Reported 8 months ago
Taichung Commercial Bank's former chairman Wang Guifeng and 6 others have been indicted by New Taipei District Prosecutors for allegedly spending over 1.1 billion NT dollars of public funds on luxury cars and renting private jets, in violation of banking laws. Prosecutors are seeking a 15-year prison sentence for Wang Guifeng and a 500 million NT dollar fine. The indictment cites the bank's passive handling of the situation as a reason for the hefty penalty. Further reading includes stories on a wanted criminal in Xizhi escaping in a vehicle, a tragic incident involving a Thai student suspected of prostitution in Taiwan, and a Chiba hot pot restaurant fire in Miaoli that razed nearly 400 pings but luckily resulted in no injuries.
Source: YAHOO