TDPO Prosecuted Fraud Case Victimizing Philippine Company Successfully Froze NTD 40 Million Cryptocurrency with Continuing International Cooperation

Taiwan Taoyuan District Prosecutors Office(TDPO) Prosecutor Jane Jung, working with Criminal Investigation Bureau, Ministry of Interior, and Taipei City Police Department, Songshan Precinct, investigated a Taiwanese Citizen, Tung, and two Chinese citizens stealing and defrauding a Philippine Casino Group for 168 million Pesos (approx. NTD 82 million) in Philippine. Tung pleaded guilty during the investigation and the case was brought to Taiwan Taiyuan District Court in May, 2023.

Summary of Fact:

Tung, a Taiwanese citizen, had been employed by the victim, a Philippine Casino Group, to work as a cashier in Philippine since October 2022, and got acquainted with two Chinese citizens, Fatty and Hu, who talked him into stealing the Group’s working cellphones which linked to Group’s casinos accounts, and defrauding the Group’s casinos cashiers for cash.

In December 22, 2022, Tung stole form the Group Office two cellphones that linked to the Group’s casino accounts, took the vehicle driven by other two penetrators to the Group’s two casinos, and convinced the cashiers that he was assisting the Group to withdraw cash by letting Fatty operating the cellphone for verification through the cellphones on the car. Using the same methods, Tung, Fatty and Hu defrauded the Group for 168 million Pesos. Tung fled from Philippine on the same day to Taiwan.

To avoid police’s tracing, they spent 80 million Pesos (approx. 39 million NTD) to purchase Tether cryptocurrency and transferred them into several wallets in multiple layers while the rest 88 million Pesos were hidden in the Philippine territory. 

Investigation Process:

After receiving the complaint from the victims Group, CIB immediately reported to TDPO, and tool the arrest warrant issued by TDPO to arrest Tung on his arrival to Taoyuan International Airport. Tung was detained and confessed to the crime. To secure the criminal proceeds, CIB applied and was granted by the Court an Asset Freezing Order. With the cooperation of Tether Company, 117 million USDT (approx. NTD 36 million NTD) was frozen. Before prosecution was brought to the Court, about NTD 40 million was frozen by the investigation authority. Tung and his girl friend, Lin, who assisted him in money laundering,  were prosecuted by TDPO on May 4, 2023. To forfeit the whole criminal proceeds, international cooperation continues.

Offenses Prosecuted:

1.Tung—

(1)Fraud by three persons or more, Criminal Code 339-4.1(2), three counts.

(2)Money laundering, Anti Money Laundering Act 14.1, three counts.

2.Lin—Money laundering, Anti Money Laundering Act 14.1, one count.