Reported 7 months ago
In an exclusive report, creditors of the Taoyuan Celebrity Hall Hotel, facing financial crisis, shed light on founder Hong Teng-Sheng's loan process. Hong not only used 1/6 shares of the brother-owned hotel as collateral but also had his younger brother, Hong Jui-Lin, assure, 'It's fine if you lend him money.' As Hong mysteriously disappeared amid financial chaos, creditors found the brothers denying any obligations, leaving them dumbfounded. The loan guarantee document displayed collateral with 1/6 shares of the brother-owned hotel. The creditors disclosed that from February to March 2024, Hong borrowed nearly NT$60 million in four separate transactions, with his wife Yang Yu-Hsuan actively participating. Despite assurances and smooth transactions with the brothers' hotel staff present, Hong's sudden evaporation prompted creditors to consider legal recourse if not swiftly settled by the family.
Source: YAHOO