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PH submits suspect in NT$200 million investment scam to Taiwan authorities

The Philippines on Thursday (April 30) handed over and set a flight back to Taiwan for the  woman wanted for alleged involvement in a NT$200 million (US$6.72 million) financial scandal.

Because of  coronavirus scare, the suspect named, Tu Kai-ling was urged to accept her return to Taiwan to cooperate with the investigation after residing in the Southeast Asian country for years, reported CNA.

Tu said that from April to November 2016, together with her brother and her husband, they developed a subsidiary and  growing DoubleDragon group  in Taiwan.

According to CNA, the suspects also introduced "Buffalo Island" where they promised a solid return to investors. In just a year, the they succeeded in attracting NT$200 million worth of investments in violation of Taiwanese banking laws.

While in the middle of investigation, Tu went to Shanghai on October 26, 2016 and moved to the Philippines three year slater after obtaining an investment visa.

The Ministry of Justice Investigation Bureau and the immigration services of both Taiwan and the Philippines cooperated to monitor Tu’s movements and finally, on Feb. 17, the authorities struck and arrested the Taiwanese woman. However, her brother was still on the run.

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