Car influencer Chester Car promotes high-yield investment schemes, sparking Ponzi scheme allegations

Recently, Chester Car promoted an investment plan on social media platforms, offering an annualized return of up to 24%, monthly dividends of 2%, and principal redemption at any time, with a minimum investment threshold of NT$500,000. Although it is labeled as a rare luxury car trading, this rhetoric immediately triggered online criticism, with users pointing out that this is a typical Ponzi scheme tactic.

**From Investment Losses to Claims of Big Profits, Chester Car’s Business Shift**

Chester Car is a well-known Taiwanese automotive YouTuber with over 100,000 subscribers, primarily sharing new car reviews and automotive knowledge. However, in recent years, he has expanded into investment promotion, with a rather complex background.

He mentioned in interviews that he encountered a Ponzi scheme when first exposed to cryptocurrencies in early 2016, losing several hundred thousand Taiwan dollars. Afterwards, he studied such scam techniques, shifted to long-term investments in mainstream coins, and in 2017 entered the mining machine industry, claiming to earn NT$6-7 million. He also invested in Ethereum and other projects for profit.

From a loser to a self-proclaimed big winner, Chester Car has gradually transformed into an investment promoter, but this role change has also brought new controversies.

**Legal Risks Behind High-Yield Promises**

If the investment scheme promoted by Chester Car is established, it may violate Article 29-1 of Taiwan’s Banking Act. This regulation explicitly states that any individual or unlicensed institution shall not, under the guise of borrowing, accepting investments, or shareholding, promise high returns or interest to multiple people or unspecified persons.

Legal analysis suggests that violating this regulation could result in 3 to 10 years of imprisonment. If illegal fundraising exceeds NT$100 million, the sentence could be increased to over 7 years. In other words, once such investment promotion is deemed a scam or illegal fundraising, the consequences are extremely severe.

**Market Skepticism and Reporting Channels**

On Threads and Facebook, many netizens have pointed out that the “monthly 2%, annual 24%, principal guaranteed” model is the classic design logic of a Ponzi scheme—using a stable illusion to lure investments, which is ultimately unsustainable. Although no victims have officially spoken out yet, public vigilance has been ignited.

If the public discovers messages suspected of investment scams, they can report via Taiwan’s “Online Scam Reporting and Inquiry App,” which the government will investigate and verify.

**Background Context: The Controversial Influencer Identity**

Chester Car was previously involved in controversy related to a shooting incident. Although he claimed to be a victim, this experience has long subjected him to suspicion and criticism from netizens. In April this year, he stated he had filed defamation lawsuits against accusers, but the controversy has never fully subsided.

Now, with the new investment promotion wave, public doubts about his business conduct have been further amplified. Regardless of the final judgment, this case once again reminds investors that any scheme promising excessively high returns warrants cautious scrutiny.