Reported 8 months ago
Former Chairman of Kangyou-KY, Huang Wenlie, who had been missing before being apprehended in Thailand last year, has been convicted by the Taipei District Court to 25 years in prison and a fine of 2 million for offenses related to the Securities and Banking Acts and money laundering. Huang and others were found to have manipulated financial reports to secure high loans from banks, distributed cash dividends, and artificially boosted stock prices through fraudulent trading activities, leading to the company's delisting after its stock price plummeted for 14 consecutive days in 2018. In total, they amassed over 20.1 billion NTD through illegal schemes.
Source: YAHOO