Reported 9 months ago
Former Chairman of Taichung Bank, Wang Gui-feng, was released on bail of 1.5 billion NT dollars, but the prosecution is not satisfied and has appealed. He is accused of conspiring to embezzle over 1.1 billion NT dollars from Taichung Bank for renting supercars, private jets, and luxury homes. Despite the court's decision to grant bail, the prosecution believes he has a high risk of flight and has appealed to the higher court. Wang Gui-feng allegedly caused losses amounting to over 10 billion NT dollars by using bank funds for extravagant living, such as renting luxurious cars, private jets, and mansions.
Source: YAHOO