Reported 8 months ago
Former Chairman of Taichung Bank, Wang Guifeng, is accused of spending 1.1 billion NTD of public funds on luxurious cars and renting private planes for personal use. The New Taipei District Prosecutors' Office concluded its investigation and is seeking a 15-year sentence and a 500 million NTD fine for Wang. The investigation revealed Wang's extravagant spending patterns and misuse of company resources, resulting in substantial losses amounting to over 11 billion NTD for Taichung Bank.
Source: YAHOO