Chester Yang Zhenglun faces questions over promoting investment schemes; past controversies and legal risks reviewed

Speaking of Taiwanese car influencers, Yang Zhenglun (Chester Car) is a well-known YouTuber. However, this car channel host with over 100,000 subscribers has recently been heavily criticized online for promoting an investment scheme on social media. Some even directly accused him of promoting a “Ponzi scheme.” Who exactly is Yang Zhenglun Chester Car, why has he become involved in this controversy, and what legal concerns are behind it?

The Multiple Identities of the Car Influencer: Yang Zhenglun Chester Car

Yang Zhenglun’s online alias Chester Car mainly runs a car channel on YouTube, featuring unboxings of new cars, parts reviews, test drives, and automotive knowledge. Due to his relaxed style and professionalism, he has built a large fan base in the era of self-media. However, his life has not been smooth sailing; instead, it has been full of dramatic twists.

2017 Zhongli Shooting Incident: A Life-or-Death Moment for Yang Zhenglun

Perhaps the most well-known part of Yang Zhenglun Chester Car’s background is his experience with a shooting incident. According to reports, in 2017, during a shooting at a lottery data company in Zhongli, Yang Zhenglun was the sole survivor. The assailant stormed into the lottery company, shooting and killing two men and one woman, then committed suicide during police pursuit. Yang Zhenglun narrowly escaped.

Investigations revealed that Yang Zhenglun and the deceased Yin Shou-teng co-managed three lottery data websites that displayed real-time results. Police initially suspected the motive involved disputes over gambling or betting activities, but computers seized at the scene contained no relevant records. Notably, the member lists of these websites included many prominent political and business figures, adding to the mystery for investigators.

Due to this past, Yang Zhenglun Chester Car has long been accused online of involvement in scams and illegal betting activities. However, in April 2025, he filed a defamation lawsuit against social media critics, claiming much of the criticism came from fake accounts.

From Crypto Scam Victim to Investor: The Turning Point in Yang Zhenglun’s Story

In an interview in 2023, Yang Zhenglun shared his experience entering the cryptocurrency field. He admitted that when he first encountered cryptocurrencies in 2016, he lost hundreds of thousands of Taiwan dollars, falling into a Ponzi scheme trap. He jokingly called himself “the last to get off.”

After this lesson, Yang Zhenglun began to study the operation of Ponzi schemes and the principles of cryptocurrencies in depth. He eventually changed his strategy, focusing on long-term investments in mainstream coins, and in 2017 invested in mining businesses. He claims this decision earned him between 60 and 70 million Taiwan dollars. Early investments in Ethereum ($ETH) also yielded substantial profits.

Recent Controversy: Yang Zhenglun Chester Car Promotes a Mysterious Investment Scheme

Recently, a Threads user shared a screenshot of a post by Yang Zhenglun Chester Car on Instagram Stories, recommending an investment plan. The screenshot claimed the scheme offered a “stable monthly 2%, annual 24% return, with monthly dividends, principal guaranteed, and withdrawable at any time, with a minimum investment of NT$500,000.”

Although Yang Zhenglun Chester Car stated in the post that the investment involved trading rare collectibles (watches) and repeatedly emphasized “this is not a scam,” it still sparked widespread skepticism. Many netizens quickly recognized it as a typical Ponzi scheme and even suggested investigating his past activities.

The post was later shared on Facebook by well-known Taiwanese entrepreneur Hsiao Shang-nung, sparking broader discussion. Netizens began questioning whether the investment scheme promoted by Yang Zhenglun Chester Car might have violated Taiwan’s Banking Act.

Article 29-1 of the Banking Act: The Legal Red Line for Investment Fraud

Under Taiwan’s Banking Act, Article 29-1 stipulates that anyone who, under the guise of borrowing, accepting investments, or raising funds, solicits money from multiple or unspecified persons and promises or pays interest, dividends, or other returns that are seriously inconsistent with the principal, commits the offense of “accepting deposits.”

According to the law firm Yung-jen Law, only officially registered banking institutions have the legal authority to conduct deposit-taking and entrusted trust fund management. Violators face imprisonment of 3 to 10 years. If the illegal gains exceed NT$100 million, the sentence can be increased to over 7 years.

The investment scheme Yang Zhenglun Chester Car is promoting—promising a fixed 2% monthly return, principal guaranteed, and similar fundraising modes—closely resembles illegal fundraising activities regulated under the Banking Act.

The Challenge of Fraud Determination and Reporting Channels

It’s important to note that there is no clear legal ruling yet on whether Yang Zhenglun Chester Car’s investment scheme constitutes fraud. On one hand, no real victims have come forward to accuse him; on the other, authorities have not launched an official investigation. This gray area allows many fraudulent schemes to persist.

However, Taiwan’s government provides convenient reporting channels. The Ministry of Digital Development has launched the “Online Fraud Reporting and Inquiry App,” allowing citizens to report suspected scams with a single click. If you encounter suspicious investment information or sales tactics, you can submit a report through this platform for government review.

For ordinary investors, it’s crucial to remain vigilant when evaluating investment opportunities: beware of unexplained high returns, unregulated entities, and opaque investment targets. The case of Yang Zhenglun Chester Car serves as a cautionary example worth reflecting on, regardless of how the situation unfolds.