It appears Vic Chou and his wife Reen Yu were scammed out of a whopping NTD 34.47 million (approximately US$ 1.1M) in an insurance fraud. What’s worse is that the person who took advantage of their trust is someone they considered a friend!
In 2018, Reen reportedly invested in a six-year high value savings insurance from her friend Feng requiring her to pay a premium of more than 6.84 million per instalment. Originally, the amount was supposed to be automatically debited from their account. However, Feng cunningly managed to persuade her to pay the amount in cash instead, claiming that a periodic transfer of 6.84 million might be flagged for money laundering or might lead to an investigation by tax authorities.
Feng’s ploy continued on for a few years with her pretending to pay the insurance company the cash amount she personally collected from Reen. It wasn’t until last year that the deception was discovered when Reen received a notification from the insurance company reminding her to pay. At the time, Feng managed to pass it off as an accounting glitch. However, when Reen once again received another notice despite already handing over another instalment, she finally contacted the company to investigate her case. Turns out Feng hasn’t exactly been handing over the cash premiums she collected and that Reen actually owed the insurance company years in back pay.
Meanwhile, as the story began to trend online, Vic’s management responded to queries saying that the fraud case against Feng has already been handed over to their lawyers and that the justice system has full authority. They also thanked everyone for their concern. As for Reen’s ex-friend, Feng has allegedly been prosecuted for five counts of fraud.