Authorities have arrested the head of a biotech firm in an edible soap fraud case. The company allegedly gathered around US$16 million in fraudulent investments and sales since 2017.
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00:00Authorities are cracking down on a soap pyramid scheme in southern Taiwan.
00:04A Taiwanese biotech firm allegedly claimed its bar soap can improve scars and is the
00:09only edible soap in the world.
00:12For seven years, it held investment briefings across the country, promising monthly cash
00:16returns and overseas trips to investors.
00:19Authorities say the company received about US$16 million from its victims.
00:24Police have arrested the company head on charges of fraud and one executive has been released
00:29on bail.
00:30Police are still confirming the number of victims and the total financial damages.
00:34What they are good at is to tell the victims to mortgage their houses, and the money they
00:43mortgaged can be used to continue the investment.