Taiwan prosecutors indict green-energy firm and 25 over NT$219 million investment scam
The Taipei District Prosecutors Office charged Farxun E-commerce, its CEO Hsieh and 24 others with illegal public deposits and fraud totaling over NT$219 million.
Taipei prosecutors have filed an indictment against Farxun E-commerce Co., Ltd. (華訊電能), its CEO Hsieh, CFO Wu and 24 others for allegedly operating a fraudulent investment scheme that collected over NT$219 million from the public. The scheme marketed a “FAFAGO Green Energy EV Charger” product, promising a guaranteed monthly return of NT$3,520 and a buy-back price after three years, even though fewer than 200 chargers were installed in 2024.
Investigators allege the firm diverted investor money to pay sales bonuses, compensate earlier investors, and transferred portions to affiliated companies and personal accounts to hide the proceeds. The company’s de facto head, Chen, could not be located and has been placed on a wanted list. Charges include illegal public deposits under the Banking Act, aggravated fraud and money-laundering, with prosecutors requesting a sentence exceeding 16 years for Hsieh, who maintains his innocence.
Why it matters
The case highlights risks of fraudulent green-energy investments and could erode public confidence in similar projects.
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