Reported 8 months ago
Former Kang You Chairman, Huang Wenlie, was apprehended in Thailand and extradited back to Taiwan for allegedly conspiring with Chinese property tycoon, Wang Mingliang, and others to defraud 20.1 billion yuan through false financial reports and loan fraud, harming thousands. Taipei District Court sentenced Huang to 25 years and a fine of 2 million yuan for violations of the Securities and Exchange Act. Other involved individuals also received prison sentences, and funds were ordered to be returned to victims. The case revealed a sophisticated scheme that involved fraudulent stock market activities and ultimately led to the downfall of Kang You as a listed company.
Source: YAHOO