financial fraud. Twelve asset managers are facing charges of aggravated fraud.
Transcript
00:00 Twelve asset managers have been charged in Taiwan's largest ever financial fraud case.
00:07 Executives from two subsidiaries of Chinese developer CIFI are accused of luring investors
00:12 with false promises of high returns. Over 13,000 people are thought to have lost a total
00:18 of more than 300 million US dollars. The executives are also accused of illegally sending money
00:24 between their subsidiaries.