Reported 11 months ago
Wang Gui-feng, the former chairman of Taichung Commercial Bank, used bank funds to rent a high-end Bombardier Challenger 350 private jet for entertaining purposes, but instead, he brought friends and family for leisure trips, causing a loss of over 1.1 billion NTD. Wang and others were charged with violating banking and securities laws, facing 15 years in prison and a fine of 500 million NTD each. Notable figures like legislator Li De-wei and entertainer Chang Chao-chih were among the guests who enjoyed the private jet trips, all sponsored by Wang. Investigations revealed that a number of prominent figures were entertained for free on the jet, with only a few, like Ding Guang-hong and Hsia Li-yen, paying for their trips.
Source: YAHOO