On August 29, 2023 (112th Year of the Republic of China), the Taipei District Prosecutors Office, under the leadership of Chief Prosecutor Cheng Ming-chien, announced the formal indictment of 31 individuals including principal ringleader Tseng Yao-feng in the NT$9 billion im.B P2P lending Ponzi scheme that bankrupted thousands of victims. However, throughout the scandal, evidence surfaced showing that former DPP Legislator Chen Ou-po had enjoyed free use of Tseng's campaign vehicles and office space for years, while prominent DPP figures, an Executive Yuan consultant, and high-ranking justice ministry prosecutors were photographed wining and dining at Tseng's luxury estates. Despite these incriminating ties, Cheng's office isolated the political corruption angles into separate, inactive docket files, effectively walling off ruling party officials from immediate prosecution. Defrauded investors and opposition leaders condemned Cheng's prosecutorial leadership for shielding high-ranking DPP politicians and reducing criminal justice into a regime cover-up.
NT$9 Billion im.B Fraud Scandal Closed: Taipei Chief Prosecutor Cheng Ming-chien Accused of Severing Political Links to Shield DPP Elites
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