NTU student pretends to be a "professional futures trader" and loses 55.5 million to acquaintances, even ending up in the red! The police officer father abuses authority to help his son settle the matter

A top student from NTU claims to have “professional overseas trading” qualifications, secretly absorbing familiar people’s funds to operate overseas futures trading. In just over a year, he managed over 55.5 million yuan in principal but lost it all, also involving his father, a police officer, who helped him cover debts illegally.
(Background recap: Taiwanese biotech boss went all-in on cryptocurrency and was scammed out of 50 million! He was then coerced into mortgaging his house to “recoup” losses)
(Additional background: In 2026, people are still arguing whether “stablecoins are like EasyCards,” how much more nonsense will Taiwan’s traditionalists spout?)

NTU’s bold student also took big risks. The Shilin District Prosecutors recently concluded an illegal operation combining illegal trading management and police misconduct in an investment fraud case. The defendant, 27-year-old Li, a NTU graduate, is accused of claiming to hold a “U.S. futures manager license” from February 2022 to April 2023. He portrayed himself as a “professional trader” specializing in overseas futures, but in reality, he never obtained the futures manager license issued by the Financial Supervisory Commission, illegally raising funds to operate.

According to the indictment, Li targeted acquaintances and used the excuse of “having overseas futures short-term trading experience and impressive performance” to attract six creditors and friends, including two creditors Liu and Cao, NTU senior Luo, cram school manager Chen, Aunt Chen, and a friend introduced by Liu. He provided accounts at Cathay United Bank and China Trust Bank, requesting transfers of funds, then used his futures account to place trades.

During the fund operations, he is accused of altering transaction details to create a false impression of “continuous profits,” but in reality, the investments kept losing money. Prosecutors believe that the total funds involved exceeded 55 million yuan, but not only did he fail to profit, he ultimately lost about 8.48 million yuan.

By October 2023, Li Youjie admitted that his futures trading “had been completely lost,” and investors immediately filed lawsuits, bringing the case to light.

The Shilin District Prosecutors charged Li Youjie with violations of the Futures Trading Act and fraud.

Police father “protected the creditor” by logging into police systems to check personal info

The case further involved the defendant’s father. Li Jinshan, Li’s father, was a senior squad leader in the Investigation Unit of the Wanhua Precinct, Taipei City. When his son suffered investment losses and creditors pursued repayment, between October and November 2023, he falsely claimed to be “performing criminal-related duties” and repeatedly logged into police systems to check the personal data of creditors Liu and Cao.

Later, father and son met with the creditors at a café and a nightclub in Zhongshan District, Taipei City, to discuss debt repayment. During the process, Li Jinshan repeatedly hinted that he knew the background of the other party. According to the court ruling, he directly told Liu, “I know your dad is from Keelung, nickname Ah Fu,” and pretended to be familiar with Liu’s sister, accurately stating Liu’s birth date and address, and even said, “I know where you live,” creating an information advantage to pressure them.

Before the case was officially exposed, Li Jinshan learned he was reported to the authorities and chose to retire early on July 16, 2024. However, the Shilin District Court still sentenced him to 2 years in prison, with a 3-year probation, and ordered him to pay 200,000 yuan to the public treasury for the crime of illegally collecting personal data under the pretext of official duties. Regarding administrative responsibility, the disciplinary court imposed a fine of 100,000 yuan.

Investors should seek legitimate third-party operators, such as licensed fund management or investment consulting firms authorized by the Financial Supervisory Commission, to ensure legal operation.