Reported 7 months ago
Shin Kong Life operated the 'New Ban's Jie Castle,' with former chairman Wu Dongjin allegedly misappropriating funds from 2019 to 2021 to set up a postnatal care home, increase project budgets by over one billion, and provide related enterprises with free use, resulting in nearly NT$1.5 billion in losses. Prosecutors summoned Wu Dongjin early today on suspicion of violating 'special breach of trust' laws, and granted him bail of one billion NT$. The case began when Shin Kong Life rented out the Jie Castle complex to related companies, with renovation costs paid by Shin Kong Life, causing prosecutors to claim a loss of one billion NT$. They also alleged that Shin Kong Life provided rooms rent-free to related companies through the Jie Castle Business Hotel, resulting in shortfalls of several million NT$ in rent. Wu Dongjin and 17 others, including the then president and general manager of Shin Kong Life, face charges of 'special breach of trust' under the Insurance Law and could receive three to ten years in prison, as well as fines ranging from ten million to two hundred million NT$. Prosecutors recently conducted searches and interviews involving Shin Kong Life and Wu Dongjin's properties, confiscating evidence. Wu Dongjin and others were questioned today, and Wu Dongjin was bailed for one billion NT$. Other individuals involved posted bail amounts ranging from two hundred thousand to two million NT$. The investigation revealed that Wu Dongjin and others committed crimes that exceeded contractual limits and harmed the company's interests.
Source: YAHOO