TAIPEI (Taiwan News) — The owner of an entertainment company on Tuesday (June 20) was sentenced to six years in prison for defrauding people of over NT$100 million (US$3.2 million) by duping 15 Taiwanese celebrities into investing in fake concerts, reported UDN.
Yen Yun-feng (顏允豐), the head of Brokers Brothers Herald, Ltd. (BBH) (布洛克兄弟公司), and Cheng Chi-cheng (鄭淇丞), the head of Itieh Cultural and Creative Company (乙蝶文創有限公司), reportedly tricked Taiwanese celebrities into investing NT$120 million in non-existent concerts and events by BTS and TWICE, among other acts. A Taipei District Court convicted Cheng of fraud (詐欺罪) and sentenced him to six years and four months in prison, while Yen's trial will be concluded separately.
The fraud victims include Taiwanese singer and television host Kang Kang (康康), Wu Tzu-wen (吳子文), son of former Vice President Wu Den-yih (吳敦義), former 5566 boy band member Rio Peng (彭康育), and G-Music (玫瑰大眾唱片) chairman Pai Chin-sung (白錦松). Of these, Pai was defrauded of the most money, at NT$20 million (US$652,000), while Wu was cheated out of NT$10.61 million, and Kang Kang lost NT$4.8 million.
Yen and Cheng claimed to have connections to invite BTS, Twice, and Ed Sheeran to Taiwan for concerts, according to prosecutors. The two deceived investors out of NT$120 million (US$3.9 million), and after the concerts failed to materialize, the victims filed complaints with authorities.
Yen Yun-feng (center) escorted by Criminal Investigation Bureau (CIB) officers. (CIB photo)
Yen and Cheng became known in the entertainment industry by organizing large-scale entertainment events in the past, according to a police investigation. However, their companies' operations deteriorated over the years.
In 2012, they announced they would invite American singer Mariah Carey to perform in Taiwan. However, they canceled the venture, claiming that they fell NT$20 million short of the necessary funds and could not find a suitable venue.
Between 2015 and 2021, Yen and Cheng allegedly claimed they were authorized to serve as booking agents for foreign musicians. After luring investors into funding a fake concert, they would claim that because negotiations with the musicians had broken down, the event could not be held as was agreed upon in the contract.
However, investors discovered that the contracts had been forged and filed a complaint with prosecutors. An investigation later revealed that Yen had earned NT$26 million and Cheng had earned more than NT$100 million from the fraud scheme.
