Reported 11 months ago
Former Chairman of Taichung Bank, Wang Gui-feng, was charged with misappropriating public funds during his tenure, leading to a loss of 1.1 billion. He rented luxury cars, private jets, and a mansion for entertainment purposes, resulting in the deficit. Wang prepared to post bail of 150 million after being prosecuted by the New Taipei District Prosecutors Office for aggravated embezzlement and other offenses. He faces 15 years in prison and a 500 million fine if found guilty. Wang's lavish lifestyle included renting expensive cars, purchasing a private jet, and setting up a deluxe entertainment venue using bank funds, causing substantial damages to the bank and insurance companies.
Source: YAHOO