The Beijing Inspection and Quarantine Bureau searched two companies including AXA Wealth, and the two responsible persons were detained and banned for being involved in the fraud of more than 600 million yuan.

Yesterday, the Taipei City Investigation Division of the Taipei City Investigation Bureau of the Beijing Inspection Bureau was divided into 10 teams to search the residences of the two companies, the persons in charge and important cadres, and interviewed 8 people including Tu Jiahui, Lin Jiefu, businessmen, and lecturers to come to the case. (Photo by reporter Wu Shengru)

"AXA Wealth" and "AXA Capital" are suspected of launching investment plans with annual returns of up to 62% under the names of overseas real estate, Japanese Wagyu beef, green energy and art, attracting more than 200 people to invest more than 600 million yuan in eight years. The Taipei District Prosecutor's Office searched 10 locations and interviewed 8 people yesterday. After a late-night retrial, the two company leaders Tu Jiahui and Lin Jiefu were detained for violating banking laws and other crimes.

The investigation revealed that Tu Jiahui and Lin Jiefu were suspected of being trustworthy investors. They deliberately named the company "AXA" to adhere to the brand image of the world-renowned asset management group "AXA". They also called themselves "AXA Group" to the outside world and used "AMPLE" as the brand to create an image of an investment institution with a large scale and professional background and reduce investors' wariness.

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Starting from finance and blockchain investment, the two companies have further launched the "New Wealth Movement" covering taste, growth, charity, life, experience and health. They claim that their platforms can not only increase tangible monetary wealth, but also improve the quality of life and enrich physical and mental assets.

The inspection found that the investment targets packaged by the two companies were diverse, spanning virtual assets, overseas real estate, sustainable carbon economy, Japanese Ishigaki Misaki Wagyu beef, art venture capital and concert marketing, etc., and claimed that the annualized return rate ranged from 10% to 62%, thereby attracting investment from different groups.

Tu, Lin and others are suspected of soliciting investment through briefing sessions and their businesses from April 2018 to February this year. More than 200 investors have successively invested funds ranging from 30,000 yuan to more than 2 million yuan each, and the cumulative investment in eight years has exceeded 600 million yuan.

Yesterday, the Taipei City Investigation Division of the Taipei City Investigation Bureau of the Beijing Inspection Bureau was divided into 10 teams to search the residences of the two companies, the persons in charge and important cadres, and interviewed 8 people including Tu Jiahui, Lin Jiefu, businessmen, and lecturers to come to the case. After a late-night retrial, the prosecutor determined that Tu and Lin were suspected of violating banking laws and other serious crimes, and that there was a risk of colluding or destroying evidence. This morning, they applied to the court for detention and ban on sightseeing; Tu Jiahui was also restricted from leaving the country and going overseas.

Yesterday, the Taipei City Investigation Division of the Taipei City Investigation Bureau of the Beijing Inspection Bureau was divided into 10 teams to search the residences of the two companies, the persons in charge and important cadres, and interviewed 8 people including Tu Jiahui, Lin Jiefu, businessmen, and lecturers to come to the case. (Photo by reporter Wu Shengru)

Yesterday, the Taipei City Investigation Division of the Taipei City Investigation Bureau of the Beijing Inspection Bureau was divided into 10 teams to search the residences of the two companies, the persons in charge and important cadres, and interviewed 8 people including Tu Jiahui, Lin Jiefu, businessmen, and lecturers to come to the case. (Photo by reporter Wu Shengru)