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Mystery of ‘zero risk’ online firm
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An online marketing company that claimed to have Google and Yahoo among its business partners is said to have cheated thousands of Taiwan investors out of a total of NT$2.5 billion (US$77 million) since last year, authorities said yesterday.
OurPPC, which calls itself a pay-per-click management company, offered individuals the chance to invest in Internet search keywords, saying they could earn up to a 23 percent return within 50 days, the investigation bureau of Taiwan’s justice authorities said. The firm described risks as “close to zero.”
The group organized a tour to Macau in July for anyone who put US$10,000 into the scheme, and as many as 2,400 people signed up, investigators said.
“According to our information on hand, we can’t assert the company actually exists,” an official in the bureau’s economic crime department told reporters, adding that the amount of money obtained could be even higher.
“The amount is our preliminary finding,” he said. “It appears the money has been moved overseas.”
One man, surnamed Lin, is in custody, while another seven who were detained on Monday have been released on bail.
On its website, OurPPC says its core business is to help clients drive traffic to websites by identifying keywords used in searches.
It lists its headquarters in Ann Arbor, Michigan, and its CEO as Peter Anderson, a graduate of Poland’s Wroclaw University of Technology.
It claimed a turnover of US$15 million in 2013.
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