Reported 8 months ago
According to the latest update on June 24, 2024, Qiu Fusheng, the former chairman of Taiwan Land Development Company (Taiwan Land Development), was questioned overnight for suspected violation of the Securities and Exchange Act. He was initially granted bail of 1.5 million yuan, which he couldn't pay, leading to restrictions on his residence, exit from the country, and sea travels, as well as electronic monitoring. Qiu Fusheng and other associates were investigated for financial irregularities dating back to 2020, involving large sums of borrowed money and manipulated accounts. Various individuals involved have also been released on bail.
Source: YAHOO