Reported 7 months ago
Shin Kong Life Insurance's subsidiary 'New Guardian Castle' faced scrutiny by the FSC for several violations, leading to a fraud investigation. Authorities conducted searches on 18 locations related to the case, including Shin Kong's headquarters and executives' residences, and summoned 17 individuals, with many high-ranking company officials among them. Bail was granted to individuals involved, with Shin Kong's Chairman, Wu Dongjin, posting a bail amount of one billion NTD. The investigation is suspected to be linked to irregularities in the construction of the luxury residential project 'New Guardian Castle,' prompting Shin Kong to report the incident as a major incident. Past penalties and issues within Shin Kong Life Insurance, as well as Chairman Wu Dongjin's actions during suspension, are also highlighted.
Source: YAHOO