Reported 7 months ago
On June 12, 2024, former Shin Kong Financial Holding Co. Chairman Wu Dongjin was questioned by prosecutors for his involvement in potential fraudulent activities related to New Life Insurance's investment in Chateau de Chalsnic. Wu was brought in as a defendant and posted bail of up to 100 million yuan after a late-night interrogation. Other individuals involved, including former senior executives of New Life, were also questioned and bailed. Prosecutors seized various documents during raids at multiple locations, uncovering losses exceeding 1.4 billion yuan for New Life Insurance. The case is being investigated for breach of trust under the Insurance Act, with more updates available on Public Television News website.
Source: YAHOO