Reported 8 months ago
Former Chairman of Taichung Commercial Bank, Wang Gui-feng, in collaboration with the chairwoman of Taichung Bank Insurance Brokerage and the owner of Supreme Lease, rented luxury cars, private jets, and mansions under the company's name, also sponsoring ad expenses for Zhou. The investigation concluded with Wang Gui-feng being prosecuted under the Banking Act for breach of trust and other offenses, facing a 15-year prison sentence and a 500 million fine. Wang's extravagant lifestyle involved renting Bentley cars for personal use and purchasing luxury private jets, resulting in more than 1.1 billion in damages for the commercial bank and insurance brokerage.
Source: YAHOO