Prosecutors yesterday said that they have indicted 31 people in connection with the collapse of NT$9 billion (US$282.27 million) peer-to-peer lending platform im.B.
Five of the 31 had been detained, including Tseng Kuo-wei (曾國緯) and Chang Shu-fen (張淑芬), the couple who founded im.B in 2015, the Taipei District Prosecutors’ Office said in a statement.
From June 29, 2015, to May 2 this year, im.B acquired NT$9.09 billion from lenders by promising annual returns of 9 to 13 percent, prosecutors said.
Photo: CNA
However, the vast majority of investors im.B listed were fake profiles set up by the company itself, with the platform initially covering payments using money taken from new investors, they said.
The company stopped making payments in April, and on May 3, the Ministry of Digital Affairs ordered it to shut down.
Following an investigation, prosecutors indicted Tseng, Chang and the 29 others on a slate of charges, including contraventions of the Banking Act (銀行法), the Organized Crime Prevention Act (組織犯罪防治條例) and the Money Laundering Control Act (洗錢防制法).
Entertainer Sheng Chu-ju (盛竹如), who appeared in advertisements promoting im.B, was not indicted due to a lack of evidence, prosecutors said.
In an interview on May 2, Sheng said that he had taken part in an unpaid photoshoot arranged by his agent and had been unaware that his image would be used in promotional materials for im.B.
A Criminal Investigation Bureau official accused of accepting commissions from im.B would not face criminal charges, prosecutors added.
The bureau official, surnamed Tsao (曹), invested more than NT$12 million in im.B and received a 1 percent commission after persuading his father and wife to lend money via the platform, they said.
While Tsao’s actions did not constitute criminal behavior, he could still face disciplinary action for breaching codes of conduct for public servants, prosecutors said.
Meanwhile, prosecutors said that they would continue a probe into allegations that Vice Premier Cheng Wen-tsan (鄭文燦) and former Democratic Progressive Party legislator Chen Ou-po (陳歐珀) had close ties to Tseng.
Additional reporting by Wu Cheng-ting
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