Reported 8 months ago
Former chairman of Taichung Bank, Wang Gui-feng, along with others, was accused of renting luxury cars, private jets, and mansions for personal use, resulting in a loss of 1.1 billion. They were charged with violating banking laws and faced a 15-year sentence. Wang was accused of misusing funds to indulge in extravagant living, including renting luxury cars and a private jet, leading to significant financial damages to the bank and affiliated companies. The prosecution seized luxury vehicles, watches, jewelry, and froze over 50 financial accounts in the investigation.
Source: YAHOO