Reported about 1 year ago
According to Yahoo News on July 4, 2024, Tai Kun Construction's chairman, surnamed Yang, and eight others were indicted by the Northern District Prosecutor's Office for allegedly providing false information to the Hua Nan Bank for an unsuccessful loan attempt and then attempting to fraudulently obtain over NT$8.3 billion from a syndicated loan from the Land Bank and other banks. The prosecutors found that the group's redevelopment project in Xinzhuang, 'Taishelizhenyuan,' involved an estimated land purchase and construction cost of NT$17.5 billion, leading to a need for NT$7.6 billion in bank loans. The defendants are accused of inflating the project's sales figures to meet loan conditions, resulting in a legal case on charges including bank fraud and document forgery.
Source: YAHOO