Vic Chou and Wife Reen Yu Swindled for Over a Million US Dollars by Insurance Agent

Vic Chou
Vic Chou and Reen Yu
Photo: Vic Chou and his wife Reen Yu / Weibo

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.

In 2018, Reen reportedly invested in a six-year high value savings insurance from a certain 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. Feng has allegedly been prosecuted for five counts of fraud.

Source: 1


  1. HL- Hoh Liu

    August 2, 2022 4:32 AM
    • Lisa

      August 2, 2022 11:04 AM
      • Anon

        August 2, 2022 5:44 PM
      • HL- Hoh Liu

        August 4, 2022 12:47 PM
  2. XZF

    August 2, 2022 6:07 PM
    • Joni

      August 4, 2022 7:45 AM
      • HL- Hoh Liu

        August 4, 2022 12:49 PM
  3. Anon

    August 3, 2022 12:10 AM
  4. Wowo

    August 3, 2022 8:08 AM

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